Arch Announces $200 Million Public Offering

August 16, 2017

Bermuda-based Arch Capital Group Ltd. [ACGL] has priced an underwritten public offering of 8,000,000 Depositary Shares, each of which represents a 1/1,000th interest in a 5.45% Non-Cumulative Preferred Share, Series F, of ACGL.

The public offering price is $25 per Depositary Share for an aggregate public offering price of $200 million. The underwriters have been granted a 30-day over-allotment option to purchase up to an additional 1,200,000 Depositary Shares.

The Company intends to use the net proceeds of this offering to redeem in part its outstanding Series C Non-Cumulative Preferred Shares. The offering is expected to close on August 17, 2017, subject to customary closing conditions. The Company has applied to list the Depositary Shares on NASDAQ under the symbol “ACGLO.”

On or after August 17, 2022, the Company may redeem all or a portion of the Series F Preferred Shares at a redemption price equal to $25,000 per Series F Preferred Share [equivalent to $25 per Depositary Share], plus declared and unpaid dividends, if any, to, but excluding, the date of redemption.

The offering is being led by Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC and J.P. Morgan Securities LLC as joint book-running managers.

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