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HCI Group Inc Proposes $100 million offering of convertible senior notes due 2019


Thursday, 5 Dec 2013 07:55am EST 

HCI Group Inc:Says it intends to offer $100 million aggregate principal amount of convertible senior notes due 2019 in a private placement to qualified, institutional buyers.HCI also expects to grant the initial purchasers of the notes an option to purchase up to an additional $15 million aggregate principal amount of the notes.HCI intends to use up to $30 million of the net proceeds from the offering of the notes to repurchase shares of its common stock pursuant to the terms of a prepaid forward transaction entered into in connection with the offering of the notes.The remaining proceeds from the offering for general corporate purposes including, but not limited to, working capital. 

Company Quote

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24 Apr 2014