EMERYVILLE, Calif., Feb. 26, 2018 – NMI Holdings, Inc. (Nasdaq:NMIH) (the “Company”) today announced it has commenced an underwritten registered public offering of 3,700,000 shares of its Class A common stock, par value $0.01 per share. The Company intends to use the net proceeds of the offering for general corporate purposes, including, but not limited to, making capital contributions to support the growth of its subsidiaries.
J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and RBC Capital Markets, LLC are acting as joint book-running managers. SunTrust Robinson Humphrey, Inc. is acting as lead manager. Dowling & Partners Securities, LLC, Keefe, Bruyette & Woods, Inc. and Zelman Partners LLC are acting as co-managers. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of the Company’s Class A common stock sold in the proposed offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The shares are being offered pursuant to an automatically effective shelf registration statement (including a base prospectus) that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC website at www.sec.gov.
The offering is being made only by means of a prospectus supplement and accompanying base prospectus, copies of which may be obtained from: J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Deutsche Bank Securities Inc. at 60 Wall Street, New York, New York, and RBC Capital Markets, LLC, Attn: Equity Syndicate, 200 Vesey Street, New York, NY 10281.
About NMI Holdings
NMI Holdings, Inc. (NASDAQ:NMIH) is the parent company of National Mortgage Insurance Corporation (National MI), a U.S.-based, private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower’s default.