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Usi Holdings Inc

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October 23, 2002 | Debora Vrana
Despite the dismal market for first-time stock offerings, USI Holdings Corp., a San Francisco-based insurance firm, raised $90 million through an initial public offering Tuesday. USI Holdings sold 9 million shares at $10 a share in an IPO led by Merrill Lynch & Co. The company's stock -- ticker symbol USIH -- closed unchanged at $10 in Nasdaq trading Tuesday. Proceeds will be used to pay down debt. The IPO is notable in a year when so few companies have gone public.
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BUSINESS
October 23, 2002 | Debora Vrana
Despite the dismal market for first-time stock offerings, USI Holdings Corp., a San Francisco-based insurance firm, raised $90 million through an initial public offering Tuesday. USI Holdings sold 9 million shares at $10 a share in an IPO led by Merrill Lynch & Co. The company's stock -- ticker symbol USIH -- closed unchanged at $10 in Nasdaq trading Tuesday. Proceeds will be used to pay down debt. The IPO is notable in a year when so few companies have gone public.
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