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By Ru Back Packer Staff, updated Sunday, January 28, 9:44 AM

Slide #182. National General Holdings Corp. Preferred Stock Offering

Company: National General Holdings Corp. (NASDAQ:NGHC)
Date announced: 3/24/2015
Shares Offered: 6,000,000
Date of Pricing: 3/24/2015
Price Per Share: $25
Preferred Stock Offering Details: National General Holdings Corp. (Nasdaq:NGHC) (the "Company" or "National General") today announced that on March 24, 2015 it priced an underwritten public offering of 6 million of its depositary shares (the "Depositary Shares"), each representing a 1/40th interest in a share of its 7.50% Non-Cumulative Preferred Stock, Series B (the "Preferred Stock"), with a liquidation preference of $1,000 per share (equivalent to $25 per Depositary Share), or $150 million in aggregate liquidation preference. The offering price per Depositary Share is $25, for aggregate gross proceeds of $150 million. The Company has granted the underwriters a 30-day option, expiring on April 23, 2015, to purchase up to an additional 900,000 Depositary Shares from the Company on the same terms and conditions.

National General Holdings is a personal lines insurance holding company. Through its subsidiaries, Co. provides a range of insurance products, including personal and commercial automobile, homeowners, umbrella, recreational vehicle, motorcycle, lender-placed, supplemental health, and niche insurance products. Co. has two segments: Property and Casualty, which sells nonstandard automobile insurance, provides standard and preferred auto, motorcycle, commercial vehicle, homeowners and umbrella products, and underwrites and markets standard and preferred auto and recreational vehicle insurance; and Accident and Health, which provides accident and non-major medical health insurance products.

Preferred: NGHCP

Open the NGHC Page at Ru Back Packer »

Name: National General Holdings Corp
Sector: Insurance Brokers
Number of ETFs Holding NGHC: 26 (see which ones)
Total Market Value Held by ETFs: $40,627,690
Total Market Capitalization: $2,191,000,000
% of Market Cap. Held by ETFs: 1.85%

Open the NGHC Page at Ru Back Packer (in a new window) »

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