Dallas-based Specialty Underwriters’ Alliance Inc. announced that Friedman, Billings, Ramsey Group Inc., William Blair & Company and Cochran, Caronia & Co., as managing underwriters and representatives of several underwriters, have exercised their over-allotment option to acquire 422,000 shares of the company’s common stock, at a price of $9.50 per share, before underwriting discounts and commissions.
The over-allotment option is in connection with Specialty Underwriters’ Alliance’s recent initial public offering of 12.7 million shares.
Net proceeds to the company from the over-allotment option are estimated to be approximately $3.7 million.
The public offering is being made by means of a prospectus, a copy of which may be obtained from Friedman, Billings, Ramsey Group, 1001 Nineteenth Street North, 18th Floor, Arlington, Va. 22209.
Specialty Underwriters’ Alliance Inc., a commercial property and casualty insurance company, uses a business model that stresses a “partnership” relationship with key agents knowledgeable in the specialty types of commercial property and casualty insurance it writes.
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
