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Buy (3.11 out of 4)
42nd percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Wednesday, December 4, 9:18 AM
Slide #314. Arch Capital Group Ltd. — Preferred Stock Offering
| Company: |
Arch Capital Group Ltd. (NASDAQ:ACGL) |
| Date announced: |
9/22/2016 |
| Shares Offered: |
18,000,000 |
| Date of Pricing: |
9/22/2016 |
| Price Per Share: |
$25.00 |
| Preferred Stock Offering Details: |
Arch Capital Group Ltd. [NASDAQ:ACGL] announced today that it has priced an underwritten public offering of 18,000,000 Depositary Shares, each of which represents a 1/1,000th interest in a 5.25% Non-Cumulative Preferred Share, Series E, of ACGL. The public offering price is $25 per Depositary Share for an aggregate public offering price of $450 million. The underwriters have been granted a 30-day option to purchase up to an additional 2,700,000 Depositary Shares. The Company intends to use the net proceeds of this offering to fund a portion of the cash consideration for its acquisition of United Guaranty Corporation and AIG United Guaranty Insurance (Asia) Limited from their current owner, American International Group, Inc. (UGC Acquisition), to pay related costs and expenses and for general corporate purposes. The closing of this offering is not contingent on the closing of the UGC Acquisition. The offering is expected to close on September 29, 2016, subject to customary closing conditions. |
Arch Capital Group Ltd. is a Bermuda-based company, which provides insurance, reinsurance and mortgage insurance through its subsidiaries. The insurance segment consists of the Co.'s insurance underwriting units, which offer specialty product lines, including construction and national accounts; excess and surplus casualty; professional lines; programs; property, energy, marine and aviation; travel, accident and health; warranty and lenders solutions, and others (consisting of alternative markets, excess workers' compensation and surety business). Preferreds: ACGLP, ARH.PRC, ACGLO, ACGLN
 Open the ACGL Page at Preferred Stock Channel »
| Name: |
Arch Capital Group Ltd |
| Website: |
www.archcapgroup.com |
| Sector: |
Insurance Brokers |
| Number of ETFs Holding ACGL: |
136 (see which ones) |
| Total Market Value Held by ETFs: |
$5,085,335,713.1 |
| Total Market Capitalization: |
$37,895,000,000 |
| % of Market Cap. Held by ETFs: |
13.42% |
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