Kingsway Financial subsidiary to repurchase $75.5M principal of trust preferred debt by March 15

KINGSWAY FINANCIAL SERVICES INC

KAI will repurchase all Series 1-5 TruPs for $56.5M total payment, including a $2.3M credit.
Repurchase covers $75.5M principal and $21.2M deferred interest (as of Dec 31, 2022).
KAI will pay estimated $4.7M deferred interest on remaining trust preferred not subject to repurchase.
After repurchase, KAI will have $15M principal outstanding on remaining trust preferred.
KAI intends to use working capital to fund the repurchases.

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