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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Fri., Mar. 27, 8:31 PM

Slide #2. National General Holdings Corp. Secondary Offering

Company: National General Holdings Corp. (NASDAQ:NGHC)
Date announced: 3/24/2015
Shares Offered: 6,000,000
Date of Pricing: 3/24/2015
Price Per Share: $25
Secondary Offering Details: National General Holdings Corp. (Nasdaq:NGHC) (the "Company" or "National General") today announced that on March 24, 2015 it priced an underwritten public offering of 6 million of its depositary shares (the "Depositary Shares"), each representing a 1/40th interest in a share of its 7.50% Non-Cumulative Preferred Stock, Series B (the "Preferred Stock"), with a liquidation preference of $1,000 per share (equivalent to $25 per Depositary Share), or $150 million in aggregate liquidation preference. The offering price per Depositary Share is $25, for aggregate gross proceeds of $150 million. The Company has granted the underwriters a 30-day option, expiring on April 23, 2015, to purchase up to an additional 900,000 Depositary Shares from the Company on the same terms and conditions.

National General Holdings is a personal lines insurance holding company. Through its subsidiaries, Co. provides personal and commercial automobile insurance, supplemental health insurance products and other insurance products. Co. has two segments: Property and Casualty, which provides property and casualty insurance products to protect customers against losses due to physical damage to their motor vehicles, bodily injury and liability to others for personal injury or property damage arising out of auto accidents; and Accident and Health, which provides accident and medical health insurance products targeting existing policyholders and the employed persons who are uninsured or underinsured.

Preferred: NGHCP

Open the NGHC Page at The Online Investor »

Company Name:  National General Holdings Corp
Sector:  Insurance Brokers
Number of ETFs Holding NGHC:  15
Total Market Value Held by ETFs:  $17.98M
Total Market Capitalization:  $1.66B
% of Market Cap. Held by ETFs:  1.08%

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

March 27, 2015    8:31 PM Eastern
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Strong Buy (4.00 out of 4)
91st percentile
(ranked higher than approx. 91% of all stocks covered)
Based on Zacks ABR data;
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