Amerin Announces Pricing for Secondary Stock Offering.CHICAGO--(BUSINESS WIRE)--Feb. 13, 1997--Amerin Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMRN), the parent company of Amerin Guaranty As a verb, to agree to be responsible for the payment of another's debt or the performance of another's duty, liability, or obligation if that person does not perform as he or she is legally obligated to do; to assume the responsibility of a guarantor; to warrant. , said today that its secondary public offering of its common stock had been priced at $20.50 per share. All of the 3,500,000 shares being offered are owned by the original venture capital investors in the company, including: Aetna Life Insurance Company; Leeway lee·way n. 1. The drift of a ship or an aircraft to leeward of the course being steered. 2. A margin of freedom or variation, as of activity, time, or expenditure; latitude. See Synonyms at room. & Co. (a nominee nominee n. 1) a person or entity who is requested or named to act for another, such as an agent or trustee. 2) a potential successor to another's rights under a contract. for the Long Term Investment Trust, formerly known as the AT&T Master Pension Trust); The Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. Leveraged Equity Fund II, L.P.; First Plaza Group Trust; J.P. Morgan Capital Corporation; and by Gerald L. Friedman, chairman, president and chief executive officer, and Stuart M. Brafman, the company's retired president, and certain of their transferees. The offering represents 29.0% of this group's holdings in the company and 13.4% of the company's 26.1 million outstanding shares. In addition, certain of the selling stockholders have granted options to the U.S. underwriters named below to purchase an aggregate of up to an additional 525,000 shares solely to cover over-allotments, if any. Morgan Stanley & Co. Incorporated, Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. Corporation, Donaldson, Lufkin & Jenrette Securities Corporation and J.P. Morgan & Co. are the representatives of the U.S. underwriters in connection with the offering 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. Morgan Stanley & Co. International Limited, Credit Suisse First Boston (Europe) Limited, Donaldson, Lufkin & Jenrette Securities Corporation and J.P. Morgan Securities Ltd. are the representatives of the international underwriters in connection with a simultaneous offering outside the United States and Canada. The offering is being made only by means of a prospectus, which may be obtained by contacting the underwriters. Amerin provides private mortgage insurance to leading mortgage originators. The company's products are wholesale Lender-Paid Mortgage Insurance and Borrower-Paid Mortgage Insurance. Amerin's approach to sales and underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. reduces the cost of its insurance and offers operating efficiencies to mortgage lenders and their borrowers. Home buyers who make down payments of less than 20% of the value of the home are usually required by the mortgage lender to qualify and pay for mortgage insurance on their mortgage loans. If the homeowner defaults on the loan, mortgage insurance pays the lender or the owner of the loan for its losses up to a specified coverage amount. CONTACT: Principal Communications Bill Campbell, for Amerin Corporation 212/303-7606 |
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