SiriusPoint Confirms Contingent Value Rights Maturity Payment
HAMILTON, Bermuda, March 01, 2023 (GLOBE NEWSWIRE) -- As previously disclosed, SiriusPoint Ltd. (the “Company”) (NYSE: SPNT) entered into the Contingent Value Rights Agreement, dated as of February 26, 2021, by and between the Company, Computershare Inc. and Computershare Trust Company, N.A. (the “CVR Agreement”).
Pursuant to the CVR Agreement, the Company issued contingent value rights (“CVRs”), representing the right to receive, on the Maturity Date (as defined below), a contingent cash payment of $13.73 minus the volume weighted average price (VWAP) of the Company Shares measured over the fourteen (14) consecutive trading day period prior to the Maturity Date multiplied by 0.743.
The CVRs matured on February 26, 2023 (the “Maturity Date”). The volume weighted average price of Company common shares over the fourteen (14) consecutive trading day period immediately preceding the Maturity Date as reported by Bloomberg L.P. was $7.1609 per common share. Accordingly, holders of CVRs will receive a cash payment of $8.4095 per CVR. If your CVRs are held with your broker, please contact your broker for information specific to your holdings. If your CVRs are held at Computershare, please contact Computershare for information specific to your holdings.
About SiriusPoint
SiriusPoint is a global underwriter of insurance and reinsurance providing solutions to clients and brokers around the world. Bermuda-headquartered with offices in New York, London, Stockholm and other locations, we are listed on the New York Stock Exchange (SPNT). We have licenses to write Property & Casualty and Accident & Health insurance and reinsurance globally. Our offering and distribution capabilities are strengthened by a portfolio of strategic partnerships with Managing General Agents within our Insurance & Services segment. With $2.9 billion total capital, SiriusPoint’s operating companies have a financial strength rating of A- (Excellent) from AM Best, S&P and Fitch. For more information, please visit
Contacts
Investor Relations
Dhruv Gahlaut, Chief Strategy Officer & Head of Investor Relations
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Media
Clare Kerrigan, Chief Communications Officer
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Source: SiriusPoint Ltd.
