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TPG Global prices sale of remaining shares in Assurant

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TPG Global prices sale of remaining shares in Assurant

An underwritten secondary public offering of all of the remaining 7,869,230 common shares of Assurant Inc. held by certain affiliates of TPG Global LLC was priced at $98.70 apiece, for approximate gross proceeds of $776.7 million.

The offering is expected to close March 21. These shares were originally part of the 10,069,230 shares issued to certain affiliates of TPG Global for the purchase of The Warranty Group Inc. in May 2018.

Assurant will not sell any shares and will not receive any proceeds from the offering, for which Goldman Sachs & Co. LLC is serving as underwriter.