Amwest Insurance Group Inc. to Study Proposal From Bonds.com Inc.Business Editors CALABASAS, Calif.--(BUSINESS WIRE)--Oct. 11, 2000 Amwest Insurance Group Inc. today announced that it has received and is studying a proposal from Bonds.com Inc. to purchase from Amwest public stockholders their shares of Amwest Insurance Group Inc. common stock for $7.50 per share in cash. Amwest is a Calabasas-based insurance holding company 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. surety An individual who undertakes an obligation to pay a sum of money or to perform some duty or promise for another in the event that person fails to act. surety n. and property and casualty insurance through Amwest Surety Insurance Co., Condor Insurance Co. and Far West Insurance Co. Certain statements contained in this news release regard matters that are not historical facts and are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: Amwest's ability to form a strategic alliance to raise additional capital and to improve the company's financial condition and operational performance, the ability of the company to obtain a waiver The voluntary surrender of a known right; conduct supporting an inference that a particular right has been relinquished. The term waiver is used in many legal contexts. or amendment regarding a covenant included in the company's revolving bank credit agreement, a deterioration de·te·ri·o·ra·tion n. The process or condition of becoming worse. in premiums written or losses incurred in the company's surety and other specialty businesses, the lack of adherence by branch personnel to company underwriting guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. , a reduction in the investment yield earned on the company's investment portfolio, or general economic decline. The company undertakes no obligation to release publicly the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events. |
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