Hallmark Announces Pricing
2006年10月5日 - 7:35AM
PRニュース・ワイアー (英語)
FORT WORTH, Texas, Oct. 4 /PRNewswire-FirstCall/ -- Hallmark
Financial Services, Inc. (AMEX:HAF) today announced that its
registration statement on Form S-1 has been declared effective by
the Securities and Exchange Commission, the offering of shares of
its common stock has been priced at $9.00 per share and an
underwriting agreement has been executed with the underwriters of
the public offering. Pursuant to the underwriting agreement, the
Company will sell 3,000,000 shares of its common stock and has
granted the underwriters a 30-day option to purchase an additional
450,000 shares to cover over-allotments, if any. Hallmark intends
to use the net proceeds from the public offering to repay certain
indebtedness and for general working capital purposes. Hallmark
also announced that its common stock has been approved for listing
on the NASDAQ Global Market under the symbol "HALL." As a result,
trading in Hallmark common stock will cease on the American Stock
Exchange and commence on the NASDAQ Global Market effective as of
the open of the markets on Friday, October 6, 2006. Piper Jaffray
& Co. is acting as sole bookrunning manager for the offering
and William Blair & Company, L.L.C., Keefe, Bruyette &
Woods, Inc. and Raymond James & Associates, Inc. are acting as
co-managers. This offering of shares of common stock will be made
only by means of a prospectus. A written prospectus meeting the
requirements of Section 10 of the Securities Act of 1933 may be
obtained from Piper Jaffray & Co. at 800 Nicollet Mall,
Minneapolis, MN 55402-7020; Phone: (800) 333-6000. This press
release does not constitute an offer to sell or a solicitation of
an offer to buy these securities, and none of these securities may
be sold in any state in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of such state. Hallmark Financial Services, Inc. is
an insurance holding company which, through its subsidiaries,
engages in the sale of property and casualty insurance products to
businesses and individuals. The Company's business involves
marketing, distributing, underwriting and servicing commercial
insurance in Texas, New Mexico, Idaho, Oregon, Montana, Louisiana,
Oklahoma and Washington; marketing, distributing, underwriting and
servicing non- standard personal automobile insurance in Texas, New
Mexico, Arizona, Oklahoma and Idaho; marketing, distributing,
underwriting and servicing general aviation insurance in 48 states;
and providing other insurance related services. The Company is
headquartered in Fort Worth, Texas and its common stock is
presently listed on the American Stock Exchange under the symbol
"HAF". Forward-looking statements in this Release are made pursuant
to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that actual
results may differ substantially from such forward-looking
statements. Forward-looking statements involve risks and
uncertainties including, but not limited to, continued acceptance
of the Company's products and services in the marketplace,
competitive factors, interest rate trends, the availability of
financing, underwriting loss experience and other risks detailed
from time to time in the Company's periodic report filings with the
Securities and Exchange Commission. For further information, please
contact: Mark J. Morrison, President and Chief Executive Officer,
at (817) 348-1600 http://www.hallmarkgrp.com/ DATASOURCE: Hallmark
Financial Services, Inc. CONTACT: Mark J. Morrison, President and
Chief Executive Officer of Hallmark Financial Services, Inc.,
+1-817-348-1600 Web site: http://www.hallmarkgrp.com/
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