Note 12 - Stockholders' Equity |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| Notes to Financial Statements | |
| Equity [Text Block] |
12. Stockholders’ Equity
The Company has one class of capital stock: common stock. The following summarizes the terms of the Company’s capital stock.
Common Stock
Pursuant to the Company’s restated Articles of Incorporation, the Company was authorized to issue up to 1,000,000,000 shares of common stock at $0.0001 par value. There were 203,030,980 and 194,070,512 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively. Each share of common stock is entitled to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the Company’s Board of Directors. The Company’s Board of Directors has not declared common stock dividends since inception.
Share Repurchase Program
On March 17, 2022, the Company announced that its Board of Directors authorized a new share repurchase program (the “Share Repurchase Program”) for the Company to buy back shares of its common stock for a period of years from the date of authorization. On February 25, 2025, the Company’s Board of Directors renewed the Share Repurchase Program for an additional three years from the date of renewal. Under the Share Repurchase Program, the Company has the authority to buy up to $150 million of common stock via acquisitions in the open market or privately negotiated transactions. The Share Repurchase Program may be suspended or discontinued at any time. The Company is not obligated to make purchases of, nor is it obligated to acquire any particular amount of, common stock under the Share Repurchase Program. During the three months ended March 31, 2025, the Company repurchased and retired 800,995 shares at an average price of $14.86 per share. The shares were returned to the status of authorized but unissued shares. As a result, common stock amount, additional paid-in capital, and accumulated deficit in the condensed consolidated balance sheet during the three months ended March 31, 2025, were reduced by $0.0 million, $3.4 million, and $8.5 million, respectively. During the three months ended March 31, 2024, the Company repurchased and retired 1,758,850 shares at an average price of $7.81 per share.
Public Warrants to Acquire Common Stock On July 1, 2021, the Company issued 17,500,000 public warrants with an exercise price of $11.50. Each warrant entitles the registered holder to purchase share of AvePoint’s common stock and the warrants are exercisable from the date of issuance through July 1, 2026.
During the three months ended March 31, 2025, 7,595,099 warrants were exercised, with total cash received of $87.3 million. As of March 31, 2025, 6,890,701 warrants remained outstanding. |