Atlas Financial Holdings, Inc. (TSX.V: AFH; NASDAQ: AFH) ("Atlas"
or the "Company") today announced the closing of its initial public
offering of 4,125,000 ordinary shares, of which 1,500,000 shares were
sold by the Company and 2,625,000 shares were sold by an existing
shareholder of the Company. As previously announced on February 12, 2013
this offering was priced at $5.85 per share. In addition, Atlas granted
the underwriters a 30-day option to purchase up to 618,750 additional
ordinary shares at the initial public offering price. The shares began
trading on the Nasdaq Capital Market on February 12, 2013 under the
symbol "AFH" and continues to trade on the TSX Venture Exchange under
the same symbol.
Sandler O'Neill + Partners, L.P. acted as the book-running manager for
the offering. Sterne, Agee & Leach, Inc., EarlyBirdCapital, Inc. and
Sidoti & Company LLC acted as co-managers for the offering in the United
States. Canaccord Genuity Corp. acted as lead underwriter in connection
with the offering in Canada.
Atlas has filed a registration statement on Form S-1 (File No.
333-183276), including a prospectus, with the SEC for the offering,
which was declared effective by the SEC on February 11, 2013. The
offering is also being 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.
The offering is being made only by means of a written prospectus forming
a part of the effective registration statement.
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 paratransit, limousine/livery and business auto. The
business of Atlas is carried on through its insurance subsidiaries
American Country Insurance Company and American Service Insurance
Company, Inc. Effective January 1, 2013, Atlas acquired a third
operating insurance subsidiary, 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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