Summary
The Hartford Financial Services Group, Inc. (HIG) filed an 8-K report on October 19, 2001, disclosing the completion of a common stock offering. The company successfully sold 7,042,253 primary common shares through its sole underwriter, Salomon Smith Barney. This offering generated significant proceeds for The Hartford, with the company receiving $56.82 per share, after an underwriting discount of $0.18 per share. The total aggregate proceeds before expenses amounted to approximately $400.1 million. This capital infusion is a key event for investors, indicating the company's strategy to raise funds for its operations or future investments.
Key Highlights
- 1The Hartford Financial Services Group, Inc. announced a common stock offering.
- 27,042,253 primary common shares were offered.
- 3Salomon Smith Barney acted as the sole underwriter for the transaction.
- 4The company sold shares at a purchase price of $57.00 per share.
- 5An underwriting discount of $0.18 per share was applied.
- 6The Hartford received net proceeds of $56.82 per share.
- 7Total aggregate proceeds before expenses were approximately $400.1 million.