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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Mon., Nov. 30, 4:46 AM

Slide #21. AmTrust Financial Services, Inc. Secondary Offering

Company: AmTrust Financial Services, Inc. (AFSI)
Date announced: 11/10/2015
Shares Offered: 5,000,000
Date of Pricing: 11/11/2015
Price Per Share: $63.00
Secondary Offering Details: AmTrust Financial Services, Inc. (Nasdaq:AFSI) (the "Company" or "AmTrust") today announced the commencement of an underwritten public offering of 5,000,000 shares of its common stock, pursuant to a registration statement on Form S-3 previously filed with the U.S. Securities and Exchange Commission. The Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares. We intend to use a portion of the net proceeds from this offering to finance our previously announced Nationale Borg and Republic acquisitions. Other than in connection with these acquisitions, we currently intend to use the remainder of the net proceeds from this offering for general corporate purposes, which includes working capital, capital expenditures and/or strategic acquisitions. -updated 11/11- AmTrust Financial Services, Inc. (Nasdaq:AFSI) (the "Company" or "AmTrust") today announced that it has completed the sale of 5,000,000 shares of its common stock to the underwriters in its previously announced underwritten public offering. The Company will receive from the transaction $315.0 million prior to offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares at the same price per share. Morgan Stanley & Co. LLC and Citigroup acted as joint book-running managers of the offering. The offering is subject to customary closing conditions and is expected to close on Monday, November 16, 2015.

AmTrust Financial Services underwrites and provides property and casualty insurance in the U.S. and internationally. Co. manages its business through three segments: Small Commercial Business, which provides workers' compensation, and commercial package and other property and casualty insurance products to small businesses; Specialty Risk and Extended Warranty, in which Co. provides coverage for consumer and commercial goods and custom designed coverages; as well as Specialty Program, which provides workers' compensation, general liability, commercial auto liability, property coverage, excess and surplus lines programs and other specialty commercial property and casualty insurance.

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Company Name:  AmTrust Financial Services Inc
Stock buyback:  AFSI buyback
Sector:  Insurance Brokers
Number of ETFs Holding AFSI:  36
Total Market Value Held by ETFs:  $93.94M
Total Market Capitalization:  $5.16B
% of Market Cap. Held by ETFs:  1.82%

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November 30, 2015    4:46 AM Eastern
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Strong Buy (3.80 out of 4)
81st percentile
(ranked higher than approx. 81% of all stocks covered)
Based on Zacks ABR data;
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