Assured Guaranty Ltd. Closes Initial Public Offering; Will Issue Its First Quarter Earnings on Tuesday, May 11, 2004.Business Editors HAMILTON, Bermuda--(BUSINESS WIRE)--April 29, 2004 Assured Guaranty Ltd. (NYSE NYSE See: New York Stock Exchange :AGO) announced that the initial public offering of 49,000,000 of its common shares, at $18.00 per share, was completed yesterday, April 28, 2004. An additional 7,350,000 common shares may be sold depending upon the exercise of an over-allotment option granted to underwriters. All of the shares were sold by ACE Limited subsidiaries, which will receive 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). . As a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. , Assured Guaranty will issue its first quarter earnings and financial supplement before 7:00 a.m. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT (8:00 a.m. ADT (Asynchronous Data Transfer) A transmission technique used in ISDN PBXs that dynamically allocates bandwidth. See also abstract data type. ADT - abstract data type ) on Tuesday, May 11, 2004. These documents will be available in the Investor Information section of the Company's website located at www.assuredguaranty.com. The Company will host a conference call for investors at 8:30 a.m. EDT (9:30 a.m. ADT) on Tuesday, May 11, 2004. The conference call will be available via live and archived webcast at www.assuredguaranty.com or by dialing 1-800-901-5217 (in the United States) and 1-617-786-2962 (International), passcode 65812948. A replay of the call will be available from May 11, 2004 until May 25, 2004. To listen to the replay dial: 1-888-286-8010 (in the United States) or 1-617-801-6888 (International), passcode 16047630. Assured Guaranty is a Bermuda-based holding company providing credit enhancement Credit Enhancement A method whereby a company attempts to improve its debt or credit worthiness. Notes: Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing products to the municipal finance, structured finance and mortgage markets. More information can be found at www.assuredguaranty.com. |
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