Radian Announces Underwriters’ Exercise of Option to Purchase Additional Common Stock
PHILADELPHIA--(BUSINESS WIRE)--May 8, 2014--
Radian Group Inc. (NYSE: RDN) announced today that the underwriters of
its recently announced public offering of common stock have exercised in
full their option to purchase an additional 2,325,000 shares of common
stock from Radian Group at the public offering price of $14.50 per
share, less underwriting discounts and commissions. As a result, Radian
Group expects to issue a total of 17,825,000 shares of common stock in
the offering. Goldman, Sachs & Co. acted as book-running manager for the
offering, and J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC,
Keefe, Bruyette & Woods, Inc., and Macquarie Capital (USA) Inc. acted as
co-managers.
The offering was conducted pursuant to an effective registration
statement (including a base prospectus) under the Securities Act of
1933, as amended. A copy of the prospectus supplement and the
accompanying prospectus for the offering has been filed with the SEC and
is available for free on the SEC’s website, www.sec.gov.
Alternatively, copies may be obtained from Goldman, Sachs & Co., Attn:
Prospectus Department, 200 West Street, New York, NY 10282, by calling
(866) 471-2526 or by emailing prospectus-ny@ny.email.gs.com.
This press release is for informational purposes only and does not
constitute an offer to sell or the solicitation of an offer to buy any
security of the Company, nor will there be any sale of any such security
in any jurisdiction in which such offer, sale or solicitation would be
unlawful. The offering is made only by means of a prospectus supplement
and accompanying base prospectus.
About Radian
Radian Group Inc., headquartered in Philadelphia, provides private
mortgage insurance and related risk mitigation products and services to
mortgage lenders nationwide through its principal operating subsidiary,
Radian Guaranty Inc. These services help promote and preserve
homeownership opportunities for homebuyers, while protecting lenders
from default-related losses on residential first mortgages and
facilitating the sale of low-down payment mortgages in the secondary
market.
Source: Radian Group Inc.
Radian Group Inc.
Emily Riley, 215-231-1035
emily.riley@radian.com
