Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co. Enters Equity Distribution Agreement with Morgan Stanley
Summary
On March 14, 2024, Arthur J. Gallagher & Co. announced an equity distribution agreement with Morgan Stanley to offer and sell up to 3,000,000 shares of its common stock through at-the-market offerings. The agreement replaces the company's prior equity distribution agreement, which had no sales, and extends the at-the-market program by transferring it to a shelf registration statement filed on February 12, 2024. The agreement allows the company to sell shares at prevailing market prices, with Morgan Stanley receiving a commission of up to 1.25% of the gross sales price. Neither party is obligated to buy or sell any shares, and the company agreed to indemnify Morgan Stanley against certain liabilities.
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About Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co. is a global insurance brokerage and risk management services firm. The company's primary function is to assist clients in identifying, managing, and mitigating various risks through comprehensive insurance solutions. A significant player in the financial industry, Arthur J. Gallagher & Co. operates in multiple sectors, providing essential services to industries such as healthcare, construction, public entities, and more. The firm offers a wide range of insurance products, including property and casualty, workers' compensation, and employee benefits, tailoring strategies to fit the unique needs of each client. Founded in 1927 and headquartered in Rolling Meadows, Illinois, it has earned a reputation for innovation in risk management and customer service. The company’s extensive global network and experienced team of professionals enable it to navigate complex insurance markets effectively, making it a key component in the financial market's risk management sector.
Official SEC Documents
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