BBX Capital Files 8-K

TL;DR

BBX Capital filed an 8-K with updated financials, nothing major to see here.

AI Summary

BBX Capital, Inc. filed an 8-K on July 8, 2024, reporting events as of July 1, 2024. The filing primarily concerns financial statements and exhibits, with no specific material events detailed in the provided text. The company is incorporated in Florida and headquartered in Fort Lauderdale.

Why It Matters

This 8-K filing indicates that BBX Capital, Inc. is providing updated financial statements and exhibits to the SEC, which is a standard regulatory requirement.

Risk Assessment

Risk Level: low — The filing appears to be routine and does not disclose any significant new risks or material adverse events.

Key Players & Entities

• BBX Capital, Inc. (company) — Registrant
• July 1, 2024 (date) — Earliest event reported
• July 8, 2024 (date) — Date of report
• Fort Lauderdale, Florida (location) — Principal executive offices

FAQ

Key Financial Figures

• $11.9 million — ital Real Estate invested an additional $11.9 million in the joint venture, increasing its in
• $0.9 million — ts investment in the joint venture from $0.9 million to $12.8 million. As previously disclos
• $12.8 million — the joint venture from $0.9 million to $12.8 million. As previously disclosed, BBX Capital R
• $5.0 million — for a revolving line of credit of up to $5.0 million that matured in June 2024. On July 8,
• $7.0 million — ing line of credit from $5.0 million to $7.0 million and to extend the maturity date to June
• $2.0 million — tters of credit up to the lesser of (a) $2.0 million and (b) the amount of revolving commitm

Filing Documents

• bbxi20240628_8k.htm (8-K) — 28KB
• ex_694488.htm (EX-99.1) — 13KB
• 0001437749-24-022281.txt ( ) — 172KB
• bbxia-20240701.xsd (EX-101.SCH) — 3KB
• bbxia-20240701_def.xml (EX-101.DEF) — 11KB
• bbxia-20240701_lab.xml (EX-101.LAB) — 15KB
• bbxia-20240701_pre.xml (EX-101.PRE) — 11KB
• bbxi20240628_8k_htm.xml (XML) — 3KB

.01. Other Events

Item 8 .01. Other Events The Park at Davie On July 1, 2024, BBX Logistics Properties, LLC ("BBX Logistics"), the logistics development subsidiary of BBX Capital Real Estate LLC ("BBX Capital Real Estate"), a wholly-owned subsidiary of BBX Capital, Inc. (the "Company"), announced that its BBX Park at Davie joint venture, a joint venture with affiliates of FRP Holdings, Inc., acquired 11.3 acres of land in Davie, Florida for the purpose of developing a logistics facility. In connection with the acquisition, BBX Capital Real Estate invested an additional $11.9 million in the joint venture, increasing its investment in the joint venture from $0.9 million to $12.8 million. As previously disclosed, BBX Capital Real Estate currently owns a 50% membership interest in the joint venture. However, pursuant to the terms of the operating agreement for the joint venture, upon the origination of debt financing for the development and the commencement of vertical construction of the logistics facility, BBX Logistics and FRP will recapitalize the joint venture, with BBX Capital Real Estate subsequently owning a 20% membership interest in the venture and FRP owning the remaining 80% membership interest in the joint venture. However, there is no assurance that the venture will be able to obtain entitlements for the development or debt financing for the development on acceptable terms, or at all. BBX Logistics' press release issued on July 1, 2024 announcing the land acquisition by the BBX Park at Davie joint venture is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. Regions Bank Revolving Line of Credit - IT'SUGAR Credit Facility In January 2023, IT'SUGAR entered into a credit agreement (the "IT'SUGAR Credit Facility") with Regions Bank which provided for a revolving line of credit of up to $5.0 million that matured in June 2024. On July 8, 2024, the IT'SUGAR Credit Facility was amended, effective June 20, 2024, to increa

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. d) Exhibit. 99.1 Press Release dated July 1, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: July 8, 2024 BBX Capital, Inc. By: /s/ Brett Sheppard Brett Sheppard Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR