CHICAGO–(BUSINESS WIRE)–Kemper Corporation (NYSE: KMPR)
announced today that it has agreed to sell 1,350,000 shares of its
common stock in an underwritten public offering. In addition, Kemper has
granted the underwriter, Credit Suisse, a 30-day option to purchase up
to 202,500 additional shares of its common stock.
Credit Suisse will act as sole underwriter for the offering. Credit
Suisse agreed to purchase the shares of common stock and subsequently
sell those shares of common stock to public investors in an underwritten
at-the-market public offering.
Kemper intends to use the net proceeds from this offering together with
other funds to redeem all $150.0 million aggregate principal amount of
its 7.375% Subordinated Debentures due 2054.
The offering is being made pursuant to an effective shelf registration
statement previously filed by Kemper on May 8, 2017 with the Securities
and Exchange Commission (the “SEC”). The offering of these securities
will be made only by means of a prospectus supplement and accompanying
prospectus, copies of which may be obtained on the website of the SEC at www.sec.gov
or by contacting Credit Suisse Securities (USA) LLC, Attn: Prospectus
Department, Eleven Madison Avenue, 3rd floor, New York, NY 10010,
Telephone: 1-800-221-1037, Email: [email protected].
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities, nor does it constitute
an offer, solicitation or sale in any state or other jurisdiction in
which such offer, solicitation or sale is unlawful. In addition, this
press release does not constitute a notice of redemption with respect to
Kemper’s 7.375% Subordinated Debentures due 2054.
About Kemper
Kemper Corporation (NYSE: KMPR) is
one of the nation’s leading specialized insurers. With over $12 billion
in assets, Kemper is improving the world of insurance by providing
affordable and easy-to-use personalized solutions to individuals,
families and businesses through its Auto, Personal Insurance, Life and
Health brands. Kemper serves over 6.4 million policies, is represented
by more than 30,000 agents and brokers, and has over 8,000 associates
dedicated to meeting the ever-changing needs of its customers.
Cautionary Statements Regarding Forward-Looking Information
This press release may contain information that includes or is based on
forward-looking statements within the meaning of the safe-harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements give expectations or forecasts of future
events and can be identified by the fact that they relate to future
actions, performance or results rather than strictly to historical or
current facts.
Any or all forward-looking statements may turn out to be wrong, and,
accordingly, readers are cautioned not to place undue reliance on such
statements, which speak only as of the date of this press release.
Forward-looking statements involve a number of risks and uncertainties
that are difficult to predict and are not guarantees of future
performance. No assurances can be given that the results and financial
condition contemplated in any forward-looking statements will be
achieved or will be achieved in any particular timetable. Kemper assumes
no obligation to publicly correct or update any forward-looking
statements as a result of events or developments subsequent to the date
of this press release. The reader is advised, however, to consult any
further disclosures Kemper makes on related subjects in its filings with
the SEC.
Contacts
Investors: Michael Marinaccio, 312.661.4930, [email protected]
News
Media: Barbara Ciesemier, 312.661.4521, [email protected]
