BEDFORD, Texas, Oct. 31, 2014 (GLOBE NEWSWIRE) -- State National Companies, Inc., today announced that the resale shelf registration statement on Form S-1 it had previously filed with the Securities and Exchange Commission was declared effective on October 30, 2014.
The registration statement registers for resale up to 30,728,500 shares of the common stock of State National. State National filed the resale shelf registration statement in order to satisfy its obligations in accordance with a registration rights agreement entered into in connection with the private offering of its common stock in June 2014. The shares are expected to begin trading on the NASDAQ Global Select Market on November 3, 2014 under the symbol "SNC". State National Companies, Inc. will not receive any proceeds from any sales under the resale shelf registration statement.
The offering of these securities may only be made by means of a prospectus. A registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. The registration statement may be accessed through the SEC's website at www.sec.gov. A copy of the related prospectus may be obtained from State National Companies, Inc., 1900 L. Don Dodson Drive, Bedford, Texas 76021 or by calling 817-265-2000.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
About State National Companies, Inc.
State National Companies, Inc. is a leading specialty provider of property and casualty insurance operating in two niche markets across the United States. In its Program Services segment, the company leverages its "A" (Excellent) A.M. Best rating, expansive licenses and reputation to provide access to the U.S. property and casualty insurance market in exchange for a ceding fee. In its Lender Services segment, the company specializes in providing collateral protection insurance, which insures personal automobiles, light trucks, SUVs and other vehicles held as collateral for loans made by credit unions, banks and specialty finance companies.