Bermuda-based AXIS Capital Holdings Limited announced that Thomas H. Lee Partners and related entities (T.H. Lee) have agreed to sell approximately 11.6 million of AXIS Capital’s common shares in a block trade.
The company’s shares, which are listed on the NYSE, have been trading in the $26.00 range, making the sale worth over $300 million.
“Morgan Stanley has agreed to purchase the common shares from T.H. Lee and subsequently sell the shares to public investors,” said the announcement. “The common shares were offered under AXIS Capital’s Form S-3 shelf registration statement and represent the entirety of T.H. Lee’s current ownership of AXIS Capital’s common shares.”
As the selling share holder T.H. Lee will receive all net proceeds from the sale.
Topics Mergers & Acquisitions
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