Arch Capital Group Ltd. closed an underwritten public secondary offering of 5,674,200 common shares by selling shareholders affiliated with American International Group Inc.
About $502.5 million was raised based on a public offering price of $88.55 per common share.
The selling shareholders will receive the proceeds from the sale of the common shares. Arch Capital will not receive any proceeds from the offering.
The offering was led by Barclays and Deutsche Bank Securities Inc. as joint book-running managers.
