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Homeowners Choice Announces Follow-on Public Offering Of 1.60 Mln Shares

Homeowners Choice, Inc. (HCII), a Florida-based insurance holding company, announced a follow-on public offering of 1.60 million shares of common stock. All shares are being offered by Homeowners Choice. Homeowners Choice said that it intends to use the net proceeds from this offering for working capital and general corporate purposes.

Houlihan Lokey Capital, Inc. and Sidoti & Co. LLC are acting as joint book-running managers for the offering. Knight Capital Americas, L.P. is acting as co-manager. The underwriters will have an option to purchase up to an additional 240,000 shares of common stock from the Company.

by RTTNews Staff Writer

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