Premier Diversified Holdings raises for new Sequant Re investment

by Artemis on February 1, 2017

Premier Diversified Holdings Inc. (PDH), a holding company with a liking for reinsurance and in particular a backer of collateralised reinsurance investments start-up Sequant Re, has announced the completion of a private placement offering to fund a new investment into Sequant.

PDH offered up to 3.2 million of its shares at $0.125 per share in a private non-brokered placement to investors and raised aggregate gross proceeds of $400,000.

Much of the $400k raised will now be used to invest into Sequant Reinsurance Holdings Ltd., buying additional shares in the holding company. PDH said it will buy $300,000 worth of Sequant Re shares at a price of $0.50 per share.

PDH already holds a significant holding of common shares in Sequant Re, which equates to almost 41% of the company on an undiluted basis.

PDH has steadily build up its share in Sequant Re, the start-up underwriter of fully collateralised reinsurance transactions that intends to capitalise them through the issuance of insurance-linked securities to third-party investors.

PDH’s latest investment in Sequant Re is expected to close in the coming days.

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