NYMAGIC Plans Secondary Stock Offering

NYMAGIC, INC. announced plans for a secondary offering of 1,500,000 shares of its common stock by a group of selling shareholders.

The company’s announcement identified them as including the following:
– Mark W. Blackman, a son of the Company’s founder who is currently a director of the Company and its Chief Underwriting Officer;
– Blackman Investments LLC, a company controlled by John N. Blackman, Jr., also a son of the Company’s founder who is currently a director of the Company;
– and three trusts and a foundation established by Louise B. Tollefson, the former wife of the Company’s founder. Robert G. Simses, a director of NYMAGIC INC. is a trustee of these entities.
The bulletin also noted that “one of the selling shareholders has also granted the underwriters an option to purchase up to an additional 150,000 shares of common stock to cover over-allotments.”

NYMAGIC will not sell any shares of its common stock in this offering.

“A registration statement relating to these securities has been filed with the Securities and Exchange Commission and has been declared effective. Keefe, Bruyette & Woods, Inc. is serving as lead manager of the offering, and Friedman, Billings, Ramsey & Co. Inc., and Ferris, Baker Watts, Incorporated are serving as co-managers,” said the bulletin. “Copies of the preliminary prospectus supplement and accompanying prospectus may be obtained from Keefe, Bruyette & Woods, Prospectus Department, 787 7th Avenue, 4th Floor, New York, NY 10019.”