Stockholders' Equity

3 Months Ended

Mar. 31, 2016

Stockholders' Equity Attributable to Parent [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

A summary of changes in stockholders’ equity is presented below (dollars in thousands):

	Common Stock			Additional Paid-in Capital		Retained Earnings		Total Green Brick Partners, Inc. Stockholders’ Equity		Noncontrolling Interests			Total Stockholders’ Equity
	Shares	Amount
Balance at December 31, 2014	31,346,084	$	313	$	101,626	$	69,919	$	171,858	$	9,739		$	181,597
Share-based compensation	—	—		83		—		83		—			83
Contributions	—	—		—		—		—		45			45
Distributions	—	—		—		—		—		(300		)	(300		)
Out of period adjustment	—	—		—		1,933		1,933		—			1,933
Net income	—	—		—		4,018		4,018		2,170			6,188
Balance at March 31, 2015	31,346,084	$	313	$	101,709	$	75,870	$	177,892	$	11,654		$	189,546
Balance at December 31, 2015	48,833,323	$	488	$	271,867	$	87,177	$	359,532	$	12,323		$	371,855
Share-based compensation	—	—		245		—		245		—			245
Contributions	—	—		—		—		—		2,228			2,228
Distributions	—	—		—		—		—		(1,500		)	(1,500		)
Net income	—	—		—		3,094		3,094		1,396			4,490
Balance at March 31, 2016	48,833,323	$	488	$	272,112	$	90,271	$	362,871	$	14,447		$	377,318

Equity Offering

On July 1, 2015, the Company completed an underwritten public offering of 17,000,000 shares of its common stock at a price to the public of $10.00 per share and granted to the underwriters a 30-day option to purchase up to an aggregate of 841,500 additional shares of common stock to cover over-allotments (the “Equity Offering”). On July 23, 2015, the underwriters exercised the option and purchased 444,897 additional shares. All of the shares were sold by the Company pursuant to an effective shelf registration statement previously filed with the SEC.

The Equity Offering resulted in net proceeds to Green Brick of approximately $170.0 million, after deducting underwriting discounts and offering expenses. On July 1, 2015, Green Brick used approximately $154.9 million of the net proceeds from the Equity Offering to repay all of the outstanding principal, interest and a prepayment premium under the Term Loan Facility. Upon repayment, the Term Loan Facility was terminated and all security interests in, and all liens held by Greenlight with respect to, the assets of Green Brick securing the amounts owed under the Term Loan Facility were terminated and released. Green Brick used the remaining net proceeds for working capital and general corporate purposes.