Notable News to Watch: Watford Holdings Ltd. (NASDAQ:WTRE)

Watford Holdings Ltd. (NASDAQ:WTRE) stock observed trading -8.09% off 52-week high price. On the other end, the stock has been noted 12.41% away from low price over the last 52-weeks. The stock disclosed a move of 0.51% away from 50 day moving average and 0.58% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.78% off 20-day moving average. It has market cap of $603.13M .

Watford Holdings Ltd. (NASDAQ:WTRE) reported that it intends to redeem 6,919,998 of its 8½% Cumulative Redeemable Preference Shares (NASDAQ: WTREP) (the “Preference Shares”), representing 76.34% of its 9,065,200 total issued and outstanding Preference Shares, on August 1, 2019 (the “Redemption Date”). The Preference Shares called for redemption will be redeemed at a redemption price of $25.00 per Preference Share, plus all declared and unpaid dividends, if any, to, but excluding, the Redemption Date, with accumulation of any undeclared dividends on or after June 30, 2019 (the “Redemption Price”).

After the Redemption Date, dividends on the Preference Shares being redeemed will cease to accrue, such Preference Shares will no longer be deemed outstanding and all rights of the holders in respect of such Preference Shares being redeemed will terminate, except for the right to receive the Redemption Price, without interest thereon.

Watford will fund the redemption with the net proceeds from its previously announced offering of $175.0 million aggregate principal amount of its 6.50% Senior Notes due 2029, which closed today. The Preference Shares called for redemption will be redeemed, as to registered shareholders, on a pro rata basis, as nearly as practicable. As specified in the notice of partial redemption, the Preference Shares called for redemption held in book-entry form through the Depository Trust Company (“DTC”) will be redeemed in accordance with DTC’s procedures and Preference Shares called for redemption held through the records of American Stock Transfer & Trust Company (the “Redemption Agent”) will be automatically redeemed by the Redemption Agent. Payment to DTC and the registered holders for the redeemed Preference Shares will be made by the Redemption Agent. The Bermuda based company Watford Holdings Ltd. moved with change of 1.72% to $26.64 with the total traded volume of 123446 shares in recent session versus to an average volume of 129.69K. The stock was observed in the 5 days activity at -2.67%. The one month performance of stock was 2.98%. WTRE’s shares are at 11.00% for the quarter and is now at -1.33% since this point in 2018.  The average volatility for the week and month was at 2.94% and 4.13% respectively. There are 22.64M shares outstanding and 22.56M shares are floated in market.

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