American Equity Investment Life Holding Company is executing previously announced plans to sell 13 million shares of common stock to the public and giving the sale underwriters a chance to sell another 1.95 million shares.[@@]
American Equity, West Des Moines, Iowa, a major player in the equity-indexed annuity market, says it will be selling the stock for a price of $11.60 per share.
The price could give the common stock sale and the underwriters’ stock sale a total value of about $174 million.
Raymond James & Associates Inc., Tampa, Fla., is managing the offering.