Arch Capital Public Offering Raises $179 Million
Bermuda’s Arch Capital Group Ltd. announced that its offering of 7,475,000 common shares at $25.50 per common share (See IJ Website April 4) resulted in net proceeds of approximately $179 million.
The offering, which closed on Monday, included the exercise in full of the underwriters’ over-allotment option. The company stated that, “the net proceeds of the offering will be used by the company principally to support future growth of its insurance and reinsurance operations.”|”arch, capital, public, offering, raises, $179, million,
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