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News Breaks | | | | August 22, 2012 | | 17:45 EDT |  | MHLD | Maiden Holdings announces pricing of non-cumulative preferred shares
Maiden Holdings announced that it has priced an underwritten public offering of $150 million of its 8.25% Non-Cumulative Preferred Shares, with a liquidation preference of $25 per share. Maiden expects to receive the net proceeds from the sale of the Preferred Shares on August 29. Except in certain limited circumstances, the Preferred Shares are not redeemable prior to August 29, 2017. After that date, the Company may redeem at its option, in whole or in part, the Preferred Shares at a redemption price of $25.00 per share plus unpaid accumulated dividends to the extent declared. Maiden intends to apply to list the Preferred Shares for trading on the New York Stock Exchange under the symbol "MHPRA." | |
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