This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AXIS Capital Announces Secondary Offering Of Common Shares

AXIS Capital Holdings Limited (“AXIS Capital”) (NYSE: AXS) today announced an underwritten secondary public offering of 2,736,223 common shares. The common shares are being sold by Trident II, L.P. and related entities (“Trident”). After giving effect to this offering and the recently announced repurchase of 3,000,0000 common shares by AXIS Capital from Trident, Trident will no longer own any of AXIS Capital’s common shares. No common shares are being sold by AXIS Capital in this offering, and it will not receive any proceeds from the offering.

UBS Investment Bank will be the sole underwriter for the offering of the common shares. The common shares are being offered and sold under AXIS Capital’s effective shelf registration statement on Form S-3 (No 333-165548).

The common shares purchased by the underwriter are expected to be offered for resale from time to time in negotiated transactions or otherwise, at market prices on the New York Stock Exchange prevailing at the time of sale, at prices related to such prevailing market prices or otherwise. On February 8, 2013, the closing price of the AXIS Capital’s common shares on the New York Stock Exchange was $40.30 per share.

In no event will this press release constitute an offer to sell or a solicitation of an offer to buy any common shares or any other securities of AXIS Capital, nor shall there be any sale of the common shares in any jurisdiction in which such offer, solicitation or sale is not permitted. This offering may be made only by means of the preliminary prospectus supplement and accompanying prospectus. You may obtain a copy of the preliminary prospectus supplement, the final prospectus supplement, when available, and the accompanying prospectus, from the website of the Securities and Commission at www.sec.gov. Alternatively, the underwriter will arrange to send you these documents if you request them by contacting UBS Investment Bank, Attention: Prospectus Dept., 299 Park Avenue, New York, NY 10171 or by calling toll-free: (888) 827-7275.

About AXIS Capital

AXIS Capital is a Bermuda-based global provider of specialty lines insurance and treaty reinsurance with shareholders’ equity at December 31, 2012 of $5.8 billion and locations in Bermuda, the United States, Europe, Singapore, Canada, Australia and Latin America.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs