San Francisco-based U.S.I. Holdings Corporation announced the pricing of its initial public offering of 9.0 million shares of common stock at $10.00 per share. USI’s common stock was expected to begin trading Oct. 22 on NASDAQ National Market under the symbol “USIH”. USI has granted the underwriters an option to purchase up to an additional 1.35 million shares to cover any over-allotments.
USI intends to use the net proceeds of the offering for the repayment of indebtedness under its existing credit facility.
The offering was led by Merrill Lynch & Co. and J.P. Morgan Securities Inc. Credit Suisse First Boston Corporation acted as a co-manager along with Credit Lyonnais Securities (USA) Inc. and Fox-Pitt, Kelton, Inc. The offering is expected to close on Oct. 25, 2002.
Topics USA
Was this article valuable?
Here are more articles you may enjoy.
Q4 Global Commercial Insurance Rates Drop 4%, in 6th Quarterly Decline: Marsh 
Maine Plane Crash Victims Worked for Luxury Travel Startup Led by Texas Lawyer 
Allstate Doubles Q4 Net Income While Auto Underwriting Income Triples 
Trump Demands $1 Billion From Harvard as Prolonged Standoff Appears to Deepen 
