Conifer Holdings (NASDAQ:CNFR) has announced the sale of a $25 senior note offering. The baby bonds carry a coupon of 6.75% and will mature in 2023.
The company is selling 800,000 shares with an additional 120,000 being available for overallotment.
The new issue will have an anticipated ticker of CNFRL. The baby bonds should trade on NASDAQ in the next 10 days or so.
Conifer is a small property/casualty insurer headquartered in Michigan and they target niche and under served segments. The company was formed in 2012 and focuses on insurance for bars, restaurants and convenience stores etc.
This FWP (free writing prospectus) contains a company presentation with pricing as well as other details about the company. Potential investors would do well to review this FWP prior to purchasing any shares. This is a small company and we are not familiar at all with them, but as always we certainly like the short maturity.