BBX Capital, Inc. (OTCPK:BBXI.A) announces an Equity Buyback for 500,000 shares, representing 3.3% for $4 million.
November 15, 2023 at 09:33 am EST
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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.
BBX Capital, Inc. is a diversified holding company. The Company's principal holdings include BBX Capital Real Estate LLC, BBX Sweet Holdings, LLC and Renin Holdings, LLC (Renin). BBX Capital Real Estate LLC is engaged in the acquisition, development, construction, ownership, financing and management of real estate and investments in real estate joint ventures, including investments in multifamily rental apartment communities, single-family master-planned for sale housing communities, warehouse and logistics facilities, and commercial properties located primarily in Florida. BBX Sweet Holdings, LLC is engaged in the ownership and management of operating businesses in the confectionery industry, including ITâSUGAR, a specialty candy retailer. Renin is engaged in the designing, manufacturing and distribution of sliding doors, door systems and hardware, and home decor products. In addition to its own manufacturing activities, Renin also sources various products and raw materials.
BBX CAPITAL, INC. 
