Arch Capital Group Ltd. (NASDAQ:ACGL) Files An 8-K Entry into a Material Definitive AgreementITEM 1.01Entry into a Material Definitive Agreement.
On August 14, 2017, Arch Capital Group Ltd. (the “Company”) entered into a Purchase Agreement to which the Company agreed to sell, and the underwriters named therein agreed to purchase, subject to and upon terms and conditions set forth therein, 8,000,000 depositary shares (the Depositary Shares), each of which represents a 1/1,000th interest in a share of its 5.45% Non-Cumulative Preferred Shares, Series F. The public offering price is $25 per Depositary Share for an aggregate public offering price of $200,000,000. The underwriters have an option to purchase from the Company an additional 1,200,000 Depositary Shares at the public offering price, less the underwriting discount, within 30 days to cover over-allotments, if any. The offering was made to an effective shelf registration statement and is expected to close on August 17, 2017. A copy of the Purchase Agreement is attached to this Current Report on Form 8-K as Exhibit 1.01 and is incorporated herein by reference.
ITEM 8.01Other Events.
On August 14, 2017, the Company issued a press release announcing the pricing of its underwritten public offering of the Depositary Shares. A copy of this press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
ITEM 9.01Financial Statements and Exhibits.
See exhibit index.
ARCH CAPITAL GROUP LTD. ExhibitEX-1.01 2 ex101purchagmt.htm EXHIBIT 1.01 PURCH AGMT Exhibit Execution CopyExhibit 1.01ARCH CAPITAL GROUP LTD.(a Bermuda public company limited by shares)8,…To view the full exhibit click here
About Arch Capital Group Ltd. (NASDAQ:ACGL)
Arch Capital Group Ltd. writes insurance and reinsurance on worldwide basis. The Company operates in five segments: insurance, reinsurance, mortgage, other and corporate. The Company’s insurance, reinsurance and mortgage segments are underwriting segments. The insurance segment’s product lines include construction and national accounts; excess and surplus casualty; lenders products; professional lines; programs; property, energy, marine and aviation; travel, accident and health, and other, which includes alternative market risks and excess workers’ compensation. The reinsurance segment’s product lines include casualty; marine and aviation; other specialty; property catastrophe; property excluding property catastrophe, and other, which includes life reinsurance and casualty clash businesses. The mortgage segment includes the results of Arch Mortgage Insurance Company (Arch MI U.S.) and Arch Mortgage Insurance Designated Activity Company (Arch MI Europe).