NMI Holdings Inc. has launched an underwritten registered public offering of 3,700,000 of its class A common shares.

The company plans to use the net proceeds of the offering for general corporate purposes, including, but not limited to, making capital contributions to facilitate its subsidiaries' growth. Based on the company's Feb. 26 closing share price of $21.70, S&P Global Market Intelligence calculates a gross offering size of $80.3 million.

The company plans to offer the underwriters a 30-day option to purchase up to an additional 15% of the company's class A common shares.

J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and RBC Capital Markets LLC are acting as joint book-running managers, while SunTrust Robinson Humphrey Inc. is acting as lead manager. Dowling & Partners Securities LLC, Keefe Bruyette & Woods Inc. and Zelman Partners LLC are acting as co-managers.

NMI Holdings also filed a shelf registration for the sale of a number of securities, including common shares; preferred stock; depositary shares; warrants to purchase common stock, preferred stock or other securities; rights to purchase common stock, preferred stock or other securities; stock purchase contracts; and units consisting of two or more classes of the securities.

The company expects to use the net proceeds of any sale of securities for any combination of the repayment of outstanding debts, working capital, capital expenditures, acquisitions, capital support for its subsidiaries and general business purposes.