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.
Was this article valuable?
Here are more articles you may enjoy.
Ex-NFL Player Sentenced to 16 Years in Prison for $200M Medicare Fraud Scheme 
Hedge Funds Make Their Move as Litigation Finance Assets Slump 
Progressive Insurance Helps First-Time Homebuyers With Down Payments 
Florida Governor Signs Bill Dropping Building Permits for Work Valued at $7,500 or Less 
