Atlas Financial Holdings, Inc. (TSX.V: AFH) ("Atlas" or the
"Company") today announced that it has commenced an underwritten public
offering of 4,630,000 ordinary shares, of which 1,500,000 shares are
being offered by the Company and 3,130,000 shares are being offered by
an existing shareholder of the Company. These share counts reflect the
one-for-three reverse stock split effective today as previously
disclosed by the Company.
Upon the closing of the offering, the Company expects that its ordinary
shares will be listed on the Nasdaq Capital Market, under the symbol
"AFH" and will remain listed on the TSX Venture Exchange under the same
Sandler O'Neill + Partners, L.P. is acting as the book-running manager
for the offering. Sterne, Agee & Leach, Inc., EarlyBirdCapital, Inc. and
Sidoti & Company LLC are acting as co-managers for the offering in the
United States. Canaccord Genuity Corp. is acting as lead underwriter in
connection with the offering in Canada. The underwriters will have a
30-day option to purchase up to an additional 15% of the offered amount
of ordinary shares from Atlas to cover over-allotments, if any.
Atlas has filed a registration statement on Form S-1 (File No.
333-183276), including a prospectus, with the SEC for the offering to
which this communication relates. The offering will also be made in
Canada pursuant to a short form prospectus filed in the provinces of
Ontario, Alberta and British Columbia. Prospective investors should read
the prospectus in the registration statement and other documents that
the Company has filed for more complete information about the Company
and the offering. Investors may obtain these documents without charge by
visiting EDGAR on the SEC or SEDAR websites at www.sec.gov
respectively. Alternatively, copies of the U.S. written prospectus may
be obtained from Sandler O'Neill + Partners, 1251 Avenue of The
Americas, 6th Floor, New York, NY 10020, (866) 805-4128, and copies of
the Canadian short form prospectus may be obtained from Canaccord
Genuity Corp., 161 Bay Street, 30th Floor, Toronto, Ontario,
Canada, M5J 2S1.
A registration statement relating to these securities has been filed
with the Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be
accepted in the United States prior to the time the registration
statement becomes effective, and in Canada until a final receipt for the
short form prospectus is obtained from the Canadian securities
This news release does not constitute an offer to sell or a solicitation
of an offer to buy the securities described herein, nor shall there be
any sale of these securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction.
About Atlas Financial Holdings, Inc.
The primary business of Atlas is commercial automobile insurance in the
United States, with a niche market orientation and focus on insurance
for the "light" commercial automobile sector including taxi cabs,
non-emergency para-transit, limousine/livery and business auto. The
business of Atlas is carried on through its insurance subsidiaries
American Country Insurance Company, American Service Insurance Company,
Inc. and Gateway Insurance Company. Atlas' insurance subsidiaries have
decades of experience with a commitment to being an industry leader in
these specialized areas of insurance.
This release includes forward-looking statements regarding Atlas and its
insurance subsidiaries and businesses. Such statements are based on the
current expectations of the management of each entity. The words
"anticipate", "expect", "believe", "may", "should", "estimate",
"project", "outlook", "forecast" or similar words are used to identify
such forward looking information. The forward-looking events and
circumstances discussed in this release may not occur and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting the Company and its subsidiaries, including
risks regarding the insurance industry, economic factors and the equity
markets generally and the risk factors discussed in the "Risk Factors"
section of the Company's registration statement on Form S-1 and the
Canadian short form prospectus. No forward-looking statement can be
guaranteed. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they are
made and Atlas and its subsidiaries undertake no obligation to publicly
update or revise any forward-looking statement, whether as a result of
new information, future events, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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