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Kingstone Companies Inc prices upsized public offering


Tuesday, 10 Dec 2013 09:15am EST 

Kingstone Companies Inc:Says the pricing of the underwritten public offering of 3,000,000 shares of its common stock at a price of $5.95 per share, for a total of $17,850,000.Says in addition, the company has granted to Sandler O`Neill + Partners, L.P., the underwriter of the offering, a 30-day option to purchase up to an additional 450,000 shares to cover over-allotments, if any.Intends to use the net proceeds of the offering to contribute capital to its insurance subsidiary, Kingstone Insurance company, to support growth, including possible product expansion; to repay indebtedness; and for general corporate purposes, which may include acquisitions. 

Company Quote

8.04
0.11 +1.39%
18 Dec 2014