CHICAGO - Amerin Corp. announced that it has filed a registration statement with the Securities and Exchange Commission for the initial public offering of about 11 million shares of common stock.
All of the shares are being offered by the company.
Application will be made to trade the common stock on the Nasdaq national market under the symbol AMRN.
Net proceeds of the offering will be used to retire all of the company's 13.5% convertible preferred stock; to make additional capital contributions to the company's two subsidiaries, Amerin Guaranty Corp. and Amerin Re Corp.; to support the growth of its insurance businesses; and for general corporate purposes.
Morgan Stanley & Co., CS First Boston Corp., Donaldson, Lufkin & Jenrette Securities Corp., and J.P. Morgan Securities Inc. have been named as representatives of the United States underwriters in connection with the offering in the United States and Canada.
Morgan Stanley & Co. International Ltd.; CS First Boston Ltd., Donaldson, Lufkin & Jenrette Securities Corp.; and J.P. Morgan Securities Ltd. have been named as representatives of the underwriters outside the United States and Canada.
Amerin provides private mortgage insurance, both borrower paid and lender paid, to mortgage originators.
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GLEN ALLEN, Va. - Resource Mortgage Capital Inc. announced that it has filed a prospectus supplement with the Securities and Exchange Commission for the public offering of 2.1 million shares of the company's Series B cumulative convertible preferred stock.
Thomas H. Potts, president, said, "This offering will enable the company to strengthen its balance sheet and capital structure, and provide funds for growing our mortgage operations and investment portfolio."
The offering will be comanaged by Stifel, Nicolaus & Co., Robert W. Baird & Co., Scott & Stringfellow Inc., and Stephens Inc.