Old Republic finalizes ECM Group acquisition, issues 955K shares at 35% discount
ORI is trading near its 52-week low of $35.6 (15% above the low).
Summary
Old Republic International is finalizing its acquisition of ECM Group, having completed a $24.7 million subscription offering. The company will issue up to 955,903 shares at $25.8025 each, representing a 35% discount to the recent VWAP. This follows earlier SEC filings in May detailing the planned acquisition and associated stock offering. The acquisition is expected to close today, July 1, 2026, upon the filing of ECM's amended charter.
At the time of this announcement, ORI was trading at $40.92 on NYSE in the Finance sector, with a market capitalization of approximately $10B. The 52-week trading range was $35.60 to $46.76. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.