PXRE Files $700M Shelf Reg.

Bermuda-based PXRE Group Ltd. announced that it has filed a shelf registration statement with the Securities and Exchange Commission for the proposed offering of up to $700 million of its securities, including approximately $198 million of previously registered securities.

“This shelf registration statement provides the Company with the flexibility to sell debt securities, common and preferred shares, depository shares, warrants, purchase contracts and units comprised of one or more securities, as well as trust preferred securities or a combination of the above,” said the bulletin. “The registration statement also covers the resale of previously registered securities of the Company that may be offered and sold by selling shareholders.”

PXRE cautioned that the “shelf 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 at which the registration statement has been declared effective by the Securities and Exchange Commission.”