Bermuda’s Arch Capital Group Ltd. announced that its offering of 7,475,000 common shares at $25.50 per common share (See IJ Website April 4) resulted in net proceeds of approximately $179 million.
The offering, which closed on Monday, included the exercise in full of the underwriters’ over-allotment option. The company stated that, “the net proceeds of the offering will be used by the company principally to support future growth of its insurance and reinsurance operations.”|”arch, capital, public, offering, raises, $179, million,
Was this article valuable?
Here are more articles you may enjoy.
Are Software Vendors Holding Insurers Hostage? Build Your Own, Webinar Says 
Florida’s Private Railroad, Brightline, Files for Bankruptcy 
Florida’s Commercial Clearinghouse Plan Hits a Snag, With OIR and Board Concerns 
New Data Centers Worth $68 Billion Disrupted in US, Data Show 
