MGIC Investment Corporation Plans Special Shareholders Meeting and Files Shelf
MILWAUKEE, May 10, 2013
MILWAUKEE, May 10, 2013 /PRNewswire/ -- MGIC Investment Corporation (NYSE:
MTG, the "Company") commented on two filings it made earlier today with the
SEC. The first filing is preliminary proxy material regarding a Special
Shareholders Meeting expected to be held on Thursday, June 27, 2013. The
purpose of the meeting is to seek approval of an increase in the number of
authorized shares of Common Stock. The Company's recent sale of Common Stock
and convertible debt reduced the number of shares of Common Stock available
for future issuance.
The second filing is a Shelf Registration Statement, which will allow the
Company to issue various types of securities, including debt, Common Stock and
preferred stock, from time to time. This registration statement replaces the
Company's prior Shelf Registration Statement that expired on April 20, 2013.
The Company does not have any plans to issue Common Stock or other securities,
except for the possible issuance of shares under existing incentive plans for
directors and employees. Increasing the authorized shares of Common Stock and
filing the shelf registration statement are intended to give the Company
greater flexibility to issue securities in the future should conditions
warrant. The Company is not required to offer or sell any securities under the
Shelf Registration statement.
This press release shall not constitute an offer to sell any securities.
In connection with the Special Shareholders Meeting to be held with respect to
the proposed amendment to the Company's Articles of Incorporation to increase
the number of authorized shares of Common Stock, the Company has filed with
the SEC a preliminary proxy statement and plans to file a definitive proxy
statement and other relevant materials. The definitive proxy statement (when
available) will be mailed to the Company's shareholders. INVESTORS AND
SECURITY HOLDERS ARE ADVISED TO READ THE PROXY STATEMENT WHEN IT BECOMES
AVAILABLE BEFORE MAKING ANY VOTING DECISION WITH RESPECT TO THE PROPOSED
AMENDMENT TO THE COMPANY'S ARTICLES OF INCORPORATION BECAUSE IT WILL CONTAIN
IMPORTANT INFORMATION. Investors and security holders will be able to obtain a
free copy of the proxy statement (when available) and other relevant documents
filed by the Company with the SEC from the SEC's website at
http://www.sec.gov. In addition, investors and security holders may obtain
free copies of the documents filed with the SEC at the Company's website at
The Company and its directors, executive officers and certain other employees
may be deemed to be participants in the solicitation of proxies of the
Company's shareholders in connection with the proposed amendment to the
Company's Articles of Incorporation.
MGIC (www.mgic.com), the principal subsidiary of MGIC Investment Corporation,
is the nation's largest private mortgage insurer as measured by $159.5 billion
primary insurance in force covering 1 million mortgages as of March 31, 2013.
MGIC serves lenders throughout the United States, Puerto Rico, and other
locations helping families achieve homeownership sooner by making affordable
low-down-payment mortgages a reality.
From time to time MGIC Investment Corporation releases important information
via postings on its corporate website without making any other disclosure and
intends to continue to do so in the future. Investors and other interested
parties are encouraged to enroll to receive automatic email alerts and Really
Simple Syndication (RSS) feeds regarding new postings. Enrollment information
can be found at http://mtg.mgic.comunder Investor Information.
SOURCE MGIC Investment Corporation
Contact: Investor Contact: Michael J. Zimmerman, Investor Relations, (414)
347-6596, email@example.com, or Media Contact: Katie Monfre, Corporate
Communications, (414) 347-2650, firstname.lastname@example.org
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