RICHMOND, Va., Sept. 13, 2021 /PRNewswire/ -- Genworth
Financial, Inc. (NYSE: GNW) (Genworth, the Company) today announced
that its wholly owned subsidiary, Enact Holdings, Inc. (Enact), has
amended its registration statement on Form S-1 with the U.S.
Securities and Exchange Commission (the SEC) in connection with its
proposed initial public offering. In that filing, Enact states the
following regarding the use of proceeds:
As selling stockholder, Genworth
Holdings, Inc. (GHI) will receive all net proceeds from the sale of
shares of Enact's common stock, including from any exercise by the
underwriters of their option to purchase additional shares. GHI
will bear the underwriting discount and pay or reimburse Enact for
certain expenses attributable to the sale of Enact's common stock,
including accounting fees and certain legal fees. GHI currently
intends to use net proceeds to repay its Promissory Note with AXA
and partially repay other outstanding indebtedness.
Copies of the preliminary prospectus may be obtained from:
Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200
West Street, New York, NY 10282,
by email at prospectus-ny@ny.email.gs.com, or by telephone at (866)
471-2526; or J.P. Morgan Securities LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at
prospectus-eq_fi@jpmchase.com, or by telephone at
1-866-803-9204.
A registration statement on Form S-1 relating to these
securities has been filed with the SEC but has not yet become
effective. These securities may not be sold nor may offers to
buy be accepted prior to the time the registration statement
becomes effective.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities 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.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a Fortune 500 insurance
holding company committed to helping families achieve the dream of
homeownership and address the financial challenges of aging through
its leadership positions in mortgage insurance and long term care
insurance. Headquartered in Richmond,
Virginia, Genworth traces its roots back to 1871 and became
a public company in 2004. For more information, visit
genworth.com.
From time to time, Genworth releases important information via
postings on its corporate website. Accordingly, investors and other
interested parties are encouraged to enroll to receive automatic
email alerts and Really Simple Syndication (RSS) feeds regarding
new postings. Enrollment information is found under the "Investors"
section of genworth.com.
Cautionary Note Regarding Forward-Looking Statements
This communication contains certain "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements may
be identified by words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates," "will" or words of
similar meaning & include, but are not limited to, statements
regarding the outlook for future business and financial performance
of Genworth Financial, Inc. (Genworth) and its consolidated
subsidiaries. Examples of forward-looking statements include
statements the company makes relating to a potential minority IPO
of Enact Holdings, Inc. and future reductions of debt.
Forward-looking statements are based on management's current
expectations and assumptions, which are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict. Actual outcomes and results may differ
materially due to global political, economic, business,
competitive, market, regulatory and other factors and risks,
including those discussed at the end of this presentation, as well
as in the risk factor section of Genworth's Annual Report on Form
10-K, filed with the United States Securities and Exchange
Commission (SEC) on February 26,
2021. Genworth undertakes no obligation to publicly update
any forward-looking statement, whether as a result of new
information, future developments or otherwise.
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SOURCE Genworth Financial, Inc.