NEW YORK, June 10, 2013 (GLOBE NEWSWIRE) -- AmTrust Financial Services, Inc. (Nasdaq:AFSI) (the "Company") today announced that it has closed an underwritten public offering of 4.6 million shares of its 6.75% Non-Cumulative Preferred Stock, Series A (the "Preferred Stock") with a liquidation preference of $25.00 per share, or $115 million in aggregate liquidation preference. The offering was priced on June 3, 2013.
Total net proceeds of the offering were approximately $111 million, after deducting the underwriting discount and estimated offering expenses payable by the Company. The Company expects to use the net proceeds from the offering for general corporate purposes.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor will there be any offer or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The Preferred Stock may be offered only by means of a Prospectus Supplement and accompanying base Prospectus. You may obtain a copy of the Prospectus Supplement and accompanying Prospectus from the SEC at www.sec.gov . Alternatively, the underwriters may arrange to send you these documents if you request them by contacting Morgan Stanley & Co. LLC, Attention Prospectus Department, 180 Varick Street, New York, NY 10014, or by email at email@example.com or from UBS Securities LLC, 299 Park Avenue, New York, NY 10171, Attention: Prospectus Specialist, (877) 827-6444, ext. 561 3884.About AmTrust Financial Services, Inc. AmTrust Financial Services, Inc., headquartered in New York City, is a multinational insurance holding company, which, through its insurance carriers, offers specialty property and casualty insurance products, including workers' compensation, commercial automobile and general liability; extended service and warranty coverage. For more information about AmTrust, call AmTrust toll-free at 866.203.3037.