Print Page  |  Close Window

SEC Filings

10-Q
ARCH COAL INC filed this Form 10-Q on 10/31/2017
Entire Document
 << Previous Page | Next Page >>

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

On April 27, 2017, the board of directors of Arch Coal authorized a new share repurchase program for up to $300 million of its common stock. On October 26, 2017, the board of directors approved an incremental $200 million increase to the share repurchase program bringing the total authorization to $500 million. The timing of any future share purchases, and the ultimate number of shares to be purchased, will depend on a number of factors, including business and market conditions, our future financial performance, and other capital priorities. The shares will be acquired in the open market or through private transactions in accordance with Securities and Exchange Commission requirements. The share repurchase program has no termination date, but may be amended, suspended or discontinued at any time and does not commit the Company to repurchase shares of its common stock. The actual number and value of the shares to be purchased will depend on the performance of our stock price and other market conditions.

The table below represents all share repurchases for the three months ended September 30, 2017:
Date
Total Number Shares Purchased(1)
Average Price Paid per Share
Total Number of Shares Purchased as Part of Publicly Announced Plans(2)
Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plan (in thousands)(3)
July 1 through July 31, 2017
39,800

$
75.33

39,800

$
445,959

August 1 through August 31, 2017
940,833

$
76.15

940,833

$
374,318

September 1 through September 30, 2017
1,227,500

$
74.99

1,227,500

$
282,272

 
 
 
 
 
Total
2,208,133

$
75.49

2,208,133

 

(1) The share repurchases for the quarter include 750,000 shares purchased directly from Monarch Alternative Capital LP for approximately $56 million on September 14, 2017.

(2) The stock repurchase program was announced on May 2, 2017, and the supplemental increase was announced on October 31, 2017.

(3) Amounts include the impact of the incremental $200 million authorization on October 26, 2017.

As of September 30, 2017, we had repurchased 2,918,834 shares at an average share price of $ 74.59 per share for an aggregate purchase price of approximately $218 million since inception of the stock repurchase program, and the remaining authorized amount for stock repurchases under this program was $282 million.




42

 << Previous Page | Next Page >>