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HAMILTON, Bermuda, Feb. 25, 2025 (GLOBE NEWSWIRE) -- SiriusPoint Ltd. (“SiriusPoint” or the “Company”) (NYSE: SPNT) today announced that entities associated with Daniel S. Loeb (collectively, the “Loeb Entities”) are offering an aggregate of 4,106,631 common shares through a registered secondary offering.
SiriusPoint has indicated its intent to repurchase an aggregate of up to 2,000,000 of the common shares being offered in the offering at the public offering price. SiriusPoint would cancel any common shares it repurchases in the offering.
Immediately following the completion of the offering and our previously announced repurchase of all of common shares and warrants currently held by CM Bermuda, it is expected that the Loeb Entities will own approximately 9.67% of SiriusPoint’s issued and outstanding common shares, up from approximately 9.4% prior to the offering and the CM Bermuda repurchase.
Under the terms of the transaction, the remaining shares owned by the Loeb Entities will be subject to a 90 day lock-up agreement with the sole bookrunning manager.
Jefferies is acting as the sole bookrunning manager for the proposed offering.
The offering will be made only by means of an effective registration statement and a prospectus. The Company has previously filed with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement (including a prospectus) on Form S-3 (File No. 333-283827), dated December 16, 2024, and a preliminary prospectus supplement for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the accompanying prospectus supplement, and other documents the Company has filed with the SEC for more complete information about the Company and this offering. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at prospectus_department@jefferies.com. Electronic copies of the preliminary prospectus supplement and accompanying prospectus will also be available on the website of the SEC at http://www.sec.gov. 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 these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.