RenaissanceRe prices $192/share offering of 6.3M common shares to fund Validus acquisition

RENAISSANCERE HOLDINGS LTD

Priced 6,300,000 common shares at $192.00 per share; overallotment of 945,000 shares exercised in full.
Total shares sold: 7,245,000, gross proceeds approximately $1.39 billion.
Net proceeds to fund part of cash consideration for previously announced Validus acquisition and related expenses.
Offering closed May 26, 2023; Morgan Stanley and Goldman Sachs acted as bookrunners.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RENAISSANCERE HOLDINGS LTD entered into Underwriting Agreement with Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC (effective 2023-05-23).

Action: entry
Agreement: underwriting
Counterparty: Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC
Effective: 2023-05-23

Exact text from the filing

On May 23, 2023, RenaissanceRe Holdings Ltd. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC, acting on their own behalf and as representatives of the several underwriters named in Schedule I thereto.

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RENAISSANCERE HOLDINGS LTD filing history →

Source: SEC EDGAR

accession 0001193125-23-155520

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