Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thu, April 18, 9:52 PM
This Slide: #388 of 620 |
Slide #388. National General Holdings Corp. — Preferred Stock Offering
Company:
National General Holdings Corp. (NGHC)
Date announced:
3/24/2015
Shares Offered:
6,000,000
Date of Pricing:
3/24/2015
Price Per Share:
$25
Preferred Stock 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 a variety of insurance products, including personal and small business automobile, homeowners, umbrella, recreational vehicle (RV), motorcycle, lender-placed, supplemental health, and other insurance products. Co. has two segments: Property and Casualty, which sells nonstandard automobile insurance, provides standard and preferred auto, motorcycle, small business vehicle, homeowners and umbrella products, and underwrites and markets standard and preferred auto and RV insurance; and Accident and Health, which provides accident and non-primary medical health insurance products.
Preferred: NGHCP
Open the NGHC Page at Preferred Stock Channel »
|
Open the NGHC Page at Preferred Stock Channel (in a new window) »
Free NGHC Email Alerts: Get Dividend Alerts Get SEC Filing Alerts |
Hold (2.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
|