NMI Holdings Inc. has priced its underwritten registered public offering of 3,700,000 class A common shares at $19.75 per share.
The company has granted the underwriters a 30-day option to purchase up to an additional 555,000 class A common shares at the public offering price, less underwriting discounts and commissions.
NMI Holdings expects net proceeds of about $69.4 million from the offering, after deducting underwriting discounts and commissions and before expenses, or about $79.8 million if the underwriters fully exercise their option to buy additional shares.
The offering is expected to close March 2.
J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and RBC Capital Markets LLC are acting as joint book-running managers. 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.
