MDWT - Financial services company Midwest Holding readies 1M stock offering

Midwest Holding (MDWT) to commence initial public offering of 1M common shares at an initial expected price range of $70-$74 per shareNet proceeds will be used to support the growth of its insurance subsidiary, American Life & Security Corp., including possible product expansion and for general corporate purposes.Underwriters' over-allotment is an additional 150K shares.The company's four subsidiaries and related functions:The U.S. population over 65 years old is forecast to grow from 55M in 2020 to an estimated 79M in the next 20 years, according to the United Nations. By 2040, the portion of the U.S. population aged over 65 years old is expected to represent over 21% of the total population compared to under 17% in 2020.

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Financial services company Midwest Holding readies 1M stock offering