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Share Capital (Tables) | 9 Months Ended
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Sep. 30, 2023
Equity [Abstract] |
Schedule of Share Capital | Hamilton Group’s share capital at September 30, 2023 and December 31, 2022, is comprised as follows:
(Expressed in thousands of U.S. Dollars, except share information) |  |  |
Authorized: |  |  |
150,000,000 common shares of $0.01 par value each |  |  |
Issued, outstanding and fully paid: | 2023 |  | 2022
Class A common shares (2023 and 2022: 30,520,078) | $ | 305 |  |  | $ | 305 |
Class B common shares (2023: 42,658,302 and 2022: 42,042,155) | 427 |  |  | 420 |
Class C common shares (2023 and 2022: 30,525,626) | 305 |  |  | 305 |
Total | $ | 1,037 |  |  | $ | 1,030 |
Schedule of Activity Related to Common Shares | The following is a summary of the activity related to common shares authorized for the three months ended September 30, 2023 and 2022:
| 2023
| Class A |  | Class B |  | Class C |  | Total
Common shares - beginning of period | 53,993,690 |  |  | 50,480,684 |  |  | 30,525,626 |  |  | 135,000,000 |
Increase in authorized share capital | — |  |  | 15,000,000 |  |  | — |  |  | 15,000,000 |
Common shares - end of period | 53,993,690 |  |  | 65,480,684 |  |  | 30,525,626 |  |  | 150,000,000 |
| 2022
| Class A |  | Class B |  | Class C |  | Total
Common shares - beginning of period | 53,993,690 |  |  | 48,984,123 |  |  | 32,022,187 |  |  | 135,000,000 |
Share class conversions | — |  |  | 1,496,561 |  |  | (1,496,561) |  |  | — |
Common shares - end of period | 53,993,690 |  |  | 50,480,684 |  |  | 30,525,626 |  |  | 135,000,000 |
The following is a summary of the activity related to common shares authorized for the nine months ended September 30, 2023 and 2022:
| 2023
| Class A |  | Class B |  | Class C |  | Total
Common shares - beginning of period | 53,993,690 |  |  | 50,480,684 |  |  | 30,525,626 |  |  | 135,000,000 |
Increase in authorized share capital | — |  |  | 15,000,000 |  |  | — |  |  | 15,000,000 |
Common shares - end of period | 53,993,690 |  |  | 65,480,684 |  |  | 30,525,626 |  |  | 150,000,000 |
| 2022
| Class A |  | Class B |  | Class C |  | Total
Common shares - beginning of period | 53,793,690 |  |  | 46,898,612 |  |  | 34,307,698 |  |  | 135,000,000 |
Share class conversions | 200,000 |  |  | 3,582,072 |  |  | (3,782,072) |  |  | — |
Common shares - end of period | 53,993,690 |  |  | 50,480,684 |  |  | 30,525,626 |  |  | 135,000,000 |
The following is a summary of the activity related to common shares issued and outstanding for the three months ended September 30, 2023 and 2022:
| 2023
| Class A |  | Class B |  | Class C |  | Total
Common shares - beginning of period | 30,520,078 |  |  | 42,638,190 |  |  | 30,525,626 |  |  | 103,683,894 |
Director share awards granted | — |  |  | 20,112 |  |  | — |  |  | 20,112 |
Common shares - end of period | 30,520,078 |  |  | 42,658,302 |  |  | 30,525,626 |  |  | 103,704,006 |
| 2022
| Class A |  | Class B |  | Class C |  | Total
Common shares - beginning of period | 30,520,078 |  |  | 40,497,039 |  |  | 32,022,187 |  |  | 103,039,304 |
Share class conversions | — |  |  | 1,496,561 |  |  | (1,496,561) |  |  | — |
Employee and director share purchases | — |  |  | 22,750 |  |  | — |  |  | 22,750 |
Director share awards granted | — |  |  | 25,805 |  |  | — |  |  | 25,805 |
Common shares - end of period | 30,520,078 |  |  | 42,042,155 |  |  | 30,525,626 |  |  | 103,087,859 |
The following is a summary of the activity related to common shares issued and outstanding for the nine months ended September 30, 2023 and 2022:
| 2023
| Class A |  | Class B |  | Class C |  | Total
Common shares - beginning of period | 30,520,078 |  |  | 42,042,155 |  |  | 30,525,626 |  |  | 103,087,859 |
Vesting of awards | — |  |  | 735,013 |  |  | — |  |  | 735,013 |
Director share awards granted | — |  |  | 44,892 |  |  | — |  |  | 44,892 |
Share repurchases | — |  |  | (163,758) |  |  | — |  |  | (163,758) |
Common shares - end of period | 30,520,078 |  |  | 42,658,302 |  |  | 30,525,626 |  |  | 103,704,006 |
| 2022
| Class A |  | Class B |  | Class C |  | Total
Common shares - beginning of period | 30,320,078 |  |  | 37,935,266 |  |  | 34,307,698 |  |  | 102,563,042 |
Share class conversions | 200,000 |  |  | 3,582,072 |  |  | (3,782,072) |  |  | — |
Vesting of awards | — |  |  | 580,935 |  |  | — |  |  | 580,935 |
Employee and director share purchases | — |  |  | 22,750 |  |  | — |  |  | 22,750 |
Director share awards granted | — |  |  | 25,805 |  |  | — |  |  | 25,805 |
Share repurchases | — |  |  | (104,673) |  |  | — |  |  | (104,673) |
Common shares - end of period | 30,520,078 |  |  | 42,042,155 |  |  | 30,525,626 |  |  | 103,087,859 |
The following is a summary of the activity related to common shares authorized for the period October 1, 2023 to December 5, 2023:
| 2023
| Class A |  | Class B |  | Class C |  | Unclassified |  | Total
Common shares - beginning of period | 53,993,690 |  |  | 65,480,684 |  |  | 30,525,626 |  |  | — |  |  | 150,000,000 |
Share class conversions | (25,348,883) |  |  | 6,856,668 |  |  | (4,981,397) |  |  | 23,473,612 |  |  | — |
Common shares - end of period | 28,644,807 |  |  | 72,337,352 |  |  | 25,544,229 |  |  | 23,473,612 |  |  | 150,000,000 |
The following is a summary of the activity related to common shares issued and outstanding for the period October 1, 2023 to December 5, 2023:
| 2023
| Class A |  | Class B |  | Class C |  | Total
Common shares - beginning of period | 30,520,078 |  |  | 42,658,302 |  |  | 30,525,626 |  |  | 103,704,006 |
IPO shares issued | — |  |  | 6,250,000 |  |  | — |  |  | 6,250,000 |
Share class conversions | (1,875,271) |  |  | 6,856,668 |  |  | (4,981,397) |  |  | — |
Exercise of warrants | — |  |  | 271,097 |  |  | — |  |  | 271,097 |
Common shares - end of period | 28,644,807 |  |  | 56,036,067 |  |  | 25,544,229 |  |  | 110,225,103 |

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