Share Repurchase

6 Months Ended

Oct. 29, 2022

Share Repurchase

Share Repurchase

16. Share Repurchase Plan and Issuances

In September 2015, the Company’s Board of Directors authorized a program to repurchase up to $25,000,000 of the Company’s common stock. No shares were repurchased under the program during the six months ended October 29, 2022 or October 30, 2021. As of April 30, 2022, approximately $21,200,000 remained authorized for future repurchases under this program. In September 2022, the Company’s Board of Directors terminated the repurchase program effective immediately.

On September 8, 2022 the Company filed an S-3 shelf registration statement to offer and sell shares of the Company’s common stock, including a prospectus supplement in relation to an Open Market Sale Agreement^SM, also dated September 8, 2022, with Jefferies LLC relating to the proposed offer and sale of shares of our common stock having an aggregate offering price of up to $200,000,000 from time to time through Jefferies LLC as the sales agent. As of October 29, 2022, the Company has sold 125,441 of its shares for total gross proceeds of $12,700,000, and the Company has $187,300,000 aggregate offering price remaining available under the registration.