Heritage Insurance announces common stock offering

Heritage Insurance Holdings announced that it is commencing an underwritten public offering of its shares of common stock. Heritage intends to use the net proceeds from the offering for general corporate and operations purposes and to provide capital for anticipated growth and expansion efforts. Ernie Garateix, a director of the company and its CEO, Paul Whiting, a director of the company and Raymond Hyer, a current holder of approximately 13.5% of the company’s outstanding common stock, have advised the company that they intend to purchase directly from the company, in a concurrent private placement, up to an aggregate of $1.5M of shares of common stock at the public offering price. JonesTrading Institutional Services is acting as the sole book-running manager for the offering.