Gulfport Energy Corporation announced that it entered into a purchase agreement on December 19, 2024, to repurchase common stock from certain accounts managed by Silver Point Capital, L.P. The company agreed to purchase an aggregate of 79,410 shares of its common stock.
The repurchase was executed at a price of $162.81 per share, representing a 2.25% discount to the last reported per share sales price on the NYSE on December 19, 2024. The total consideration for this transaction amounted to approximately $12.9 million. This specific repurchase is expected to close on December 26, 2024.
This transaction is part of Gulfport's existing $1 billion common share repurchase program. Following this repurchase, the company will have approximately $421.0 million of remaining capacity under its common share repurchase program, reinforcing its ongoing commitment to returning capital to shareholders.
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