Underwriting

American City Business Journals Creates Small Biz Backer Platform for Small Businesses to Share Their Stories

Thursday, May 28, 2020 - 10:09pm

To help small businesses get back on their feet and share their stories of response and survival, American City Business Journals has partnered with supporting sponsors and underwriters to create Small Biz Backer, a new product launched this month.

Key Points: 
  • To help small businesses get back on their feet and share their stories of response and survival, American City Business Journals has partnered with supporting sponsors and underwriters to create Small Biz Backer, a new product launched this month.
  • Small Biz Backer will be in print and digital platforms across the 44 cities where ACBJ publishes local business journals.
  • A Small Biz Backer underwriter can donate listings to small businesses they choose, such as customers, suppliers and vendors.
  • Small Biz Backer will appear across the print and digital versions of the local business journals and their email newsletters.

Digirad Corporation Announces Closing of $5.0 Million Underwritten Public Offering

Thursday, May 28, 2020 - 9:05pm

Gross proceeds, before deducting underwriting discounts and offering expenses, were approximately $5.0 million.

Key Points: 
  • Gross proceeds, before deducting underwriting discounts and offering expenses, were approximately $5.0 million.
  • The offering was conducted pursuant to the Company's registration statement (the Registration Statement) on Form S-1 (File No.
  • A prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov.
  • Digirad Corporation is a diversified holding company with three operating divisions: Healthcare, Building & Construction, and Real Estate & Investments.

Viela Bio Announces Pricing of Public Offering of Common Stock

Thursday, May 28, 2020 - 3:41am

GAITHERSBURG, Md., May 27, 2020 (GLOBE NEWSWIRE) -- Viela Bio, Inc. (Nasdaq:VIE), a clinical-stage biotechnology company pioneering treatments for autoimmune and severe inflammatory diseases, today announced the pricing of an underwritten public offering of 3,600,000 shares of its common stock at a price to the public of$47.00per share.

Key Points: 
  • GAITHERSBURG, Md., May 27, 2020 (GLOBE NEWSWIRE) -- Viela Bio, Inc. (Nasdaq:VIE), a clinical-stage biotechnology company pioneering treatments for autoimmune and severe inflammatory diseases, today announced the pricing of an underwritten public offering of 3,600,000 shares of its common stock at a price to the public of$47.00per share.
  • The gross proceeds to Viela Bio from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be approximately $169 million.
  • In addition, certain selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 540,000 shares of common stock from the selling stockholders at the public offering price less underwriting discounts and commissions.
  • Morgan Stanley, Goldman Sachs& Co. LLC,Cowenand Guggenheim Securities are acting as the joint book-running managers for the offering.

Best’s Market Segment Report: AM Best Revises Outlook on South Korea’s Non- Life Insurance Market to Negative Amid COVID-19 Pandemic

Thursday, May 28, 2020 - 1:00am

AM Best has revised its market segment outlook to negative from stable on South Koreas insurance industrys non-life insurance sector.

Key Points: 
  • AM Best has revised its market segment outlook to negative from stable on South Koreas insurance industrys non-life insurance sector.
  • A new Bests Market Segment Report, titled, Market Segment Outlook: South Korea, Non-Life, states that South Koreas non-life insurance segment went through a difficult year in 2019, particularly in terms of underwriting performance.
  • The main cause of the poor results was the increased loss ratio for the automobile insurance segment and worse-than-expected profitability in the long-term insurance line.
  • Although the stock market has partially recovered from bottoming out in mid-March, it has not fully recovered to pre-pandemic levels.

Iovance Biotherapeutics, Inc. Announces Proposed Public Offering of Common Stock

Wednesday, May 27, 2020 - 9:20pm

All of the shares in the offering are to be sold by Iovance.

Key Points: 
  • All of the shares in the offering are to be sold by Iovance.
  • Iovance intends to grant the underwriters a 30-day option to purchase up to $75 million of additional sharesof common stock at the public offering price, less the underwriting discounts and commissions.
  • Jefferies LLC and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the offering.
  • The forward-looking statements include, but are not limited to, statements about the Companys anticipated public offering and the anticipated use of proceeds therefrom.

Dynavax Technologies Announces Closing of $80.5 Million Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares

Wednesday, May 27, 2020 - 9:05pm

The gross proceeds to Dynavax from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Dynavax, were approximately $80.5 million.

