. 8 . stockholders 2019 equity in november 2005 , the company completed an initial public offering and issued an additional 9.5 million shares of common stock . as part of the initial public offering , 1.2 million outstanding shares of convertible common stock held by rosewood entities were converted to class a common stock on a three-for-one basis . the company received proceeds of $ 112.7 million net of $ 10.8 million in stock issue costs , which it used to repay the $ 25