Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

v3.24.1.u1
SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

13. SUBSEQUENT EVENTS

The Company’s management has evaluated subsequent events through May 2, 2024, the date the financial statements were issued.

On April 1, 2024, the Company completed its previously announced merger with American National, pursuant to the Agreement and Plan of Merger, dated as of July 24, 2023. Under the terms of the merger agreement, at the effective time of the merger, each outstanding share of American National common stock was converted into 1.35 shares of the Company’s common stock, resulting in the Company issuing 14.3 million shares of its common stock, valued at approximately $505.8 million as of March 28, 2024, which was the last trading day prior to the consummation of the acquisition. In addition, cash consideration of $76,000 was paid for the settlement of fractional shares.