Common Stock

12 Months Ended

Mar. 31, 2025

Common Stock

Common Stock

12. Common Stock

On June 7, 2024, we issued 2 million shares to the public at a price of $44.50 per share with proceeds totaling $89.0 million, less (i) $2.225 per share, or $4.5 million, of underwriting discounts and commissions, and (ii) $0.1 million of legal and other offering costs.

On February 2, 2022, our Board of Directors authorized the repurchase of up to $100.0 million of our common shares (the “2022 Common Share Repurchase Authority”). Under this authorization, when in force, purchases were and may be made at our discretion in the form of open market repurchase programs, privately negotiated transactions, accelerated share repurchase programs or a combination of these methods. The actual amount and timing of share repurchases are subject to capital availability, our determination that share repurchases are in the best interest of our shareholders, and market conditions. As of March 31, 2025, our total purchases under the 2022 Common Share Repurchase Authority totaled 161,500 shares for an aggregate consideration of $3.8 million. We are not obligated to make any common share repurchases.

Refer to Note 14 below for shares granted under the equity incentive plan during the years ended March 31, 2025, 2024, and 2023.