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National General Holdings Corp. Announces Pricing of Its Concurrent Offerings of Common Stock and 7.625% Subordinated Notes Due 2055

NEW YORK, Aug. 12, 2015 (GLOBE NEWSWIRE) -- National General Holdings Corp. (Nasdaq:NGHC) (the "Company" or "National General") today announced the pricing of its previously announced underwritten public offerings of 10,000,000 shares of its common stock and $100 million aggregate principal amount of its 7.625% Subordinated Notes due 2055. The common stock offering was priced to the public at $19.00 per share, resulting in expected net proceeds of $183.35 million, after deducting underwriting discounts, but before expenses. The Company expects the net proceeds from the Subordinated Notes offering will be approximately $96.85 million, after deducting underwriting discounts, but before expenses.

The Company has granted the underwriters in the common stock offering a 30-day option to purchase up to an additional 1,500,000 shares of the common stock and the underwriters in the Subordinated Notes offering a 30-day over-allotment option to purchase up to an additional $15 million aggregate principal amount of the Subordinated Notes on the same terms and conditions.

The Company expects the offerings to close on August 18, 2015, subject to customary closing conditions. The common stock of the Company is listed on the NASDAQ Global Market under the symbol "NGHC." The Company has applied to list the Subordinated Notes for trading on the NASDAQ Global Market under the symbol "NGHCZ," and trading is expected to commence within 30 days of the closing of the Subordinated Notes offering. The Company expects to use the net proceeds from the offerings for general corporate purposes, including strategic acquisitions and supporting its current and future policy writings.

Morgan Stanley & Co. LLC is acting as sole book-running manager for the common stock offering, and FBR Capital Markets & Co., JMP Securities LLC, Keefe, Bruyette & Woods, Inc. and William Blair & Company, L.L.C. are acting as co-managers. Morgan Stanley & Co. LLC, UBS Securities LLC and Keefe, Bruyette & Woods, Inc. are acting as joint book-running managers for the Subordinated Notes offering, and JMP Securities LLC is acting as co-manager.

This announcement does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor will there be any offer or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The securities may be offered only by means of a prospectus supplement and accompanying base prospectus. You may obtain a copy of either prospectus supplement and accompanying prospectus for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying prospectus relating to the common stock offering can be obtained by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, NY 10014, and copies of the prospectus supplement and accompanying prospectus relating to the Subordinated Notes offering can be obtained by contacting: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, NY 10014; UBS Securities LLC, 1285 Avenue of the Americas, New York, NY 10019, Attention: Prospectus Specialist, (888) 827-7275; or Keefe, Bruyette & Woods, Inc., 787 Seventh Avenue, Fourth Floor, New York, NY 10019, Attn: Capital Markets, (800) 966-1559.

About National General Holdings Corp.

National General Holdings Corp., headquartered in New York City, is a specialty personal lines insurance holding company. National General traces its roots to 1939, has a financial strength rating of A- (excellent) from A.M. Best, and provides personal and commercial automobile, homeowners, umbrella, recreational vehicle, motorcycle, supplemental health, and other niche insurance products.

Forward Looking Statements

This news release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. Forward-looking statements can generally be identified by the use of forward-looking terminology, such as "may," "will," "plan," "expect," "project," "intend," "estimate," "anticipate" and "believe" or their variations or similar terminology. There can be no assurance that actual developments will be those anticipated by the Company. Actual results may differ materially from those expressed or implied in these statements as a result of significant risks and uncertainties, including, but not limited to, non-receipt of expected payments from insureds or reinsurers, changes in interest rates, a downgrade in the financial strength ratings of our insurance subsidiaries, the effect of the performance of financial markets on our investment portfolio, our ability to accurately underwrite and price our products and to maintain and establish accurate loss reserves, estimates of the fair value of life settlement contracts, development of claims and the effect on loss reserves, accuracy in projecting loss reserves, the cost and availability of reinsurance coverage, the effects of emerging claim and coverage issues, changes in the demand for our products, our degree of success in integrating acquired businesses, the effect of general economic conditions, state and federal legislation, regulations and regulatory investigations into industry practices, risks associated with conducting business outside the United States, developments relating to existing agreements, disruptions to our business relationships with AmTrust Financial Services, Inc., ACP Re Ltd, Maiden Holdings, Ltd. or third party agencies, breaches in data security or other disruptions involving our technology, heightened competition, changes in pricing environments, changes in asset valuations and failure to consummate the transactions described in this press release. The forward-looking statements contained in this news release are made only as of the date of this release. The Company undertakes no obligation to publicly update any forward-looking statement except as may be required by law. Additional information about these risks and uncertainties, as well as others that may cause actual results to differ materially from those projected is contained in the Company's filings with the Securities and Exchange Commission.

CONTACT: Investor Contact Dean Evans Director of Investor Relations Phone: 212-380-9462 Email: Dean.Evans@NGIC.com

Source:National General Holdings Corp.