Stockholder's Equity

12 Months Ended

Dec. 31, 2019

Stockholder's Equity

Stockholder's Equity

Note 10 - Stockholders’ Equity

2018 Public Offering

On October 1, 2018, the Company closed an underwritten public offering of 5,750 thousand shares of Class A common stock. The Company sold 2,000 thousand newly issued shares of Class A common stock and received net proceeds of approximately $73.9 million after deducting underwriting discounts and commissions and offering expenses.  The remaining 3,750 thousand shares of Class A common stock were sold by selling stockholders and the Company did not receive any proceeds with respect hereto. In conjunction with the 2018 Public Offering, a number of holders of Class B common stock exchanged LLC Interests and corresponding Class B common shares for Class A common stock.  The impact on non-controlling interest is shown along with other exchanges during the year in Note 11 – Non-Controlling Interests.