Item 8.01 Other Events.
On April 5, 2021, Bluegreen Vacations Holding Corporation ("BVH"), which
currently beneficially owns approximately 93% of the outstanding shares of
common stock of Bluegreen Vacations Corporation ("Bluegreen"), issued a press
release announcing that it intends to take Bluegreen private through a statutory
short-former merger under Florida law pursuant to which each share of
Bluegreen's common stock outstanding at the effective time of the merger, other
than shares beneficially owned by BVH, will be converted into the right to
receive 0.51 shares of BVH's Class A Common Stock. The merger is not subject to
any financing condition or shareholder approval. Under Florida law, the holder
of more than 80% of the outstanding shares of Bluegreen's common stock may
effect a statutory short-form merger without the approval of, or action by, the
Board of Directors or any other shareholders of Bluegreen. Accordingly, the
Board of Directors of Bluegreen has not acted to approve or disapprove the
merger, and the shareholders of Bluegreen will not be asked to approve or
disapprove the merger or be furnished a proxy in connection with voting on the
merger. BVH announced that it expects to effect the merger following the
effectiveness of BVH's Registration Statement on Form S-4 to be filed with the
Securities and Exchange Commission with respect to the shares of BVH's Class A
Common Stock to be issued in the merger and the approval of the listing of those
shares on the New York Stock Exchange. However, the merger may be terminated by
BVH, in its sole discretion, at any time before it becomes effective, including
in the event of pending or threatened litigation relating to the merger. The
foregoing description of the contemplated merger has been derived from BVH's
press release, a copy of which is filed as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 Press Release of Bluegreen Vacations Holding Corporation dated April
5, 2021
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