Company: HGBL
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001193125-25-269427
Chunk: 9

Company: Heritage Global Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 8
Chunk 9
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 subsequent interim period or for the entire year ending December 31, 2025. The accompanying condensed consolidated balance sheet as of December 31, 2024 has been derived from the audited consolidated balance sheet as of December 31, 2024, contained in the Company’s Form 10-K.  Repurchase ProgramThe Company’s Board of Directors previously authorized a share repurchase program (“2022 Repurchase Program”), which permitted the Company to purchase up to an aggregate of $6.0 million in common shares over a three year period ended on June 30, 2025. The Company repurchased 744,424 shares in the open market for a purchase price of approximately $1.6 million during the three months ended June 30, 2025. The 2022 Repurchase Program ended on June 30, 2025, with the Company utilizing approximately $5.6 million of the authorized $6.0 million for the repurchase of 2,897,658 common shares in the open market.Following the termination of the 2022 Repurchase Program on June 30, 2025, the Company’s Board of Directors authorized a new share repurchase program (the “2025 Repurchase Program”) on July 31, 2025. The 2025 Repurchase Program authorizes the repurchase of up to $7.5 million of the Company’s outstanding common stock through June 30, 2028. The timing and actual number of shares repurchased will depend on various factors, including share price, general business and market conditions, and the opportunities within the Company’s operations. As of September 30, 2025, no shares have been repurchased under the 2025 Repurchase Program.