HAMILTON, Bermuda, Nov. 14, 2017 /PRNewswire/ -- Third Point
Reinsurance Ltd. (NYSE: TPRE) ("TPRE" or the "Company") today
announced the pricing of the previously announced underwritten
secondary public offering of an aggregate of 15,000,000 of the
Company's common shares (representing approximately 14.0% of its
issued and outstanding shares) by KIA TP Holdings, L.P. and KEP TP
Holdings, L.P. (collectively, the "Selling Shareholders") to J.P.
Morgan Securities LLC, as sole underwriter. J.P. Morgan Securities
LLC intends to offer for sale the shares of common shares at a
price to the public of $15.75 per
share. The offering is expected to close on November 16, 2017. J.P. Morgan Securities LLC has
the option to buy an additional 2,250,000 shares from the
Selling Shareholders for 30 days after the offering. The Company
will not receive any proceeds from the sale of shares being sold in
this offering.
The underwriter proposes to offer the common shares for sale
from time to time in one or more transactions on the New York Stock
Exchange, in the over-the-counter market, through negotiated
transactions or otherwise at market prices prevailing at the time
of sale, at prices related to prevailing market prices or at
negotiated prices, subject to receipt and acceptance by the
underwriter and subject to its right to reject any order in whole
or in part.
The Company has filed a registration statement, including a
prospectus, with the U.S. Securities and Exchange Commission (the
"SEC") for the offering to which this communication relates, which
registration statement became effective upon filing with the SEC.
Before you invest, you should read the prospectus in that
registration statement, and other documents the Company has filed
or will file with the SEC, including any prospectus supplement, for
more complete information about the Company and this offering. You
may get these documents for free by visiting EDGAR on the SEC's
website at www.sec.gov. Alternatively, copies of the prospectus and
any prospectus supplement may be obtained from J.P. Morgan,
Attention: Prospectus Department, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling
866-803-9204.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, 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.
Forward‐Looking Statements
This press release contains certain statements that may
constitute "forward-looking" statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), and as defined in the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include, without limitation, statements regarding our industry,
business strategy, plans, goals and expectations concerning our
market position, international expansion, future operations,
margins, profitability, future efficiencies, capital expenditures,
liquidity and capital resources and other financial and operating
information. When used in this prospectus and the documents
incorporated herein by reference, the words "may," "believes,"
"intends," "seeks," "anticipates," "plans," "estimates," "expects,"
"should," "assumes," "continues," "could," "will," "future" and the
negative of these or similar terms and phrases are intended to
identify forward-looking statements in this press release. The
Company has made every reasonable effort to ensure that the
information, estimates, forecasts and assumptions on which these
statements are based are current, reasonable and complete. However,
these forward‐looking statements are subject to a number of risks
and uncertainties that may cause the Company's actual performance
to differ materially from that projected in such statements. See
the "Risk Factors" in the Company's Annual Report on Form 10‐K for
the year ended December 31, 2016, and
other reports the Company files with the SEC, (including its
Quarterly Reports on Form 10-Q) which identify important factors,
though not necessarily all such factors, that could cause future
outcomes to differ materially from those set forth in the
forward‐looking statements. TPRE expressly disclaims any obligation
to release publicly any updates or revisions to these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
About the Company
The Company is a public company listed on the New York Stock
Exchange which, through its wholly-owned subsidiaries Third Point
Reinsurance Company Ltd. and Third Point Reinsurance (USA) Ltd., writes property and casualty
reinsurance business. Third Point Reinsurance Company Ltd.
and Third Point Reinsurance (USA)
Ltd. each have an "A-" (Excellent) financial strength rating from
A.M. Best Company, Inc.
Contact:
Third Point Reinsurance Ltd.
Manoj Gupta
Head of Investor Relations and Business Development
+1 441-542-3333
investorrelations@thirdpointre.bm
View original
content:http://www.prnewswire.com/news-releases/third-point-reinsurance-ltd-announces-pricing-of-offering-of-15000000-common-shares-by-selling-shareholders-300555623.html
SOURCE Third Point Reinsurance Ltd.