Hci group to redeem 4.25% convertible senior notes

Tampa, fla., jan. 10, 2024 (globe newswire) -- hci group, inc. (nyse: hci), a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, has notified holders of its 4.25% convertible senior notes that it has elected to redeem the remaining $24 million principal balance of the notes. the redemption date is march 15, 2024. as a result of this notice, the notes became immediately convertible into hci common shares. the current conversion rate, which is subject to adjustment, is 16.5893 common shares per $1,000 principal amount of the notes. the company expects all holders will elect to convert their notes. such conversions will have no impact on hci's diluted share count.
HCI Ratings Summary
HCI Quant Ranking