SEC Filing Summary: Conifer Holdings, Inc. (Presurance Holdings, Inc.)
Business Context and Reporting Period
This Form 8-K Current Report, dated October 12, 2018, concerns Conifer Holdings, Inc. (also referenced as Presurance Holdings, Inc. in metadata). The filing reports the completion of a debt offering and the exercise of an over-allotment option.
Key Financial Metrics
- Debt Issuance: The Company completed the sale of an additional $3,300,000 aggregate principal amount of 6.75% senior unsecured notes due 2023.
- Total Offering Size: Combined with the initial $22,000,000 issued on September 24, 2018, the total principal amount of notes issued is $25,300,000.
- Interest Rate: 6.75% per annum.
- Maturity Date: 2023.
- Revenue, Profit, and Cash Flow: The filing text does not provide specific values for revenue, profit, cash flow, margins, or liquidity metrics.
Material Changes
The primary material change is the full exercise of the 30-day over-allotment option by the underwriters (represented by Boenning & Scattergood, Inc.). This action increased the total debt obligation by $3,300,000 compared to the initial offering disclosed on September 24, 2018. The terms of the additional notes are identical to the initial notes.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the standard incorporation of the Underwriting Agreement and Indenture. The creation of a direct financial obligation is noted under Item 2.03, referencing the terms of the notes.
Investor Verification Checklist
- Verify the total outstanding principal of the 6.75% senior unsecured notes due 2023 is now $25,300,000.
- Review the full text of the Underwriting Agreement and Indenture (Exhibits 1.1, 4.1, 4.2, 4.3) for covenants and repayment terms.
- Confirm the use of proceeds from the $25,300,000 offering, as this filing does not explicitly state the allocation of funds.
- Check subsequent filings for any impact on the company's leverage ratios or liquidity position.