Pangaea Logistics Solutions Ltd.
For the period ended Jun 30, 2025. Filed Aug 8, 2025.
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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.
Jun 30, 2025 · Filed Aug 8, 2025
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Unregistered Sales of Equity Securities and Use of Proceeds
Issuer Purchases of Equity Securities
| (a) Execution Date | (b) Class of Shares (or Units) | (c) Total Number of Shares (or Units) Purchased | (d) Average Price per Share (or Unit) | (e) Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs | (f) Aggregate Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Publicly Announced Plans or Programs | (g) Total Number of Shares (or Units) Purchased on the Open Market | (h) Total Number of Shares (or Units) Purchased that are Intended to Qualify for the Safe Harbor in Rule 10b-18 | (i) Total Number of Shares (or Units) Purchased Pursuant to a Plan that is Intended to Satisfy the Affirmative Defense Conditions of Rule 10b5-1(c) |
|---|---|---|---|---|---|---|---|---|
| 6/20/2025 | Common Stock | 43,070 | $4.90 | 43,070 | $14,789,000 | 43,070 | — | 43,070 |
| 6/23/2025 | Common Stock | 56,849 | $4.95 | 56,849 | $14,508,000 | 56,849 | — | 56,849 |
| 6/24/2025 | Common Stock | 55,532 | $5.00 | 55,532 | $14,230,000 | 55,532 | — | 55,532 |
| 6/25/2025 | Common Stock | 47,431 | $4.99 | 47,431 | $13,993,000 | 47,431 | — | 47,431 |
| Total | 202,882 | 202,882 | 202,882 | 202,882 | ||||
On May 8, 2025, the Company’s Board of Directors authorized a share repurchase program of up to $15 million of the Company’s common stock, representing approximately 5.6% of its market capitalization as of that date. The program does not obligate the Company to repurchase any specific number of shares and may be modified, suspended, or terminated at any time.
The share repurchase program was publicly announced in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed on May 12, 2025.
During the six months ended June 30, 2025, the Company repurchased 202,882 shares under the program at an average price of $4.96 per share for a total cost of approximately $1.01 million. All repurchased shares were retired upon acquisition. As of June 30, 2025, approximately $14 million remained available for future repurchases under the program.
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