Delphi Financial Prices Public Offering of Common Stock
August 18 2009 - 9:09AM
Business Wire
Delphi Financial Group, Inc. (NYSE: DFG) announced today that it
has priced its previously announced public offering of 3,000,000
shares of its Class A common stock at $21.00 per share to the
public. Delphi has granted the underwriter a 30-day option to
purchase up to 450,000 additional shares of Class A common stock
from Delphi if the underwriter sells more than 3,000,000 shares of
Delphi’s Class A common stock in the offering. The offering is
expected to settle and close on August 21, 2009, subject to
customary closing conditions. Net proceeds from the offering are
expected to be used for general corporate purposes.
Barclays Capital Inc. is the sole book-running manager of the
offering. The offering will be made only by means of a final
prospectus supplement and accompanying base prospectus, copies of
which may be obtained from: Barclays Capital Inc., c/o Broadridge,
Integrated Distribution Services, 1155 Long Island Avenue,
Edgewood, New York 11717; Barclaysprospectus@broadridge.com (phone:
888-603-5847). A copy of the final prospectus supplement and
accompanying base prospectus may also be obtained at no charge at
the Securities and Exchange Commission's website, at
www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the shares of Class A common stock
or any other securities, nor will there be any sale of the shares
of Class A common stock in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
In connection with, and because it desires to take advantage of,
the “safe harbor” provisions of the Private Securities Litigation
Reform Act of 1995, Delphi cautions readers regarding certain
forward-looking statements in the foregoing discussion and in any
other statements made by, or on behalf of, Delphi, whether in
future filings with the Securities and Exchange Commission or
otherwise. Forward-looking statements are statements not based on
historical information and which relate to future operations,
strategies, financial results, prospects, outlooks or other
developments. Some forward-looking statements may be identified by
the use of terms such as “expects,” “believes,” “anticipates,”
“intends,” “judgment,” “outlook” or other similar expressions.
Forward-looking statements are necessarily based upon estimates and
assumptions that are inherently subject to significant business,
economic, competitive and other uncertainties and contingencies,
many of which are beyond Delphi’s control and many of which, with
respect to future business decisions, are subject to change.
Examples of such uncertainties and contingencies include, among
other important factors, those affecting the insurance industry
generally, such as the economic and interest rate environment,
federal and state legislative and regulatory developments,
including but not limited to changes in financial services,
employee benefit and tax laws and regulations, changes in
accounting rules or interpretation, market pricing and competitive
trends relating to insurance products and services, acts of
terrorism or war, and the availability and cost of reinsurance, and
those relating specifically to Delphi’s business, such as the level
of its insurance premiums and fee income, the claims experience,
persistency and other factors affecting the profitability of its
insurance products, the performance of its investment portfolio and
changes in Delphi’s investment strategy, acquisitions of companies
or blocks of business, and ratings by major rating organizations of
Delphi and its insurance subsidiaries. These uncertainties and
contingencies can affect actual results and could cause actual
results to differ materially from those expressed in any
forward-looking statements made by, or on behalf of, Delphi.
Forward-looking statements contained in the foregoing discussion
are made as of the date of this press release and Delphi disclaims
any obligation to update these or any other forward-looking
statements.
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