TerrAscend Corp
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
On August 20, 2024, the Board approved a share repurchase program to repurchase up to $10,000 of the Company’s common shares (“Shares”). The share repurchase program authorizes the Company to repurchase up to 10,000,000 common shares of the Company at any time, or from time to time, from August 22, 2024 until August 21, 2025. The share repurchase program authorizes the Company to repurchase up to 65,361 Shares daily, which represents 25% of the Company’s average daily trading volume on the Toronto Stock Exchange of 261,445 Shares. Any repurchases under the program may be made by means of open market transactions, negotiated block transactions, or otherwise, including pursuant to a repurchase plan administered in accordance with Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended. The size and timing of any repurchases will depend on price, market and business conditions, and other factors. During the third quarter of 2024, the Company repurchased Shares as set forth below:
| Period | Total Number of Shares Purchased | Weighted Average Price Paid per Share | Total Number of Shares as Part of a Publicly Announced Program | Number of Shares that may yet be Purchased under the Program |
|---|---|---|---|---|
| July 1 through July 30, 2024 | — | $— | — | 10,000,000 |
| August 1 through August 31, 2024 | — | $— | — | 10,000,000 |
| September 1 through September 30, 2024 | 107,400 | $1.24 | 107,400 | 9,892,600 |
| For the Quarter Ended September 30, 2024 | 107,400 | $1.24 | 107,400 | 9,892,600 |
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