Company: TDDWW
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001437749-25-024640
Chunk: 67

Company: TIDEWATER INC
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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 of our obligations. In addition, the limitations imposed by financing agreements on our ability to incur additional debt and to take other actions might significantly impair our ability to obtain other financing. A failure to comply with any of the terms of the agreements governing our indebtedness, could have a material adverse effect on our business, financial condition, and results of operations.

       47

ITEM 2.       UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Unregistered Sales of Equity Securities

None.

Issuer Repurchases of Equity Securities

On November 5, 2023, our Board of Directors (Board) approved a $35.0 million share repurchase program, pursuant to which we repurchased and retired 590,499 shares for approximately $35.0 million, excluding commissions and a 1% excise tax, during the fourth quarter of 2023. On February 29, 2024, our Board approved a new $48.6 million share repurchase program, subsequently approving the increase of such program by $18.1 million on May 2, 2024, $13.9 million on August 6, 2024, $10.1 million on November 7, 2024 and $90.3 million on February 27, 2025. Share repurchases may take place from time to time on the open market or through privately negotiated transactions. The repurchase program may be suspended or discontinued at any time and does not have a specified expiration date.

Common stock repurchase activity for the three months ended June 30, 2025 was as follows:

      Maximum Dollar 

      Value of Shares 

      Total Number of 

      that May Yet Be 

      Total 

      Shares Purchased 

      Purchased 

      Number of 

      Average 

      as Part of Publicly 

      Under Plans or 

      Shares 

      Price Paid 

      Announced Plans 

      Programs 

      Period 

     Repurchased

     Per Share

      or Programs 

      (in thousands) 

      April 1, 2025 - April 30, 2025 

     1,379,723

     $
     36.80

     1,379,723

     $
     297

      May 1, 2025 - May 31, 2025 

     —

     —

     —

     297

      June 1, 2025 - June