Kingsway Financial Completes Cross-Border Offering

Kingsway Financial Services Inc. completed a cross-border common share offering, which together with the proceeds from the exercise of the overallotment option, netted proceeds of approximately $142.3 million, under the multi-jurisdictional disclosure system, on December 19, 2001. The underwriting group for the offering was led by HSBC Securities (Canada) Inc. and CIBC World Markets Inc.

Kingsway was represented by Michael Slan, Monique Rabideau and Eric Roblin of Fogler, Rubinoff LLP, and Janet Love and David Seghetti of Lord Bissell & Brook, U.S. counsel. Stikeman Elliott represented the underwriters with a team that included Mihkel Voore and Maurice Swan. Skadden, Arps, Slate, Meagher & Flom LLP acted as U.S. counsel to the underwriters with a team that included, Riccardo Leofanti and Jason Saltzman.