Tower Group files for $55 million shelf; shareholder selling $5 million shares

By Jennifer Chiou

New York, Nov. 16 - Tower Group, Inc. registered to sell up to $55 million of securities in a shelf and a shareholder has a secondary offering for $5,008,710 of shares, according to an S-3 filing with the Securities and Exchange Commission.

The New York-based research and consulting firm said 0.161 million shares will make up the secondary offering.

Covered by the shelf are common stock, preferred stock, depositary shares and warrants. Preferred stock may be structured as convertibles.

Proceeds will go towards general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.