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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Thu., Nov. 27, 4:08 AM

Slide #20. Essent Group Ltd. Secondary Offering

Company: Essent Group Ltd. (NYSE:ESNT)
Date announced: 11/17/2014
Shares Offered: 6,000,000
Date of Pricing: 11/19/2014
Price Per Share: $22.25
Secondary Offering Details: Essent Group Ltd. (the "Company")(NYSE:ESNT) announced today that it has commenced a public offering in which it is offering 6,000,000 common shares and certain selling shareholders are offering 6,000,000 common shares (the "Offering"). The underwriters will have the option to purchase up to an aggregate of 1,800,000 additional common shares from the selling shareholders. The public offering price of the Company's common stock will be determined, based on market conditions, at the time of the pricing of the Offering. The Offering is subject to market conditions, and there can be no assurance as to whether the Offering will be completed, or as to the actual size or terms of the Offering. - updated 11/20 - Essent Group Ltd. (the "Company") (NYSE:ESNT) announced today the pricing of its previously announced public offering of 12,000,000 common shares at $22.25 per share. Of the 12,000,000 common shares offered, 6,000,000 common shares are being sold by the Company and 6,000,000 are being sold by certain selling shareholders (the "Offering"). The Company expects to receive proceeds from the Offering, net of underwriting discounts and commissions and estimated expenses payable by the Company, of approximately $126.6 million. The Company will not receive any proceeds from the sale of common shares by the selling shareholders. In connection with the Offering, the underwriters have a thirty-day option to purchase up to 1,800,000 additional common shares from the selling shareholders. The Offering is expected to close on November 25, 2014, subject to customary closing conditions.

Essent Group is a holding company. Through its subsidiaries, Co. provides private mortgage insurance and reinsurance for mortgages secured by residential properties located in the U.S. Mortgage insurance provides credit protection to lenders and investors against financial loss due to defaults on mortgage loans secured by residential property. Mortgage insurance facilitates the sale of low-down payment mortgage loans into the secondary mortgage market, primarily to the government sponsored enterprises, The Federal National Mortgage Association and The Federal Home Loan Mortgage Corporation. Through its Essent Reinsurance, Ltd. subsidiary, Co. provides reinsurance coverage of mortgage risk.
Open the ESNT Page at The Online Investor »

Company Name:  Essent Group Ltd
Sector:  Insurance Brokers
Number of ETFs Holding ESNT:  17
Total Market Value Held by ETFs:  $33.13M
Total Market Capitalization:  $2.08B
% of Market Cap. Held by ETFs:  1.59%

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

November 27, 2014    4:08 AM Eastern
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Buy (3.17 out of 4)
53rd percentile
(ranked higher than approx. 53% of all stocks covered)
Based on Zacks ABR data;
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