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Kemper expects up to $129M gross proceeds from common stock offering

Kemper Corp. anticipates gross proceeds of approximately $112.1 million, or up to approximately $128.9 million if the underwriter fully exercises its overallotment option, from its underwritten public offering of 1,350,000 common shares.

Credit Suisse, the sole underwriter for the offering, was granted an option to purchase up to 202,500 additional common shares. The offering is expected to close June 7.

Kemper intends to use the net proceeds to redeem all $150.0 million of its 7.375% subordinated debentures due 2054.