Certain James River Group Holdings Ltd. shareholders plan to offer an aggregate of 4,250,000 common shares in an underwritten public offering.
The selling shareholders will receive all of the offering's net proceeds. The company is not selling any shares.
Based on James River Group's May 30 closing share price of $42.04, S&P Global Market Intelligence estimates an offering size of about $178.7 million.
Morgan Stanley, which is the offering's sole underwriter, proposes to occasionally offer the common shares for sale in one or more transactions on the Nasdaq Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise.