Risk Factors Update Summary
- Pursuing litigation for recovery of $99 million from PREPA for restoration services in Puerto Rico.
- FEMA approved $22.2 million for reimbursement, and a motion for $62 million was denied.
- Cobra transferred $54.4 million of receivables to SPCP Group, receiving $46.1 million.
- PREPA paid $64.0 million towards outstanding receivables, $9.6 million to Cobra and $54.4 million to SPCP Group.
- Capital budget for 2024 estimated at $15 million, depending on industry conditions.
- Wexford beneficially owns 47.1% of outstanding common stock, impacting financial condition.
- Stock repurchase program approved for up to $55 million or 10 million shares of common stock.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1679268&owner=exclude
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