UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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SECURITIES EXCHANGE ACT OF 1934
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Item 7.01. Regulation FD Disclosure.
On September 19, 2024, Gulfport Energy Corporation (the “Company”) entered into a purchase agreement (the “Purchase Agreement”) with an account managed and advised by Silver Point Capital, L.P. (the “Selling Stockholder”). Pursuant to the Purchase Agreement, the Company agreed to purchase from the Selling Stockholder an aggregate of 170,000 shares of the Company’s common stock, par value $0.0001 (“Common Stock”), at a price of $146.25 per share, representing an approximate 2% discount to the last reported per share sales price of Common Stock on the NYSE on September 19, 2024, and an aggregate total consideration of approximately $24.9 million (the “Repurchase”). The Repurchase is expected to close on September 25, 2024.
The Repurchase is part of the Company’s existing $650 million common share repurchase program and will reduce remaining availability thereunder. As of September 19, 2024 and prior to the Repurchase, the Company had repurchased approximately 4.9 million shares of common stock at a weighted-average share price of $97.40 per share since the inception of the repurchase program, totaling approximately $476.1 million in aggregate. Following the Repurchase, the Company will have approximately $149.0 million of remaining capacity under the common share repurchase program.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GULFPORT ENERGY CORPORATION | ||
Date: September 23, 2024 | By: | /s/ Michael Hodges |
Name: | Michael Hodges | |
Title: | Chief Financial Officer |
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