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James River Group secondary offering closes

James River Group Holdings Ltd. announced the closing of the underwritten secondary public offering of its 3,297,238 common shares.

The selling shareholders sold the shares for total net proceeds of about $118.7 million. All of the proceeds went to the shareholders. James River did not sell any share in the offering.

The shares were sold pursuant to an underwriting agreement that the selling shareholders entered into with James River and Morgan Stanley & Co. LLC, as sole underwriter. The selling shareholders were D. E. Shaw CF-SP Franklin LLC, D. E. Shaw CH-SP Franklin LLC and D. E. Shaw Oculus Portfolios LLC.