TAMPA, Fla., April 20, 2012 (GLOBE NEWSWIRE) -- Homeowners Choice, Inc. (Nasdaq:HCII), a Florida-based insurance holding company, today announced the pricing of a follow-on public offering of 1,600,000 shares of common stock at a price of $11.75 per share. All shares are being offered by Homeowners Choice. Homeowners Choice 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 have an option to purchase up to an additional 240,000 shares of common stock from the Company.
The common stock was offered pursuant to a shelf registration statement that was previously filed with and declared effective by the Securities and Exchange Commission. Any offer or sale will be made only by means of a written prospectus forming part of the effective registration statement. Copies of the final prospectus supplement relating to the offering may be obtained from:
|Houlihan Lokey||Sidoti & Co. LLC|
|Prospectus Department||Prospectus Department|
|245 Park Avenue, 20th Floor||317 Madison Avenue, Suite 1410|
|New York, NY 10167||New York, NY 10017|
|Telephone: (800) 848-2058||Telephone: (212) 542-4000|
|E-mail: firstname.lastname@example.org||E-mail: email@example.com|
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Homeowners Choice
Homeowners Choice, Inc. is a Florida-based insurance holding company headquartered in Tampa. Through its subsidiary corporations, Homeowners Choice provides property and casualty insurance to homeowners, condominium owners and tenants. Founded in 2006, Homeowners Choice serves approximately 118,000 policyholders throughout Florida representing approximately $224 million in annualized premiums. The Company's common shares trade on the NASDAQ Global Select Market under the ticker symbol HCII and are included in the Russell Microcap Index. Its warrants trade on the NASDAQ Global Market under the ticker symbol HCIIW. Its Series A Cumulative Redeemable Preferred shares trade on the NASDAQ Capital Market under the ticker symbol HCIIP.
The Homeowners Choice, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6712
CONTACT: Media Contact: Suzie Boland RFB Communications Group (813) 259-0345 firstname.lastname@example.org Investor Relations Contact: Jay Madhu Homeowners Choice, Inc. (813) 405-3660 email@example.com