FedNat to raise $43mn in rights issue as Uri claims bite
FedNat Holding Company is seeking to raise $43mn in an equity issuance, after the company revealed in its Q4 results that losses from Winter Storm Uri will cost the Florida carrier $41mn.
The insurer is selling 6.5 million shares in a public offering, news of which pushed the carrier’s share price down 2% to $6.63.
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