Bermuda’s Aspen Insurance Holdings Limited announced that the underwriters of its previously announced initial public offering of ordinary shares have exercised in full their over-allotment option to purchase an additional 1,578,600 shares.
“This completes the Company’s ordinary share offering whereby a total of 12,102,600 shares were sold with net proceeds to the Company of approximately $245.5 million,” said the announcement.
Aspen indicated that it “intends to use the proceeds from the offering to provide initial or additional capital to its subsidiaries, to repay a portion of the outstanding debt under its revolving credit facilities and for other general corporate purposes.”
It also noted that “following the offering and the exercise of the over-allotment option, and upon the issuance of 152,583 ordinary shares due to the exercise of 440,144 options by the Names’ Trustee on a cash and cashless basis, the Company will have 69,179,303 shares outstanding.”
Was this article valuable?
Here are more articles you may enjoy.
US P/C Industry Books Best Result in a Decade but Not All Lines Enjoy Success 
Insurers Must Defend Hotels Accused of Sex Trafficking of Minors 
Allstate’s $1.7M RICO Claims Fraud Suit Merits Trial, Not Arbitration: NJ High Court 
Lloyd’s of London Says Former CEO Neal Breached Compliance Rules 
