Pennsylvania’s Donegal Group Inc. announced that it has filed a registration statement with the Securities and Exchange Commission relating to its proposed offering of up to 3,450,000 shares of Class A common stock.
“The exact terms of the offering, which will be made only by a prospectus, have not yet been disclosed,” said the bulletin. “The book-running manager of the offering is SunTrust Robinson Humphrey and the co-lead manager is Legg Mason Wood Walker, Inc. The co-managers of the offering are Advest, Inc. and Cochran, Caronia & Co.
“The proceeds of the offering will be used to fund previously announced acquisitions, to increase the capital of Donegal Group Inc.’s insurance subsidiaries and for general corporate purposes.”
The company recently announced that it was acquiring all of the capital stock of the Maryland-based Peninsula Insurance Group from Folksamerica Reinsurance Company. (See IJ Website Oct. 31)
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