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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Thu., Sep. 29, 4:21 PM

Slide #19. Arch Capital Group Ltd. Secondary Offering

Company: Arch Capital Group Ltd. (NASDAQ:ACGL)
Date announced: 9/22/2016
Shares Offered: 18,000,000
Date of Pricing: 9/22/2016
Price Per Share: $25.00
Secondary Offering Details: Arch Capital Group Ltd. [NASDAQ:ACGL] announced today that it has priced an underwritten public offering of 18,000,000 Depositary Shares, each of which represents a 1/1,000th interest in a 5.25% Non-Cumulative Preferred Share, Series E, of ACGL. The public offering price is $25 per Depositary Share for an aggregate public offering price of $450 million. The underwriters have been granted a 30-day option to purchase up to an additional 2,700,000 Depositary Shares. The Company intends to use the net proceeds of this offering to fund a portion of the cash consideration for its acquisition of United Guaranty Corporation and AIG United Guaranty Insurance (Asia) Limited from their current owner, American International Group, Inc. (UGC Acquisition), to pay related costs and expenses and for general corporate purposes. The closing of this offering is not contingent on the closing of the UGC Acquisition. The offering is expected to close on September 29, 2016, subject to customary closing conditions.

Arch Capital Group is a holding company. Through its subsidiaries, Co. provides property, casualty and mortgage insurance and reinsurance lines. Co.'s insurance group focuses on: construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health; and other. Co.'s reinsurance group focuses on: casualty; marine and aviation; other specialty; property catastrophe; property excluding property catastrophe; and other. Co.'s mortgage group includes direct mortgage insurance, mortgage reinsurance, and various government sponsored enterprise credit risk-sharing products.

ACGL SEC Filing Email Alerts Service

Preferred: ARH.PRC

Open the ACGL Page at The Online Investor »

Company Name:  Arch Capital Group Ltd
Sector:  Insurance Brokers
Number of ETFs Holding ACGL:  43
Total Market Value Held by ETFs:  $321.90M
Total Market Capitalization:  $9.84B
% of Market Cap. Held by ETFs:  3.27%

Open the ACGL Page at The Online Investor (in a new window) »

September 29, 2016    4:21 PM Eastern
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Hold (2.36 out of 4)
17th percentile
(ranked lower than approx. 83% of all stocks covered)
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