Third Point Reinsurance Announces 22.222M Share IPO

Third Point Reinsurance Ltd., today announced that it has commenced an initial public offering of 22,222,222 of its common shares pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the "SEC"). The company is offering 21,524,492 common shares and certain selling shareholders are offering 697,730 common shares. The company expects to grant the underwriters a 30-day option to purchase up to an aggregate of 3,333,333 additional common shares. The initial public offering price is currently expected to be between $12.50 and $14.50 per common share. The company intends to use the net proceeds of the offering for general corporate purposes, including the costs associated with being a public company. The Company has been approved to list the common shares on the New York Stock Exchange under the ticker symbol "TPRE."The book-running managers for the offering are J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Morgan Stanley & Co. LLC, BofA Merrill Lynch and Citigroup Global Markets Inc. Aon Benfield Securities, Inc., Dowling & Partners Securities LLC, Keefe, Bruyette & Woods, Inc., Macquarie Capital (USA) Inc. and Sandler O'Neill + Partners, L.P. are acting as co-managers for See full press release