HCI Group redeems remaining $24M convertible notes; expects conversion to equity by March 15

HCI Group, Inc.

Redeemed remaining $24M principal of 4.25% Convertible Senior Notes due 2037; redemption date March 15, 2024.
Conversion rate set at 16.5893 common shares per $1,000 principal; no impact on diluted share count expected.
CEO says move simplifies balance sheet and reduces debt-to-capital ratio; company maintains significant liquidity.
Notes became convertible due to share price trigger; conversion expected from all holders.

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