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Annexus to Offer Social Security Uncertainty Protection
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Midwest Holding Announces Strategic Reinsurance Relationship with American Republic Insurance Company, a Subsidiary of American Enterprise Group
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Midwest Holding Announces Strategic Reinsurance Relationship with American Republic Insurance Company, a Subsidiary of American Enterprise Group
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Midwest Holding Announces Strategic Reinsurance Relationship with American Republic Insurance Company, a Subsidiary of American Enterprise Group
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LINCOLN, Neb., Dec. 21, 2020 /PRNewswire/ Midwest Holding Inc. ( Midwest ) (NASDAQ: MDWT ) today announced the closing of its previously announced underwritten public offering of 1,000,000 shares of its voting common stock at a price to the public of $70.00 per share. The aggregate net proceeds to the Company are expected to be approximately $65.1 million, after deducting underwriting discounts and commissions.
Midwest intends to use the net proceeds of the offering to support the growth of its insurance subsidiary, American Life & Security Corp., including possible product expansion and for general corporate purposes.
Piper Sandler & Co. acted as sole bookrunner and JMP Securities acted as co-manager for the offering.