Annual report pursuant to Section 13 and 15(d)

Common Stock

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Common Stock
12 Months Ended
Dec. 31, 2018
Common Stock [Abstract]  
Common Stock

13.  Common Stock



The initial public offering of our common stock closed on November 17, 2017.  In the initial public offering, we sold 3,736,723 shares of our common stock at the public offering price of $14.00 per share, less underwriting discounts and commissions. We received net proceeds of approximately $47.3 million from our sale of shares in the initial public offering.  In addition, BBX Capital, our sole shareholder prior to the initial public offering, sold, as selling shareholder, 3,736,722 shares of our common stock, including 974,797 shares sold on December 5, 2017 pursuant to the underwriter’s exercise of their option to purchase additional shares, at the public offering price of $14.00 per share, less underwriting discounts and commissions. We did not receive any proceeds from the sale of shares by BBX Capital. In connection with the initial public offering, we effected a 709,977-for-1 stock split.



On November 26, 2018, our board of directors approved a share repurchase program which authorized the repurchase of up to 3,000,000 shares of our common stock at an aggregate cost of up to $35.0 million. The repurchase program authorizes management at its discretion, to repurchase shares from time to time subject to market conditions and other factors.   As of December 31, 2018, 288,532 shares of common stock had been repurchased for approximately $4.0 million under the repurchase plan.