In a formal press release, insurance holding company FedNat Holding Company announced on March 5 that it has closed its private offering of Senior Unsecured Notes due 2029. Miami partner Nina Gordon, and a team of Firm attorneys and paralegals from Miami, Fla., Washington, D.C., and Jacksonville, Fla., acted as legal counsel to FedNat. Associate Franco Furmanski assisted Gordon with the offering.

The 2029 notes have been offered and sold to qualified institutional buyers and institutional accredited investors. FedNat is using a portion of the net proceeds to redeem its outstanding senior notes due 2022 and 2027. The remaining net proceeds will be used for the cash component of the consideration payable in connection with FedNat’s previously announced pending purchase of Maison Insurance Company, Maison Managers, Inc., and ClaimCor LLC, from 1347 Property Insurance Holdings, Inc., (NASDAQ: PIH) (the “PIH Acquisition”), and general corporate purposes.

Raymond James & Associates, Inc. acted as placement agent in connection with the offering of the 2029 Notes.