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Kingsway Financial Services Inc Announces Terms Of Proposed Rights Offering


Thursday, 30 May 2013 06:08am EDT 

Kingsway Financial Services Inc announced that it has filed a registration statement for a proposed rights offering relating to transferable subscription rights to purchase up to approximately $13.1 million of shares of common stock and warrants to purchase Common Shares. Under the proposed rights offering, each shareholder of record as of the record date will receive, at no charge, one subscription right for each Common Share owned on the record date (the Subscription Right). Four Subscription Rights will entitle the holder to purchase one unit consisting of one Common Share, one Series A Warrant and one Series B Warrant (a Unit). Each warrant entitles the holder to purchase one Common Share. The subscription price is $4.00 per Unit. Holders who fully exercise their Subscription Rights will be entitled to subscribe for an additional amount of Units, if any, that are not purchased by other shareholders or their transferees through the exercise of their basic subscription privileges, in an amount equal to up to five Units for each Unit for which such holder was otherwise entitled to subscribe. Kingsway reserves the right to cancel or terminate the proposed rights offering at any time prior to the expiration date and for any reason. 

Company Quote

5.84
0.01 +0.17%
4:04pm EDT