Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, May 21, 8:45 AM
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Slide #167. 1347 Property Insurance Holdings, Inc. — Preferred Stock Offering
1347 Property Insurance Holdings, Inc. (PIH)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
1347 Property Insurance Holdings, Inc. (NASDAQ:PIH) announced today that it has priced an underwritten public offering of 640,000 shares of 8.00% Cumulative Preferred Stock, Series A ("Cumulative Preferred Stock"), at a price of $25.00 per share, pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission (the "SEC"). In addition, 1347 Property Insurance Holdings has granted the underwriters a 30-day option to purchase up to an additional 96,000 shares of Cumulative Preferred Stock. The offering is expected to close on or about February 28, 2018, subject to customary closing conditions.
1347 Property Insurance Holdings is a holding company. Co.'s wholly owned subsidiary, Fundamental Global Advisors, LLC, serves as an investment advisor to FedNat Holding Company under an investment advisory agreement. In addition, Co. is in the process of forming a wholly owned reinsurance subsidiary, Fundamental Global Reinsurance Ltd., to provide specialty property and casualty reinsurance.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com