United Insurance Holdings Corp. Announces Commencement Of Common Stock Offering

United Insurance Holdings Corp. (OTCBB: UIHC) (the Company), a property and casualty insurance holding company, today announced that it has commenced an underwritten public offering of 5,300,075 shares of its common stock, of which 5,000,000 shares will be sold by the Company and 300,075 shares will be sold by existing stockholders of the Company. The Company will not receive any proceeds from the sale of the shares by the selling stockholders. In addition, the Company has granted the underwriters of the offering an option to purchase an additional 750,000 shares of the Company’s common stock to cover over-allotments, if any. Proceeds from this offering are intended for general corporate purposes, including statutory capital in support of growth.

Upon the closing of the offering, the Company expects that its common stock will be listed on The Nasdaq Capital Market, under the symbol “UIHC.”

Raymond James & Associates, Inc. is serving as book-running manager of the proposed offering. Sterne, Agee & Leach, Inc. is serving as co-manager. The offering will be made only by means of a prospectus. A copy of the preliminary prospectus relating to this offering, when available, may be obtained from Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716, (800)-248-8863.

A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

If you liked this article you might like

Hurricane Irma Could Total $40 Billion in Insurance Claims: Why That's Good News

Hurricane Irma Makes Landfall in Florida

Hurricane Irma Unleashes Fury on Insurance Stocks

Monitoring Some Insider Action

Monitoring Some Insider Action

3 Stocks Pushing The Insurance Industry Lower