Bluegreen Vacations announces final results of tender offer

Bluegreen Vacations announced the final results of its cash tender offer to purchase up to 4,500,000 shares of its Class A Common Stock at a purchase price of $25.00 per share. The tender offer expired at 5:00 P.M., Eastern time, on Friday, December 23, 2022. Based on the final count by American Stock Transfer & Trust Company, LLC, the Depositary for the tender offer, a total of 3,040,882 shares of Bluegreen’s Class A Common Stock were properly tendered and not withdrawn. In accordance with the terms and conditions of the tender offer, Bluegreen will purchase all 3,040,882 shares tendered for an aggregate price of approximately $76M, excluding fees and expenses relating to the tender offer. The Depositary will promptly issue payment for the shares being purchased. The shares to be purchased represent approximately 18.9% of the issued and outstanding shares of Bluegreen’s Class A Common Stock and 15.4% of the total number of issued and outstanding shares of Bluegreen’s Class A Common Stock and Class B Common Stock. The shares purchased in the tender offer will be canceled by the Company. After giving effect to the purchase and cancellation of the shares, Bluegreen will have 16,719,269 shares of Common Stock issued and outstanding, consisting of 13,055,152 shares of Class A Common Stock and 3,664,117 shares of Class B Common Stock.