Barings BDC Inc
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
Extracted filing text, with the paragraph anchors used by the comparison.
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Sales of Unregistered Securities
None.
Issuer Purchases of Equity Securities
During the three months ended September 30, 2024, in connection with our DRIP for our common stockholders, we directed the plan administrator to purchase 60,837 shares of our common stock for an aggregate of $604,177 in the open market in order to satisfy our obligations to deliver shares of common stock to our stockholders with respect to our dividend declared on August 7, 2024.
On February 22, 2024, the Board authorized a new 12-month Share Repurchase Program. Under the Share Repurchase Program, we may repurchase, during the 12-month period commencing on March 1, 2024, up to $30.0 million in the aggregate of our outstanding common stock in the open market at prices below the then-current NAV per share. The timing, manner, price and amount of any share repurchases will be determined by us, in our discretion, based upon the evaluation of economic and market conditions, our stock price, applicable legal, contractual and regulatory requirements and other factors. The Share Repurchase Program is expected to be in effect until March 1, 2025, unless extended or until the aggregate repurchase amount that has been approved by the Board has been expended. The Share Repurchase Program does not require us to repurchase any specific number of shares, and we cannot assure stockholders that any shares will be repurchased under the Share Repurchase Program. The Share Repurchase Program may be suspended, extended, modified or discontinued at any time. During the three months ended September 30, 2024, we repurchased a total of 199,054 shares of our common stock in the open market under the Share Repurchase Program at an average price of $9.84 per share, including brokerage commissions.
The following chart summarizes repurchases of our common stock for the three months ended September 30, 2024:
| Period · Total number of shares purchased · Average price paid per share · Total number ofshares purchasedas part of publiclyannounced plansor programs · Approximate dollar value of shares that may yet bepurchased under the plans or programs(2) | |||||
|---|---|---|---|---|---|
| July 1 through July 31, 2024 | — | $— | — | $26,984 | |
| August 1 through August 31, 2024 | — | $— | — | $26,984 | |
| September 1 through September 30, 2024 | 259,891 | (1) | $9.86 | 199,054 | $25,027 |
(1) Includes 60,837 shares purchased in the open market pursuant to the terms of our dividend reinvestment plan.
(2) In thousands.
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