NMI Holdings, Inc. Announces Proposed Public Offering of Common Stock

About this update from Nmi Holdings Inc

[{"type":"text","content":"EMERYVILLE, Calif., June 03, 2020 (GLOBE NEWSWIRE) -- NMI Holdings, Inc. (Nasdaq:NMIH) (the “Company”) today announced it has commenced an underwritten registered public offering of 10 million shares of its Class A common stock, par value $0.01 per share (the “offering”). The Company intends to use the net proceeds of the offering for general corporate purposes, including potential capital contributions to support the growth of new business production and operations of its subsidiaries.\n J.P. Morgan and Goldman Sachs & Co. are acting as joint book-running managers of, and as representatives of the underwriters for, the offering. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of shares of the Company’s Class A common stock. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The shares are being offered pursuant to an automatically effective shelf registration statement (including a base prospectus) that has been filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 26, 2018, and is available on the SEC website. The offering will be made only by means of a preliminary prospectus supplement and the accompanying base prospectus relating to and describing the terms of the offering, which will be filed with the SEC and thereafter available on the SEC website. Prospective investors should read the registration statement (including the base prospectus), the preliminary prospectus supplement, the final prospectus supplement (when available) and the other documents the Company has filed with the SEC for more complete information about the Company and the offering. Investors may obtain these documents without charge by visiting the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the accompanying base pros...

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