Certain shareholders of James River Group Holdings Ltd. plan to sell 3,297,238 of the company's common shares.
The selling shareholders will receive all of the net proceeds from the planned underwritten public offering. James River is not selling any shares in the offering.
Based on a May 10 closing share price of $38.28, S&P Global Market Intelligence calculates a gross offering size of about $126.2 million.
Morgan Stanley & Co. LLC is acting as sole underwriter for the offering.