logo
  

Enact Announces Pricing Of IPO Of 13.31 Mln Shares At $19.00/shr

Enact Holdings Inc. announced the pricing of its initial public offering of 13.31 million shares of common stock at a price to the public of $19.00 per share.

All of the shares are being offered by the selling stockholder, Genworth Holdings, Inc. (GHI), a wholly owned subsidiary of Genworth Financial, Inc., and Enact will not receive any proceeds from the sale of shares by GHI.

The shares are expected to begin trading on the Nasdaq Global Select Market on September 16, 2021 under the ticker symbol "ACT."

The offering is expected to close on September 20, 2021.

GHI has granted the underwriters a 30-day option to purchase up to an additional 1,996,560 shares of Enact common stock from GHI at the initial public offering price, less the underwriting discount.

In addition, certain investment funds managed by Bayview Asset Management, LLC have agreed to purchase 14.66 million shares of Enact's common stock from GHI in a concurrent private sale at a price per share equal to the initial public offering price, less the underwriting discount per share.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Privately-held biotechnology company On Target Laboratories, Inc. announce that the U.S. Food and Drug Administration or FDA, has approved Cytalux (pafolacianine) for adult patients with ovarian cancer as an adjunct for intraoperative identification of malignant lesions. Cytalux is the first targeted fluorescent imaging agent that illuminates ovarian cancer intraoperatively. The Federal Trade Commission or FTC has ordered Walmart, Amazon, Kroger and certain other large wholesalers and suppliers to provide information to help it study causes of supply chain disruptions. The agency has launched an inquiry to find the reasons for empty shelves and exorbitant prices. Along with Walmart, Amazon.com, and Kroger, the order has been sent to C&S Wholesale Grocers, Associated.. Covid vaccine maker Moderna Inc.'s Chief Executive Stéphane Bancel has predicted that existing COVID-19 vaccines will be much less effective against Omicron than earlier strains, according to the Financial Times.
RELATED NEWS
Follow RTT