Subsequent Events

6 Months Ended

Jun. 30, 2013

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Definitive Merger:

In August 2013, Spigit signed a definitive merger agreement with another privately held enterprise software company. Under the terms of agreement, Spigit shareholders will receive 30% of the ownership of the merged company on a fully diluted basis and, as such, PICO will own approximately 22.6% of the merged company on a fully diluted basis.  The closing of the merger is subject to various contingencies including obtaining Spigit shareholder approval, and the successful completion of additional financing.

Public Offering:

On July 17, 2013, UCP Inc., PICO’s newly created, wholly-owned subsidiary, sold 7,750,000 shares of its Class A common stock at $15 per share in an initial public offering to outside investors. Net proceeds to UCP Inc. were $108.1 million before direct offering costs.