SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2019

13.	SUBSEQUENT EVENTS

The Company consummated the underwritten initial public offering of its common stock in May 2019. The common stock is traded on the NASDAQ Global Select Market under the ticker symbol “SPFI.” In connection with the offering, the Company issued and sold 3,207,000 shares of our common stock, including 507,000 shares of common stock sold pursuant to the underwriters’ full exercise of their option to purchase additional shares, in the initial public offering at an offering price to the public of $17.50 per share, for aggregate gross proceeds of $56.1 million before deducting underwriting discounts and estimated offering expenses, and estimated aggregate net proceeds of approximately $51.4 million after deducting underwriting discounts and estimated offering expenses, which expenses are not yet finalized. The Company intends to use the net proceeds to support continued growth, including organic growth and potential future acquisitions, and for general corporate purposes.