Assured also granted to the underwriters of the public offering an option to purchase an additional 1,764,705 common shares at the same price. Banc of America Securities and Merrill Lynch are acting as joint book-runners of the public offering.
Assured intends to contribute the net proceeds of the offering to its reinsurance subsidiary, Assured Guaranty Re. Assured Guaranty Re intends to use the proceeds to capitalize on large reinsurance portfolio opportunities which provide capital relief to unaffiliated mono-line financial guaranty companies.
