Secondary Stock OfferingsBy The Online Investor Staff, updated Sat., May. 8, 6:49 AM
|This Slide: #4 of 25|
Slide #4. James River Group Holdings, Ltd. — Secondary Offering
James River Group Holdings, Ltd. (NASDAQ:JRVR)
Date of Pricing:
Price Per Share:
Secondary Offering Details:
James River Group Holdings, Ltd. (NASDAQ:JRVR) (the "Company") announced today that it commenced an underwritten public offering of approximately $175 million of its common shares. The Company expects to use the net proceeds from the offering for general corporate purposes. The Company also expects to grant the underwriters a 30-day option to purchase up to approximately $26 million of additional common shares. -updated 5/6- James River Group Holdings, Ltd. (NASDAQ:JRVR) (the "Company") announced today that it has priced the previously announced underwritten public offering of 5,650,000 of its common shares at a price to the public of $31.00 per share or an aggregate of $175,150,000. The Company expects to use the net proceeds from the offering for general corporate purposes. The offering is expected to close on May 10, 2021, subject to customary closing conditions. The Company has granted the underwriters a 30-day option to purchase up to 847,500 additional common shares at the public offering price, less the underwriting discounts and commissions.
James River Group Holdings is an insurance and reinsurance holding company. Co. owns and operates a group of specialty insurance and reinsurance companies. Co.'s Excess and Surplus Lines (E&S) segment sells E&S commercial lines liability and property insurance. Co.'s Specialty Admitted Insurance segment has two areas of focus. Co. writes a select book of workers' compensation coverage for building trades, healthcare employees and light manufacturing. Co. also writes fronting business. Co.'s Casualty Reinsurance segment provides proportional and working layer casualty reinsurance to third parties and to Co.'s United States-based insurance subsidiaries.
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Buy (2.80 out of 4)