Maiden and Kestrel Announce $167.5M Merger to Create Specialty Program Group
Maiden and Kestrel Announce $167.5M Merger to Create Specialty Program Group
Maiden Holdings, Ltd. (NASDAQ:MHLD) ("Maiden" or the "Company") and Kestrel Group LLC ("Kestrel") today announced that they have entered into a combination agreement to combine and form a new, publicly listed specialty program group.
Maiden Holdings（納斯達克：MHLD）（"Maiden"或"公司"）與Kestrel Group LLC（"Kestrel"）今天宣佈，他們已達成合並協議，以組合成立一個新的公開上市專業項目集團。
Pursuant to the terms of the combination agreement, at the closing of the transaction, each issued and outstanding common share of Maiden will be converted into the right to receive one common share in a newly formed Bermuda company that will acquire both Maiden and Kestrel (the "combined company"). The transaction values Kestrel at up to $167.5 million, consisting of upfront cash of $40 million, 55 million common shares of the combined company valued at $82.5 million and an earnout of up to $45 million payable in common shares of the combined company. At the closing of the transaction, the combined company will be rebranded as Kestrel Group and expects that its common shares will be listed on the Nasdaq.
根據合併協議的條款，在交易 closing 時，每一已發行的並且未償還的Maiden普通股將被轉換爲在一個新成立的百慕大公司中獲得一股普通股的權利，該公司將收購Maiden和Kestrel（"合併公司"）。該交易將Kestrel的估值高達16750萬美元，其中包括4000萬美元的前期現金、價值8250萬美元的5500萬股合併公司的普通股及最高可達4500萬美元的以合併公司的普通股支付的收益。交易 closing 時，合併公司將更名爲Kestrel Group，並預計其普通股將在納斯達克上市。
