FedNat Holding Company Launches Proposed Public Offering of Common Stock
March 05 2021 - 7:00AM
FedNat Holding Company (Nasdaq: FNHC), a regional insurance holding
company, announced today that it is commencing a proposed
underwritten public offering of its shares of common stock. All of
the shares will be offered by the Company. The Company also expects
to grant the underwriter a 30-day option to purchase additional
shares of common stock in an amount of up to 15% of the number of
shares sold in the offering. The offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
Piper Sandler & Co. is acting as sole bookrunner for the
proposed offering.
A shelf registration statement on Form S-3 relating to the
securities being sold in this offering was declared effective by
the Securities and Exchange Commission (the “SEC”) on June 26,
2018. Before you invest, you should read the prospectus in the
registration statement and related preliminary prospectus
supplement that the Company filed with the SEC for more complete
information about the Company and this offering. An electronic copy
of the preliminary prospectus supplement and accompanying
prospectus relating to the offering are available on the SEC’s
website at www.sec.gov. Alternatively, the underwriter will
arrange to send you the prospectus and prospectus supplement if you
request it by calling toll free at 866-805-4128.
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.
About the Company
FedNat Holding Company is a regional insurance holding company
that controls substantially all aspects of the insurance
underwriting, distribution and claims processes through our
subsidiaries and contractual relationships with independent agents
and general agents. The Company, through its wholly owned
subsidiaries FedNat Insurance Company, Maison Insurance Company,
and Monarch National Insurance Company, is focused on providing
homeowners insurance in Florida, Texas, Louisiana, Alabama, South
Carolina and Mississippi. More information is available at
https://www.fednat.com/investor-relations/.
Forward-Looking Statements
Except for historical information contained herein, this press
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, but are not limited to,
statements about the Company’s expectations regarding the
completion, terms, size, and timing of the public offering, and
with respect to granting the underwriters a 30-day option to
purchase additional shares. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements. These statements are based on management’s current
expectations and beliefs and are subject to a number of risks,
uncertainties and assumptions that could cause actual results to
differ materially from those described in the forward-looking
statements, including risks and uncertainties related to completion
of the public offering on the anticipated terms or at all, market
conditions and the satisfaction of customary closing conditions
related to the public offering, and those factors described in the
“Risk Factors” section of the Company’s Annual Report on Form 10-K
for the year ended December 31, 2019, and the Company’s Quarterly
Reports on Form 10-Q for the quarterly periods ended March 31,
2020, June 30, 2020, and September 30, 2020, all of which have been
filed with the Securities and Exchange Commission.
Contacts
Michael H. Braun, CEO (954) 308-1322
Ronald Jordan, CFO (954) 308-1363
Bernard Kilkelly, Investor Relations (954) 308-1409,
or investorrelations@fednat.com
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