SpaceX President Gwynne Shotwell Earns $85.8M as IPO Buzz Grows 
Elon Musk Signals Intel 14A Chips for Tesla’s Terafab AI Semiconductor Venture 
Florida Investigates OpenAI and ChatGPT Over Alleged Role in FSU Shooting 
Nvidia Pushes 800V Data Center Power Systems to Boost Efficiency and Cut Costs 
SK Hynix Reports Record Q1 Profit Surge Driven by AI Memory Chip Demand 
Samsung Boosts DRAM Supply to Tesla as AI-Driven Memory Demand Surges 
Florida Launches Criminal Probe Into OpenAI Over FSU Shooting Incident 
Nidec Stock Rises After Accounting Probe Report Eases Delisting Concerns 
Meta Expands AI Training With Employee Activity Tracking Tools 
Tesla Earnings Beat Expectations as EV Growth Holds Amid Robotics and AI Shift 
Kakaku.com Stock Surges on EQT Takeover Interest Amid Rising Japan Deal Activity 
China Food Delivery Stocks Dip as Regulators Crack Down on “Ghost Deliveries” 
Tesla Q1 Earnings Preview: Robotaxi Delays and SpaceX Merger Speculation Grow 
Microsoft Commits $18 Billion to Expand AI and Cloud Infrastructure in Australia 
SK Hynix to Invest $13 Billion in AI Chip Packaging Facility 
Apple Stock Dips as Tim Cook Steps Down, John Ternus Named Next CEO 
LG Innotek Stock Hits Record High on $68M Automotive Wi-Fi 7 Deal 
TAMPA, Fla., March 14, 2017 -- HCI Group, Inc. (NYSE:HCI) on March 3, 2017 delivered notice to the holders of its outstanding 8% senior notes due January 30, 2020 (NYSE:HCJ) that it will redeem all the notes on April 3, 2017. The redemption price will be 100% of the principal amount of the notes ($25 per note) plus accrued and unpaid interest from January 30, 2017 to the redemption date.
The total outstanding principal amount of the notes is $40.25 million. HCI recently completed a private placement offering of $143.75 million of 4.25% convertible senior notes to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and, as part of that offering, stated it would use a portion of the proceeds to redeem all the 8% senior notes.
“The convertible debt offering and this redemption are part of our continual efforts to maintain a strong balance sheet so that we may pursue accretive opportunities when they arise,” said HCI Chief Executive Officer Paresh Patel.
The Bank of New York Mellon Trust Company, N.A. will act as paying agent. For additional information interested persons may contact—
Ms. Barbara Salls
Associate Client Service Manager
The Bank of New York Mellon Trust Company, N.A. Corporate Trust
10161 Centurion Parkway North, 2nd Floor
Jacksonville, Florida 32256
Telephone 904-645-1909 | Fax 904-645-1921
[email protected]
About HCI Group, Inc.
HCI Group, Inc. owns subsidiaries engaged in diverse, yet complementary business activities, including homeowners insurance, reinsurance, real estate and information technology. The company's largest subsidiary, Homeowners Choice Property & Casualty Insurance Company, Inc., is a leading provider of property and casualty insurance in the state of Florida.
The company's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 and S&P SmallCap 600 Index. Its 8% Senior Notes trade on the New York Stock Exchange under the ticker symbol "HCJ." For more information about HCI Group, visit www.hcigroup.com.
Company Contact: Kevin Mitchell, Vice President of Investor Relations HCI Group, Inc. Tel (813) 405-3603 [email protected] Investor Relations Contact: Matt Glover or Najim Mostamand Liolios Group, Inc. Tel (949) 574-3860 [email protected]
