American Life Group files for initial public offering of common stock.CARMEL, Ind.--(BUSINESS WIRE)--Aug. 10, 1995--Conseco, Inc. (NYSE NYSE See: New York Stock Exchange : CNC (Computerized Numerical Control) See numerical control. CNC - Collaborative Networked Communication ) and American Life Group, Inc. (American Life Group) today announced that American Life Group has filed a registration statement with the Securities and Exchange Commission with respect to a proposed initial public offering of 15,000,000 shares of common stock. The offering includes 5,900,000 shares to be sold by American Life Group and 9,100,000 shares to be sold by the current stockholders of American Life Group, including Conseco Capital Partners II, L.P., a Delaware limited partnership formed by Conseco in 1994. The selling stockholders will grant the underwriters an option to purchase up to 2,199,218 additional shares representing their remaining interest in American Life Group to cover over-allotments, if any. American Life Group is the holding company for American Life and Casualty Insurance Company (American Life). American Life, based in Des Moines, Iowa “Des Moines” redirects here. For other uses, see Des Moines (disambiguation). Des Moines (pronounced /dɪˈmɔɪn/ in English, , and licensed in 47 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , markets primarily individual fixed annuity Fixed Annuity An insurance contract in which the insurance company makes fixed dollar payments to the annuitant for the term of the contract, usually until the annuitant dies. The insurance company guarantees both earnings and principal. products and, to a lesser extent, life insurance through a general agency and insurance brokerage distribution system. Proceeds from the sale of shares by American Life Group will be used to redeem all of its 1994 Series Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. and to reduce debt. American Life Group will not receive any of the proceeds from the sale of shares by the selling stockholders. The planned offering, which will be made only by means of a prospectus, is structured as a dual tranche with 12,000,000 shares to be offered in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada and 3,000,000 shares to be offered outside the United States and Canada. Merrill Lynch & Co., Dean Witter Reynolds Dean Witter Reynolds was an American stock brokerage catering to the middle class. In 1997, it merged with the Morgan Stanley Group to form Morgan Stanley Dean Witter. The amalgamated firm is now known as Morgan Stanley. Inc., Salomon Brothers Inc and Ladenburg, Thalmann & Co. Inc. will manage the U.S. offering. Merrill Lynch International Limited, Dean Witter International Ltd., Salomon Brothers International Limited and Ladenburg, Thalmann & Co. Inc. will manage the international offering. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement has become effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the prospectus, when available, may be obtained from the managers of the offering. CONTACT: Conseco, Inc., Carmel Jim Rosensteele, 317/817-2893 |
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