Delphi Financial Announces Exercise of Underwriter’s Option and Completion of Public Offering
August 24 2009 - 9:00AM
Business Wire
Delphi Financial Group, Inc. (NYSE: DFG) announced today that
Barclays Capital Inc., the underwriter of the Company’s previously
announced registered public offering of 3,000,000 shares of its
Class A common stock, has exercised its option to purchase an
additional 450,000 shares. Delphi also announced that the offering
has closed and that the net proceeds to the Company, taking into
account the underwriter’s option exercise, were approximately $69.9
million, which are expected to be used for general corporate
purposes.
Barclays Capital Inc. was the sole book-running manager of the
offering. The offering was 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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