Note 11 - Shareholders' Equity |
9 Months Ended | ||
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Sep. 30, 2026 | |||
| Notes to Financial Statements | |||
| Equity [Text Block] |
May 2026 Follow-on Public Offering of Class B Common Stock
In May 2026, the Company completed an underwritten public offering of 1,725,000 shares of its Class B common stock at a public offering price of $266.00 per share, including the full exercise of the underwriters' option to purchase an additional 225,000 shares. Gross proceeds from the offering were approximately $458.9 million. After deducting underwriting discounts, commissions and other offering costs, net proceeds were approximately $441.6 million. Offering costs directly attributable to the offering were recorded as a reduction of additional paid-in capital.
During the quarter ended June 30, 2026, the Company used approximately $197.5 million of the net proceeds to repay all outstanding borrowings under its revolving credit facility. There is no outstanding debt under the facility as of September 30, 2026.
The Company currently expects to use a portion of the remaining net proceeds to fund the anticipated purchase of the remaining 20% ownership interest in Enercon and may use any remaining proceeds for acquisitions, investments, strategic partnerships and other general corporate purposes.
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- References No definition available.
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- Definition The entire disclosure for equity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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