Bermuda’s Arch Capital Group Ltd. announced that it has set the price of the public offering of 6,500,000 of its common shares at $25.50 per common share, and has granted the underwriters an option to purchase an additional 975,000 common shares to cover over-allotments.
The company announced the offering last month (See IJ Website March 19). It plans to raise around $175 million in additional capital. The offer price is slightly below the $27 originally targeted, and lower that the $26.75 closing price of Arch’s shares on April 3.
The offer is scheduled to close on April 8, 2002.
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