HCC Insurance Holdings Inc., headquartered in Houston, Texas, announced it has agreed to sell 4,687,500 shares of common stock to Citigroup Corporate and Investment Banking as sole book-running manager. HCC has granted Citigroup an over allotment option to purchase an additional 703,125 shares. Closing of the common stock offering is expected to occur on Nov. 23, 2005.
The company intends to use the net proceeds of the common stock offering for general corporate purposes, including contributing capital to its insurance company subsidiaries and funding pending and future acquisitions.
A copy of the prospectus meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained from Citigroup Corporate and Investment Banking, Attn: Prospectus Department, Brooklyn Army Terminal 140, 58th Street, 8th Floor, Brooklyn New York 11220 or by calling (718) 765-6732.
HCC is an international insurance holding company and a leading specialty insurance group since 1974, based in Houston, Texas with offices across the USA and in Bermuda, England and Spain.
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