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Note 19 - Subsequent Events
3 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Subsequent Events [Text Block]

NOTE 19.     SUBSEQUENT EVENTS

 

On April 1, 2021, our subsidiary, GIG, acquired 100% of the membership units of an insurance brokerage company for a purchase price $2,225,000. The membership units were acquired for the purpose of expanding our presence in the surety and fidelity insurance business in the United States.

 

On April 6, 2021, we closed on the previously announced underwritten public offering of our Class A common stock, par value $0.001 per share (“Class A common stock”), at a price to the public of $25.00 per share, for a total of 2,645,000 shares, of which 2,345,000 shares were sold by us, including 345,000 shares issued as a result of the underwriters’ exercise in full of their option to purchase additional shares, and 300,000 shares were sold by a selling stockholder. The offering resulted in total gross proceeds to us of approximately $58.6 million, before deducting the underwriting discount and offering expenses. We did not receive any of the proceeds from the sale of shares by the selling stockholder.