Net Income (Loss) Per Common Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Net Income (Loss) Per Common Share

NET INCOME (LOSS) PER COMMON SHARE

Please refer to Note 1 for information regarding the Company’s treatment of its preferred stock and stock awards in the calculation of its basic and diluted net income or loss per common share and to Note 7 for information

regarding the Company’s stock award activity for the periods presented. The following table presents the computations of basic and diluted net income or loss per common share for the periods indicated:

	Year Ended
	December 31,
($s in thousands)	2024		2023		2022
Weighted average number of common shares outstanding - basic	70,766,410		54,809,462		42,491,433
Incremental common shares-unvested RSUs	194,597		—		76,950
Incremental common shares-unvested PSUs	299,351		—		174,654
Weighted average number of common shares outstanding - diluted	71,260,358		54,809,462		42,743,037
Net income (loss) to common shareholders	$	106,204	$	(13,824)	$	135,467
Net income (loss) per common share-basic	$	1.50	$	(0.25)	$	3.19
Net income (loss) per common share-diluted	$	1.49	$	(0.25)	$	3.17

The calculation of diluted net loss per common share for the year ended December 31, 2023 excludes unvested RSUs and PSUs of 401,522, which would have been anti-dilutive for the period.