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SiriusPoint Ltd | 8% Resettable Fixed Rate Preference Shares, Series B (SPNT.PRB)
Prospectus excerpt: The selling shareholders named in this prospectus supplement (the “Selling Shareholders”) are offering to sell 5,000,000 shares of our 8.00% Resettable Fixed Rate Preference Shares, Series B, par value $0.10 per share, $25.00 liquidation preference per share (the “Series B Preference Shares”). We will not receive any proceeds from sales of the Series B Preference Shares offered by the Selling Shareholders pursuant to this prospectus supplement, but we have agreed to pay certain registration expenses, other than underwriting discounts and commissions. Dividends on the Series B Preference Shares are cumulative from May 31, 2021 and will be payable quarterly in arrears on the last day of February, May, August and November of each year, from and including August 31, 2021, when, as and if declared by our board of directors (the “Board of Directors”). Dividends on each Series B Preference Share accrue from, and include, May 31, 2021, whether or not declared, and whether or not there are earnings or profits, surplus or other funds or assets of the Company legally available for the payment of dividends. Dividends will be payable in an amount per Series B Preference Share equal to (i) from and including May 31, 2021, to but excluding February 26, 2026, an amount equal to 8.00% of $25.00 per annum, or $2.00, and (ii) from and including February 26, 2026, during each Reset Period (as defined in “Description of Series B Preference Shares”), an amount equal to (A) the Five-Year U.S. Treasury Rate (as defined in “Description of Series B Preference Shares”) as of the most recent Reset Dividend Determination Date (as defined in “Description of Series B Preference Shares”) plus (B) 7.298% of $25.00 per annum. Full Prospectus PDF », Secondary Prospectus PDF », SPNT Page »
Series: | B | Alternate symbology: | SPNT-B, SPNT-PB, SPNTprB | Redeemable?: | Yes | Call Date: | 2/26/2026 | Perpetual?: | Yes | Cumulative?: | Yes | Shares Offered: | 5,000,000 | Overallotment: | 750,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $25.30 | Premium to Liquidation Preference: (More Preferreds Trading at a Premium ») | $0.30 (1.20%) | Annualized Dividend: | 2 | Recent Ex-Date: | 2/13/2024 | Current Yield: | 7.91% | Original Coupon: | 8.0% until 2/26/2026, then equal to the sum of the Five-Year U.S. Treasury Rate on the applicable fixed rate calculation date plus 7.298%, resetting every 5 years thereafter on applicable fixed rate calculation date | Pay Period: | Quarterly | Pay Dates: | 28-Feb, 31-May, 31-Aug, 30-Nov | CDx3 Compliance Rating: |
Learn SPNT.PRB's Rating
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SiriusPoint is a holding company. Through its reinsurance subsidiaries, Co. provides property and casualty reinsurance products to insurance and reinsurance companies. Co. has one segment: Property and Casualty Reinsurance. Co.'s Property and Casualty Reinsurance segment products include: property catastrophe, which is comprised of excess of loss and/or proportional coverages to insurance and reinsurance companies and provides protection to an insured for losses from a single catastrophic event or series of events; other property, which consists of exposure to homeowners' and commercial lines insurance coverage; and auto, which consists of personal and commercial automobile insurance. Preferred: SPNT.PRB Open the SPNT Information Page »
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Name: |
SiriusPoint Ltd |
Website: |
www.thirdpointre.bm |
Sector: |
Insurance Brokers |
Number of ETFs Holding SPNT: |
49 (see which ones) |
Total Market Value Held by ETFs: |
$270,702,228.8 |
Total Market Capitalization: |
$2,019,000,000 |
% of Market Cap. Held by ETFs: |
13.41% |
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