Superior National to sell notes, warrants.Superior National Group Inc. recently announced that it has entered into a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. to sell $10 million of its senior subordinated notes and stock warrants to International Insurance Investors (III). The deal, signed Dec. 2 and expected to be finalized See finalization. by year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. , will contribute to the capital base of Superior National's workers compensation subsidiary, Superior National Insurance Co., for future growth. The deal's terms have not been specified but will be long term, said Craig Craig , Edward Gordon 1872-1966. British theatrical producer, director, and designer whose innovative productions and simplified stage designs influenced modern theater. Squire, the company's treasurer. Members of Calabasas-based Superior National's management will also participate in the purchase and will acquire a yet-to-be-determined amount of notes and warrants, the press release stated. "Participation by Superior's management in the transaction will align align (  līn),v to move the teeth into their proper positions to conform to the line of occlusion. the interests of shareholders, policyholders and management which should be the principle objective of all parties," said Robert Spass, president of International Insurance Advisors Inc., which acted as adviser to III and signed the memorandum with Superior National. |
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