Everest Re Group Prices Public Offering Of 3.60 Mln Shares At $360.00/shr

(RTTNews) - Everest Re Group Ltd. (RE) said it has priced an underwritten public offering of 3.60 million common shares at a price to the public of $360.00 per share, before underwriting discounts and commissions.

The underwriters have the option to purchase up to an aggregate of 540,000 additional common shares from the company. This reflects an upsizing of the previously announced offering of 3 million shares and 450,000 option shares granted to the underwriters. The offering is expected to close on May 19, 2023.

The company plans to use the net proceeds from the offering for general corporate purposes, which may include expanding its existing business lines and operations.