Vienna, VA – Assure Holding Corporation (“AHC”) today announced the successful completion of a private placement of senior notes with institutional investors. The Company intends to use the net proceeds from the offering to finance future growth. AHC, via its property and casualty insurance subsidiary, Americas Insurance Company, its reinsurance intermediary, Assure Re Intermediaries, and its managing general agency, Assure Underwriting Agency, cultivates relationships with program administrators targeting a particular niche insurance market, class or distribution model.
R. Ray Pate, Jr., President and Chief Executive Officer of AHC, commented: “The successful closing of this capital transaction provides institutional validation of our operational strategy and vision for the company; AHC’s operating entities have seen tremendous growth over the past three years, and the additional capital will provide our operating subsidiaries with financial flexibility to support our steady, future growth.”
BMS Capital Advisory acted as AHC’s financial advisor and agent for the placement of the senior notes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Assure Holding Corporation
Assure Holding Corporation (“AHC”) is an insurance holding company that owns a 100% interest in Americas Insurance Company, which is a property and casualty insurance company with licenses in 26 states, and operates as an issuing carrier for personal lines business produced by program administrators. AHC also owns a 100% interest in Assure Re Intermediaries, which specializes in the placement of reinsurance for commercial and personal lines business produced by program administrators. AHC owns a 100% interest in Assure Underwriting Agency, which is a program administrator that manages a book of Louisiana homeowners business.
About BMS Capital Advisory, Inc
BMS Capital Advisory, a member of the group of companies owned by Minova Insurance Holdings, is a full-service broker-dealer created to expand the group’s operational flexibility and bring alternative capital product offerings to current and prospective customers. Headquartered in New York City, with offices in Philadelphia and Minneapolis, BMS Capital Advisory advises insurance underwriters and distributors, private equity funds, and other institutional investors in the execution of select corporate finance engagements, such as mergers & acquisitions mandates and capital raise engagements, and insurance linked securities offerings.
BMS Capital Advisory, Inc. is a broker-dealer registered with the SEC and a member of FINRA (www.finra.org) and SIPC (www.sipc.org).