Key Points: 
  • The gross proceeds to Dynavax from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Dynavax, were approximately $80.5 million.
  • Cowen, Evercore ISI and William Blair acted as joint book-running managers for the offering.
  • H.C. Wainwright & Co. acted as co-manager for the offering.
  • This press release contains forward-looking statements, including statements related to the expectations regarding the anticipated use of the net proceeds.

Inari Medical Announces Closing of Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares

Wednesday, May 27, 2020 - 5:48pm

The gross proceeds to Inari, before deducting underwriting discounts and commissions and offering expenses, were approximately $179.2 million.

Key Points: 
  • The gross proceeds to Inari, before deducting underwriting discounts and commissions and offering expenses, were approximately $179.2 million.
  • Inaris common stock is listed on the Nasdaq Global Select Market under the symbol "NARI."
  • BofA Securities and Morgan Stanley acted as joint lead bookrunning managers for the offering.
  • Inari Medical, Inc. is a commercial-stage medical device company focused on developing products to treat and transform the lives of patients suffering from venous diseases.

Traders Insurance Selects Cloverleaf Analytics

Wednesday, May 27, 2020 - 4:15pm

AUSTIN, Texas, May 27, 2020 (GLOBE NEWSWIRE) -- Cloverleaf Analytics (Cloverleaf) , an insurance-ready, enterprise business intelligence (BI) and analytics solution provider, is pleased to announce Traders Insurance (Traders) has selected the Cloverleaf business intelligence (BI) solution to enhance real-time data capabilities which will allow faster, more efficient underwriting and claims resolution.

Key Points: 
  • AUSTIN, Texas, May 27, 2020 (GLOBE NEWSWIRE) -- Cloverleaf Analytics (Cloverleaf) , an insurance-ready, enterprise business intelligence (BI) and analytics solution provider, is pleased to announce Traders Insurance (Traders) has selected the Cloverleaf business intelligence (BI) solution to enhance real-time data capabilities which will allow faster, more efficient underwriting and claims resolution.
  • A Kansas City, Missouri-based insurance company, Traders has been a pioneer in the specialty auto insurance field offering affordable insurance policies to cost-conscious individuals and families in Arkansas, Kansas, Oklahoma and Missouri.
  • Contrary to popular wisdom, price isnt the only differentiator in the auto insurance market today, said Mark Concannon, CEO of Traders.
  • Cloverleaf Analytics (Cloverleaf) delivers a comprehensive business intelligence (BI) solution which reduces risk and improves profitability and performance for P&C insurance companies.

On-Demand Insurance arrives in Brazil, powered by Trov & Sura

Wednesday, May 27, 2020 - 2:00pm

Recent regulatory changes advocated by SUSEP, have enabled insurers to offer on-demand insurance products to consumers and businesses in Brazil.

Key Points: 
  • Recent regulatory changes advocated by SUSEP, have enabled insurers to offer on-demand insurance products to consumers and businesses in Brazil.
  • Trov's world leading insurance technology platform will enable SURA to underwrite robust all-digital P&C insurance applications branded by Brazil's most prominent financial institutions and consumer platforms.
  • Trov and SURA will begin by launching a flexible on-demand insurance product for personal valuables and mobility, and expand to other insurance products such as auto, home and small business.
  • "SURA is an immensely innovative underwriter with the ambition to offer modern, customer-centric insurance experiences," commented Scott Walchek, CEO/Founder of Trov.

AXA XL to launch first-of-its-kind Construction Ecosystem to provide contractors in-depth insight of jobsite & operational risks

Wednesday, May 27, 2020 - 2:00pm

Starting in June, a number of current customers will have exclusive access to the Construction Ecosystem and have signed on to utilize and provide initial feedback on the platform.

Key Points: 
  • Starting in June, a number of current customers will have exclusive access to the Construction Ecosystem and have signed on to utilize and provide initial feedback on the platform.
  • According to Gary Kaplan, president of AXA XL's North America Construction business, "The construction industry may have a reputation of being slow to adapt to technology, but that's about to change.
  • AXA XL's Construction Ecosystem has the capability to provide contractors with all-in-one access to a wide-range of information such as:
    "Insurance has always relied on data to make our underwriting decisions.
  • Our Construction Ecosystem allows us and our clients to collect, share and act on more information than we've ever had before.