BBXIB 8-K
BBX Capital, Inc. (BBXIB)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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of The Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
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Item 8.01 Other Events.
As previously disclosed, BBX Capital, Inc. (the “Company”) had in place a share repurchase program which allowed for the Company to repurchase, at management’s discretion, up to $20.0 million of shares of the Company’s Class A and Class B Common Stock from time to time through solicited or unsolicited transactions in the open market, or in privately negotiated transactions, based on market conditions and other factors considered by management. After giving effect to previous repurchases made under the program, approximately $11.7 million of shares of the Company’s Class A Common Stock and Class B Common Stock remained available for repurchase by the Company under the program. On November 19, 2021, the Company’s Board of Directors (the “Board”) approved the Company’s repurchase of 1,305,416 shares of the Company’s Class A Common Stock from an unaffiliated shareholder in a privately negotiated transaction for a total purchase price of approximately $14.5 million (the “Share Repurchase”). In connection therewith, the Board approved an increase in the share repurchase program in the amount necessary to consummate the Share Repurchase under the program. The Share Repurchase was subsequently consummated on November 23, 2021. As a result, there is no remaining availability under the share repurchase program.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 24, 2021
BBX Capital, Inc.
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By: /s/ Brett Sheppard |
Brett Sheppard |
Chief Financial Officer
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