NYMAGIC, INC. announced that certain selling shareholders have priced their public offering of two million shares of the company’s common stock at $24.65 per share.
The number of shares to be sold represents an increase of 500,000 shares from the previously announced offering. The Company itself is not selling any shares of common stock.
The company’s bulletin identified the selling shareholders as: “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.”
It added 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, if any.”
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