AmTrust Announces Proposed Private Offering of Convertible Debt
December 15 2011 - 4:35PM
AmTrust Financial Services, Inc. (Nasdaq:AFSI) ("AmTrust") today
announced that it plans to offer, subject to market and other
conditions, its convertible senior notes due 2021 (the "convertible
notes") to qualified institutional buyers pursuant to Rule 144A
under the Securities Act of 1933, as amended (the "Securities
Act"). AmTrust expects to grant the initial purchasers a 30-day
option to purchase additional convertible notes in connection with
the offering.
AmTrust intends to use the net proceeds from the offering for
general corporate purposes, which may include working capital,
repayment of debt, capital expenditures and/or strategic
acquisitions.
The convertible notes and the shares of AmTrust common stock
issuable upon conversion of the convertible notes have not been
registered under the Securities Act or the securities laws of any
state or other jurisdiction and, unless so registered, may not be
offered or sold in the United States except pursuant to an
exemption from the registration requirements of the Securities Act
and applicable securities laws of any relevant state or
jurisdiction.
The AmTrust Financial Services, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3280
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities nor shall there be
any sale of any securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
CONTACT: Elizabeth Malone CFA
(646) 458-7924
beth.malone@amtrustgroup.com
Hilly Gross
(646) 458-7923
hilly.gross@amtrustgroup.com
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