Arch Capital Group Ltd. Announces Plan for Public Offering.Business Editors HAMILTON, Bermuda--(BUSINESS WIRE)--March 12, 2004 Arch Capital Group Ltd. (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 : ACGL ACGL Arch Capital Group Ltd. ACGL Automobile Corporation of Goa Limited ACGL Alternative County Government Law ) announced today that it plans to commence the marketing for a public offering of 7,285,000 of its common shares. Of the 7,285,000 common shares to be offered, 4,425,000 common shares are to be offered by the Company and up to an additional 2,860,000 common shares are to be offered by the selling shareholders. These numbers do not include the 1,092,750 common shares subject to the underwriters' over-allotment option, which will be made available to the underwriters by the Company and the selling shareholders pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. . Arch Capital Group expects to use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from its sale of common shares for general corporate purposes, including contributions to the capital of its wholly owned insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. subsidiaries to support their underwriting activities. The Company will not receive any of the net proceeds from the sale of the common shares by the selling shareholders. The offering will be led by Merrill Lynch & Co. and 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. as joint book-running managers. Goldman, Sachs & Co., Banc of America Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , JPMorgan and Fox-Pitt, Kelton will be co-managers for the offering. Arch Capital Group Ltd., a Bermuda-based company with over $1.9 billion in capital, provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries. This press 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 the offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. A registration statement relating to the common shares that the Company and the selling shareholders plan to sell has previously been filed with, and declared effective by the Securities and Exchange Commission. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. When available, copies of the prospectus relating to this offering may be obtained from Merrill Lynch & Co., 4 World Financial Center, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10080 and Credit Suisse First Boston LLC, Prospectus Department, One Madison Avenue, New York, NY 10010. Cautionary Note Regarding Forward-Looking Statements The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor" for forward-looking statements. This release or any other written or oral statements made by or on behalf of Arch Capital Group Ltd. and its subsidiaries (collectively, the "Company") may include forward-looking statements which reflect the Company's current views with respect to future events and financial performance. Forward-looking statements involve the Company's current assessment of risks and uncertainties, which may cause actual events and results and prospects to differ materially from those expressed or implied in these statements. Certain information regarding such risks and uncertainties is set forth in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. |
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