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Note 18 - Shareholders' Equity | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Equity [Text Block] | NOTE 18 Shareholders' Equity As described in Note 17, "Redeemable Class A Preferred Stock", during the nine months ended September 30, 2023, 149,733 Preferred Shares were converted into 935,831 common shares. As a result, during the nine months ended September 30, 2023, $6.1 million was reclassified from redeemable Class A preferred stock to additional paid-in capital on the consolidated balance sheet. On March 21, 2023, the Company's Board of Directors approved a security repurchase program under which the Company is authorized to repurchase up to $10.0 million of its currently issued and outstanding securities through March 22, 2024. The timing and amount of any repurchases are determined based on market and economic conditions, share price and other factors, and the program may be terminated, modified or suspended at any time at the Company's discretion. During the three and nine months ended September 30, 2023, the Company repurchased, in the aggregate, 628,587 and 1,193,557 shares, respectively, of common stock and warrants to purchase common stock for an aggregate purchase price of approximately $2.8 million and $4.8 million, respectively, including fees and commissions. The repurchased common stock will be held as treasury stock at cost and has been removed from common shares outstanding as of September 30, 2023. The Company previously had warrants outstanding that expired on September 15, 2023. Prior to the expiration thereof, the warrants were recorded in shareholders' equity and entitled each subscriber to purchase one common share of Kingsway at an exercise price of $5.00 for each warrant. During the three and nine months ended September 30, 2023, warrants to purchase 2,019,720 and 3,331,661 shares of common stock, respectively, were exercised, resulting in cash proceeds of $10.1 million and $16.7 million, respectively. Any warrants there were not exercised prior to the expiration date became null and void on the expiration date.

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