Note 9. Equity

Initial Public Offering

On May 25, 2017, the Company completed an IPO of shares of its common stock, which are listed on the NYSE under the ticker symbol “WOW”.

The Company sold 20,970,589 shares of its common stock at a price of $17 per share (including the underwriters’ exercise of the overallotment option) for $356.5 million in gross proceeds. The Company incurred costs directly associated with the IPO of $22.5 million, resulting in proceeds from the IPO (net of issuance costs) of $334.0 million. Outstanding shares and per-share amounts disclosed as of June 30, 2018 and for all other comparative periods presented have been retroactively adjusted to reflect the effects of the May 25, 2017, 66,498.762 to 1 stock-split.

Common Stock

The following represents the Company’s purchase of WOW common stock during the three and six months ended June 30, 2018. The shares are reflected as treasury stock in the Company’s condensed consolidated balance sheet.


	Three months ended	Six months ended
	June 30, 2018	June 30, 2018
	Shares	Shares
Share buybacks	1,026,000	5,651,037
Income tax withholding	296,133	307,765
	1,322,133	5,958,802

On December 14, 2017, the Company’s Board of Directors authorized the Company to purchase up to $50.0 million of its outstanding common stock. The Company completed the buyback program on March 26, 2018, with total common stock shares repurchased of 5.1 million.

On May 10, 2018, the Board of Directors authorized the Company to repurchase up to $25.0 million of its outstanding common stock. During the three months ended June 30, 2018, the Company purchased 1,026,000 shares of common stock for approximately $9.6 million.

The Company has the authority to reissue shares repurchased under the buyback programs.