EIG Mutual Holding Company Files Registration Statement with SEC
12-4-06 -- RENO, Nev.-- EIG Mutual Holding Company today announced that it has filed a registration statement with the Securities and Exchange Commission (SEC) in connection with its proposed initial public offering of shares of its common stock. The Company proposes to undertake this offering concurrently with its conversion from a mutual insurance holding company to a stock corporation in accordance with the Plan of Conversion adopted by the Company's Board of Directors on August 17, 2006 and amended and restated on October 3, 2006. The proposed offering by the Company remains subject to a number of conditions, including the entry into an underwriting agreement with the underwriters of the offering, approval of the Plan of Conversion by the required votes of the Company's members, final approval from the Nevada Division of Insurance, and declaration of the effectiveness of the registration statement relating to the offering by the SEC.
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The registration statement relating to these securities was filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
The lead underwriter for the offering will be Morgan Stanley & Co. Incorporated. A copy of the prospectus relating to these securities may be obtained when available from Morgan Stanley & Co. Incorporated, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, or by e-mailing firstname.lastname@example.org. Additionally, members of EIG Mutual Holding Company may check the EMPLOYERSSM website at www.eig.com for periodic updates.
This press release contains certain forward-looking statements about the Company's conversion from a mutual insurance holding company to a stock corporation and the concurrent initial public offering of common stock of the Company. Forward-looking statements include statements regarding the market for the stock and anticipated future results and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like "believe," "expect," "anticipate," "estimate" and "intend" or future or conditional verbs such as "will," "would," "should," "could" or "may." Certain factors that could cause actual results to differ materially from expected results include delays in consummation of the conversion and initial public offering, increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the business of the Company and its subsidiaries.