Fairfax Financial Holdings Ltd (FFH.TO, FFH) said it completed public offering of 2.88 million subordinate voting shares at a price of US$347.00 per share, for gross proceeds of US$1.0 billion.
The company has raised net proceeds, after commissions and expenses, of US$983.0 million in the public offering.
Fairfax plans to use the net proceeds of the offering to fund the proposed acquisition of all of the outstanding shares of common stock of Odyssey Re Holdings Corp. that it does not currently own.
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