HAMILTON, Bermuda, Aug. 29, 2012 (GLOBE NEWSWIRE) -- Maiden Holdings, Ltd. (Nasdaq:MHLD) today announced that it has closed its 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. The offering was priced on August 22, 2012. Total net proceeds from the offering were approximately $145.0 million, after deducting the underwriting discount and estimated offering expenses payable by the Company. As previously announced, Maiden expects to use the net proceeds from the offering for continued support and development of its reinsurance business and for other general corporate purposes, which may include repurchasing the Company's outstanding common shares and repurchasing the Company's outstanding 14% 30-year trust preferred securities ("TRUPS") issued in January 2009. The Company presently has no plans to repurchase a portion of the outstanding TRUPS with these proceeds prior to January 20, 2014 and expects to invest such net proceeds in marketable fixed income securities and short term investments. 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. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, and Wells Fargo Securities, LLC acted as the Joint Book-Running Managers for the offering along with Senior Co-Manager Goldman, Sachs & Co. and Co-Managers FBR Capital Markets & Co., JMP Securities LLC, Keefe, Bruyette & Woods, Inc., and Sterne, Agee & Leach, Inc. The Preferred Shares may be offered only by means of a Prospectus Supplement and accompanying base Prospectus, copies of which may be obtained by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322; Morgan Stanley & Co. LLC toll-free at 1-866-718-1649; or Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, Attn: Capital Markets Client Support, calling toll-free 1-800-326-5897 or e-mailing: firstname.lastname@example.org, or by visiting the SEC website at www.sec.gov . About Maiden Holdings, Ltd. Maiden Holdings, Ltd. is a Bermuda-based holding company formed in 2007. Through its subsidiaries, which are each A- rated (excellent) by A.M. Best, the Company is focused on providing non-catastrophic, customized reinsurance products and services to small and mid-size insurance companies in the United States and Europe. As of June 30, 2012, Maiden had $3.8 billion in assets and shareholders' equity of $824.3 million.