James River Group Closes Underwritten Public Offering of Common Shares

May 11, 2021

Willkie represented representatives of the several underwriters on the transaction.

On May 10, James River Group Holdings, Ltd. announced the closing of an underwritten public offering of the company’s common shares by certain of the company’s significant shareholders. The company issued 6,497,500 common shares for total net proceeds of $201,422,500. The company received all of the net proceeds from the offering. Willkie represented representatives of the several underwriters on the transaction.

James River Group Holdings, Ltd., headquartered in Bermuda, is a specialty insurer backed by D.E. Shaw & Co. James River provides insurance and reinsurance for small- and medium-sized businesses in the specialty insurance markets, generating a majority of its revenue from excess and surplus lines, or coverage that is not licensed by a state. The offering was composed entirely of common shares issued by the company.

The deal was led by Michael Groll and Jeffrey Hochman, and included associates Amanda Burke, Michael Manopla and Eric Quang. Counsel Martin Miller provided assistance on FINRA matters and partner Arthur Lynch advised on tax matters.