HighPeak Energy Inc
For the period ended Sep 30, 2024. Filed Nov 4, 2024.
View on SEC.govAbout this filing
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 4, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1A. RISK FACTORS
In addition to the information set forth in this Quarterly Report, the risks that are discussed in the Company’s Annual Report under the headings “Risk Factors,” “Business and Properties,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Quantitative and Qualitative Disclosures About Market Risk,” should be carefully considered, as such risks could materially affect the Company's business, financial condition or future results. There has been no material change in the Company's risk factors that were described in the Company’s Annual Report.
Issuer Purchases of Equity Securities
Our common stock repurchase activity for the three months ended September 30, 2024 was as follows:
| Period | Total Number of Shares Purchased(1) | Average Price Paid Per Share(2) | Total Number of Shares Purchased as Part of Publicly Announced Plan | Approximate Dollar Value of Shares that May Yet to Be Purchased Under the Plan(3)(4) |
|---|---|---|---|---|
| ($ in thousands, except per share amounts and shares) | ||||
| July 1, 2024 - July 31, 2024 | 116,868 | $14.13 | 116,868 | 58,831 |
| August 1, 2024 - August 31, 2024 | 331,536 | $15.06 | 331,536 | $53,849 |
| September 1, 2024 - September 30, 2024 | 422,243 | $14.34 | 422,243 | $47,809 |
| Total | 870,647 | $14.58 | 870,647 | |
(1) Such shares are cancelled and retired.
(2) The average price paid per share includes any commissions paid to repurchase stock.
(3) In February 2024, our Board approved a stock repurchase program for up to $75.0 million, excluding excise taxes and other expenses. The stock repurchase program expires on December 31, 2024 and may be suspended, modified, or discontinued by the Board at any time.
(4) The IRA of 2022, which was enacted into law on August 16, 2022, imposed a nondeductible 1% excise tax on the net value of certain stock repurchases made after December 31, 2022. All dollar amounts presented exclude such excise taxes, as applicable.
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