SiriusPoint Announces Secondary Offering of 4,106,631 Common Shares by Entities Associated with Daniel S. Loeb and Potential Repurchase of up to 2,000,000 Common Shares by SiriusPoint

Core Viewpoint - SiriusPoint Ltd. announced a secondary offering of 4,106,631 common shares by entities associated with Daniel S. Loeb, with the company intending to repurchase up to 2,000,000 shares at the public offering price [1][2]. Group 1: Offering Details - The offering consists of 4,106,631 common shares being sold by the Loeb Entities [1]. - SiriusPoint plans to repurchase up to 2,000,000 of the shares being offered, which will be canceled upon repurchase [2]. - Following the offering and the repurchase of shares from CM Bermuda, the Loeb Entities are expected to own approximately 9.67% of SiriusPoint's outstanding shares, an increase from 9.4% [3]. Group 2: Transaction Terms - The remaining shares owned by the Loeb Entities will be subject to a 90-day lock-up agreement [4]. - Jefferies is acting as the sole bookrunning manager for the proposed offering [4]. Group 3: Company Overview - SiriusPoint is a global underwriter of insurance and reinsurance, headquartered in Bermuda, with additional offices in New York, London, and Stockholm [6]. - The company has over $2.6 billion in total capital and holds a financial strength rating of A- from AM Best, S&P, and Fitch, and A3 from Moody's [6].