Pangaea Logistics Solutions Ltd.
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
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, 2025 · Filed Nov 10, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unregistered Sales of Equity Securities and Use of Proceeds
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 nine months ended September 30, 2025, the Company repurchased 403,400 shares under the program at an average price of $4.93 per share for a total cost of approximately $2.0 million. All repurchased shares were retired upon acquisition. As of September 30, 2025, approximately $13.0 million remained available for future repurchases under the program.
Shares repurchased pursuant to the common share repurchase program during the nine months ended September 30, 2025 were as follows:
| Nine Months Ended September 30, 2025 | Total Number of Shares Purchased | Average price paid per share of common stock | Aggregate purchase price of common stock repurchases | Dollar value of remaining authorized repurchase |
|---|---|---|---|---|
| First quarter | — | $— | — | $15,000,000 |
| Second quarter | 202,882 | $4.93 | 1,007,100 | 13,992,900 |
| July | 77,457 | 4.93 | 382,243 | 13,610,657 |
| August | 119,772 | 4.91 | 584,748 | 13,025,909 |
| September | 3,289 | 4.99 | 16,523 | 13,009,386 |
| Third quarter | 200,518 | $4.96 | 983,513 | 13,009,386 |
| Year-to-date | 403,400 | $4.92 | 1,990,614 | 13,009,386 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.