Florida-based Homeowners Choice Announces Initial Public Offering

Homeowners Choice Inc., based in Clearwater, Florida, announced that it has completed an initial public offering of 1,666,668 units, each consisting of one common share and one warrant, at a price of $7.00 per unit.

Two warrants may be exercised to acquire one common share at an exercise price of $9.10 per share. The units will be listed on The NASDAQ Global Market and will trade under the ticker symbol “HCIIU” beginning July 31. Once the securities comprising the units begin separate trading, the common shares and the warrants will be listed on The NASDAQ Global Market under the ticker symbols “HCII” and “HCIIW.”

Homeowners Choice Inc. is an insurance holding company. Its wholly-owned subsidiary, Homeowners Choice Property & Casualty Insurance Co. Inc., provides property and casualty homeowners’ insurance to Florida property owners.

Source: Homeowners Choice Inc.