BOCA RATON, FL — (Marketwired) — 11/17/17 — Bluegreen Vacations Corporation (“Bluegreen Vacations” or “Bluegreen”) (NYSE: BXG), announced today that its Common Stock commenced trading on the New York Stock Exchange (“NYSE”) under the ticker sym…
BOCA RATON, FL and FORT LAUDERDALE, FL–(Marketwired – November 16, 2017) – Bluegreen Vacations Corporation (“Bluegreen Vacations”) and its parent company, BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB), jointly announced today that Bluegreen Vacations has priced its initial public offering of 6,498,648 shares of its common stock at a price to the public of $14.00 per share. Bluegreen Vacations is offering 3,736,723 shares, and a wholly-owned subsidiary of BBX Capital is offering 2,761,925 shares as a selling shareholder. The shares are expected to begin trading on the New York Stock Exchange on November 17, 2017, under the ticker symbol “BXG.” The offering is expected to close on November 21, 2017, subject to the satisfaction of customary closing conditions.
In addition, BBX Capital’s wholly-owned subsidiary has granted the underwriters a 30-day option to purchase up to 974,797 additional shares of Bluegreen Vacations’ common stock. After completion of the offering, BBX Capital Corporation will continue to own approximately 90% of Bluegreen Vacations’ outstanding common stock.
Stifel and Credit Suisse are acting as joint lead book-running managers and as representatives of the underwriters for the proposed offering. BofA Merrill Lynch and SunTrust Robinson Humphrey are also acting as joint book-running managers.
A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. The offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained by contacting: Stifel, Nicolaus & Company, Incorporated, Attn: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, (415) 364‐2720, syndprospectus@stifel.com; or Credit Suisse Securities (USA) LLC, Attn: Prospectus Dept., One Madison Ave., New York, NY 10010, (800) 221-1037, newyork.prospectus@credit-suisse.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Bluegreen Vacations Corporation:
Bluegreen Vacations Corporation (formerly Bluegreen Corporation), founded in 1966 and headquartered in Boca Raton, Florida, is a leading vacation ownership company that markets and sells vacation ownership interests (VOIs) and manages resorts in top leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, deeded vacation ownership plan with approximately 211,000 owners, 67 Club and Club Associate Resorts and access to more than 11,000 other hotels and resorts through partnerships and exchange networks. Bluegreen Vacations also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services, to or on behalf of third parties.
About BBX Capital Corporation:
BBX Capital Corporation (formerly BFC Financial Corporation) (NYSE: BBX) (OTCQX: BBXTB) is a diversified holding company whose activities include its ownership of Bluegreen Vacations Corporation and, through its Real Estate and Middle Market Divisions, the acquisition, ownership and management of joint ventures and investments in real estate and real estate development projects and middle market operating businesses.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All opinions, forecasts, projections, future plans or other statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements involve risks and uncertainties, including that the initial public offering is subject to certain closing conditions and may not be completed on the contemplated terms, or at all, that the underwriters may not exercise their option to purchase additional shares in full or at all, and risks and uncertainties regarding the impact that the initial public offering may have on BBX Capital and Bluegreen Vacations. Forward-looking statements speak only as of the date of this press release, and neither BBX Capital nor Bluegreen Vacations assumes any obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason, except as required by law.
Contact Information:
Investor Relations: Leo Hinkley, Managing Director, Investor Relations Officer
954-940-5300
Email: LHinkley@BBXCapital.com
Media Contact:
Neil Shapiro
Edelman
212-704-8166
Email: Neil.Shapiro@Edelman.com
FORT LAUDERDALE, FL — (Marketwired) — 11/15/17 — BBX Capital Corporation (NYSE: BBX)(OTCQX: BBXTB) (“BBX Capital” or the “Company”), today announced that the Company’s Chairman and Chief Executive Officer, Alan B. Levan, was named the 2017 Broward …
BOCA RATON, FL and FORT LAUDERDALE, FL — (Marketwired) — 11/07/17 — Bluegreen Vacations Corporation (formerly Bluegreen Corporation) (“Bluegreen Vacations”) and its parent company, BBX Capital Corporation (NYSE: BBX)(OTCQX: BBXTB) (“BBX Capital”), announced today that Bluegreen Vacations has commenced an initial public offering of 6,498,648 shares of its common stock. Bluegreen Vacations is offering 3,736,723 shares and Woodbridge Holdings, LLC, a wholly owned subsidiary of BBX Capital (“Woodbridge”), is offering 2,761,925 shares as selling shareholder. Woodbridge has also granted the underwriters an option to purchase up to an additional 974,797 shares at the initial public offering price. The initial public offering price is currently expected to be between $16.00 and $18.00 per share. Bluegreen Vacations has applied to list its common stock on the New York Stock Exchange under the symbol “BXG.”
Stifel and Credit Suisse are acting as joint lead book-running managers and as representatives of the underwriters for the proposed offering. BofA Merrill Lynch and SunTrust Robinson Humphrey are also acting as joint book-running managers.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the proposed offering may be obtained by contacting: Stifel, Nicolaus & Company, Incorporated, Attn: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, (415) 364‐2720, syndprospectus@stifel.com; or Credit Suisse Securities (USA) LLC, Attn: Prospectus Dept., One Madison Ave., New York, NY 10010, (800) 221-1037, newyork.prospectus@credit-suisse.com.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Bluegreen Vacations Corporation:
Bluegreen Vacations Corporation (formerly Bluegreen Corporation), founded in 1966 and headquartered in Boca Raton, Florida, is a leading vacation ownership company that markets and sells vacation ownership interests (VOIs) and manages resorts in top leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, deeded vacation ownership plan with approximately 211,000 owners, 67 Club and Club Associate Resorts and access to more than 11,000 other hotels and resorts through partnerships and exchange networks. Bluegreen Vacations also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services, to or on behalf of third parties.
About BBX Capital Corporation:
BBX Capital Corporation (formerly BFC Financial Corporation) (NYSE: BBX)(OTCQX: BBXTB) is a diversified holding company whose activities include its ownership of Bluegreen Vacations Corporation and, through its Real Estate and Middle Market Divisions, the acquisition, ownership and management of joint ventures and investments in real estate and real estate development projects and middle market operating businesses.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All opinions, forecasts, projections, future plans or other statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements involve risks and uncertainties, including uncertainties regarding the timing and terms of the proposed offering described in this press release and the impact it may have on BBX Capital and Bluegreen Vacations, and the risk that the proposed offering may not be completed on the currently expected terms or at all. Forward-looking statements speak only as of the date of this press release, and neither BBX Capital nor Bluegreen Vacations assumes any obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason, except as required by law.
BBX Capital Corporation Contact :
Investor Relations:
Leo Hinkley
Managing Director, Investor Relations Officer
954-940-5300
Email: LHinkley@BBXCapital.com
Media Contact:
Neil Shapiro
Edelman
212-704-8166
Email: Neil.Shapiro@Edelman.com
Source: Bluegreen Vacations Corporation and BBX Capital Corporation
FORT LAUDERDALE, FL — (Marketwired) — 11/06/17 — BBX Capital Corporation (NYSE: BBX)(OTCQX: BBXTB) (“BBX Capital” or the “Company”) today reported its third quarter 2017 results.
Highlights:
Total consolidated r…
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