BBX Capital, Inc. (OTCPK:BBXI.A) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 Class A shares, representing 3.3% of its total issued share capital. The shares will be repurchased at a price of $8 per share.

The purpose of the program is to prudently use the financial resource, delivering value to the shareholders and obtaining liquidity. The program will be funded using available cash and cash equivalents. If the offer is oversubscribed, the company will prorate the number of shares accepted for payment.

The company can exercise the Tender Clause to repurchase over and above of what it plans by 2%. The program is valid till December 20, 2023. As of November 20, 2023, the company had 11,302,168 Class A common stock and 3,854,194 Class B Common Stock outstanding.