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Life Health > Health Insurance

Brooke Prices Stock Offering

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A publicly traded financial services firm with a small life, health and investment operation hopes to raise about $33 million by selling stock to the public.[@@]

The firm, Brooke Corp., Overland Park., Kan., has priced the main offering of 2.5 million shares at $11.50 per share.

The company also has given the underwriters of the offering a chance to buy 375,000 additional shares. Sandler O’Neill & Partners L.P., New York, is the lead underwriter for the offering.

Brooke, which already trades on the Nasdaq National Market, expects the offering to close Aug. 15.

Brooke reports in the prospectus for the offering that it earned about $1.1 million of its $57 million in 2004 commission revenue through sales of life insurance, health insurance, investment services and related products and services through franchised financial services offices.


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