HCI - HCI Group proposes offering of $150M convertible senior notes

HCI Group (NYSE:HCI) has proposed an offering of $150M of convertible senior notes due 2042. Initial purchasers of the notes will be granted an option to buy up to an additional $22.5M aggregate principal amount of the notes. The notes will be senior unsecured obligations of HCI, with interest payable semi-annually. Prior to March 1, 2042, the notes will be convertible only (a) during the period beginning on, and including, March 1, 2027 and ending at the close of business on the business day immediately preceding June 7, 2027, or (b) upon the occurrence of specified events.  HCI will also have the right to redeem the notes conditionally, in whole or in part, for cash at any time on or after June 5, 2025. The company plans to use up to 40% of the gross proceeds from the offering to repurchase shares of its common stock, with remaining proceeds used

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HCI Group proposes offering of $150M convertible senior notes