Endurance Files Universal Shelf Registration

Bermuda-based Endurance Specialty Holdings Ltd., announced that it has filed an unallocated universal shelf registration statement with the Securities and Exchange Commission.

“Once the shelf registration statement has become effective, Endurance may issue, in one or more offerings, up to $500 million of debt, equity, trust preferred securities or a combination of the above,” said the bulletin.

It also noted that “in addition to the $500 million of securities eligible to be sold from time to time by Endurance, the shelf registration statement also registers for possible future sales up to 38,069,699 ordinary shares beneficially owned by certain of the Company’s founding shareholders. The registration of the founding shareholders’ ordinary shares does not obligate these shareholders to offer or sell any of these shares.”

The company said it had “not been asked to assist in any offerings of ordinary shares by the founding shareholders at this time,” and stressed that it would not receive “any proceeds from any sale of shares by the selling shareholders.”

It also cautioned that the “registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.”