Good Times Restaurants Inc
For the period ended Jun 25, 2024. Filed Aug 1, 2024.
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Jun 25, 2024 · Filed Aug 1, 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 |
The Company‘s Board of Directors authorized a $5.0 Million share repurchase program which became effective February 7, 2022 (the “2022 Share Repurchase Program”). The authorization to repurchase will continue until the maximum value of shares is achieved or the Company terminates the program. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. As of June 25, 2024, the Company has purchased 1,613,282 shares of its common stock pursuant to the share repurchase plan leaving approximately $507,000 available for repurchases under the plan.
Repurchases of common stock under the share repurchase plan during the fiscal quarter ended June 25, 2024 were as follows:
| Period | Total number of shares (or units) purchased | Average price paid per share (or unit) | Total number of shares (or units) purchased as part of publicly announced plans or programs | Maximum dollar value of shares that may yet be purchased under the plans or programs |
|---|---|---|---|---|
| 03/27/2024 – 04/23/2024 | 31,235 | $2.55 | 31,235 | |
| 04/24/2024 – 05/21/2024 | 36,700 | $2.78 | 36,700 | |
| 05/22/2024 – 06/25/2024 | 24,305 | $2.61 | 24,305 | |
| Total | 92,240 | 92,240 | $507,000 |
In addition to the purchases made under the 2022 Share Repurchase Program, on May 30, 2024, the Company purchased an aggregate of 171,276 shares of its common stock, at a price of $2.60 per share in a transaction negotiated with a private seller.
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