Arch Announces Secondary Public Offering
Arch Capital Group Ltd. announced an underwritten public secondary offering of 5,674,200 common shares by certain selling shareholders affiliated with American International Group, Inc. has priced.
The public offering price is $88.55 per common share for an aggregate public offering price of $502,450,410. Proceeds from the sale of common shares pursuant to the public offering will be received by the Selling Shareholder.
The Company will not receive any proceeds from the sale of common shares pursuant to the public offering. The offering is expected to close on March 13, 2018, subject to customary closing conditions.
The offering is being led by Barclays and Deutsche Bank Securities Inc. as joint book-running managers.
Arch Capital Group Ltd., a Bermuda-based company with approximately $11.30 billion in capital at December 31, 2017, writes insurance, reinsurance and mortgage insurance on a worldwide basis through its wholly owned subsidiaries.
