HAMILTON, Bermuda, Aug. 22, 2012 (GLOBE NEWSWIRE) -- Maiden Holdings, Ltd. (Nasdaq:MHLD) today announced that it has priced an underwritten public offering of $150 million of its 8.25% Non-Cumulative Preferred Shares (the "Preferred Shares"), with a liquidation preference of $25.00 per share. Maiden expects to receive the net proceeds from the sale of the Preferred Shares ("Preferred Share Offering") on August 29, 2012. Except in certain limited circumstances, the Preferred Shares are not redeemable prior to August 29, 2017. After that date, the Company may redeem at its option, in whole or in part, the Preferred Shares at a redemption price of $25.00 per share plus unpaid accumulated dividends to the extent declared. Maiden intends to apply to list the Preferred Shares for trading on the New York Stock Exchange under the symbol "MHPRA."
Maiden Holdings Announces Pricing Of $150 Million 8.25% Non-Cumulative Perpetual Preferred Share Offering And Authorization To Repurchase Common Shares
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.