Proceeds used for working capital and other general corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 14 - NMI Holdings, Inc. said the underwriters for its initial public offering of stock opted to exercise the deal's $4.1 million greenshoe in full for total proceeds of $31.4 million. The deal was announced Oct. 9 and priced for $27.3 million with the greenshoe on Nov. 7.
The company sold 2,415,000 class A common shares at $13.00 apiece. Of the shares, 315,000 were part of the fully exercised greenshoe.
FBR Capital Markets & Co. was the sole bookrunning manager.
Proceeds will be used for working capital and other general corporate purposes.
The Emeryville, Calif., company provides private mortgage insurance.
| Issuer: | NMI Holdings, Inc.
|
| Issue: | Class A common stock
|
| Amount: | $31,395,000 (including $4,095,000 greenshoe)
|
| Shares: | 2,415,000
|
| Price: | $13.00
|
| Warrants: | No
|
| Bookrunner: | FBR Capital Markets & Co.
|
| Co-manager: | Compass Point Research & Trading, LLC
|
| Announcement date: | Oct. 9
|
| Pricing date: | Nov. 7
|
| Settlement date: | Nov. 14
|
| Stock exchange: | Nasdaq: NMIH
|
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