James River Announces Public Offering of Common Shares

James River Announces Public Offering of Common Shares

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PEMBROKE, Bermuda, May 05, 2021 (News) — James River Group Holdings, Ltd. (NASDAQ: JRVR) (the “Company”) announced today that it commenced an underwritten public offering of approximately $175 million of its common shares. The Company expects to use the net proceeds from the offering for general corporate purposes. The Company also expects to grant the underwriters a 30-day option to purchase up to approximately $26 million of additional common shares.

Barclays and Keefe, Bruyette & Woods, a Stifel Company, are acting as joint book-running managers for the proposed offering.

The offering is being made only by means of the applicable prospectus supplement and accompanying prospectus. A preliminary prospectus supplement relating to and describing the terms of the offering will be filed with the Securities and Exchange Commission (“SEC”) and will be available on the SEC’s website located at http://www.sec.gov. Copies of these documents, when available, may also be obtained by contacting Barclays Capital Inc., by calling (888) 603-5847 or by email at Barclaysprospectus@broadridge.com, or Keefe, Bruyette & Woods, Inc., by calling (212) 887-7777 or by email at kbwsyndicatedesk@kbw.com. The common shares are being offered by the Company pursuant to an effective shelf registration statement filed by the Company with the SEC.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.

Forward-Looking StatementsThis press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. In some cases, such forward-looking statements may be identified by terms such as believe, expect, seek, may, will, intend, project, anticipate, plan, estimate or similar words. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Although it is not possible to identify all of these risks and factors, they include, among others, the following: the Company’s expectations with respect to the completion, timing and size of the proposed public offering and satisfaction of closing conditions, the possibility that incurred losses may be greater than the Company’s loss and loss adjustment expenses reserves, inaccurate estimates and judgements exposing the Company to greater risk than intended, downgrades in the financial strength rating of our regulated insurance subsidiaries, the potential loss of key members of our management team and adverse economic factors impacting the number of policies sold or an increase in the frequency or severity of claims. These forward-looking statements speak only as of the date of this release and the Company does not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the Company’s business in general, please refer to the “Risk Factors” sections in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, and Quarterly Report on Form 10-Q for the three months ended March 31, 2021, as well as subsequent filings made by the Company with the SEC.

About the CompanyJames River Group Holdings, Ltd. is a Bermuda-based insurance holding company which owns and operates a group of specialty insurance and reinsurance companies. The Company operates in three specialty property-casualty insurance and reinsurance segments: Excess and Surplus Lines, Specialty Admitted Insurance and Casualty Reinsurance. The Company is headquartered in Pembroke, Bermuda.

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