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Malibu Life raises $125 million in placing and open offer
The offer priced shares at $14.50 each and closed for acceptances on August 18, 2026, with valid applications covering 67.9% of the maximum shares available.
Malibu Life Holdings Limited, a London Stock Exchange-listed insurance holding company focused on the US retirement and annuity market, raised USD 125 million through a placing and open offer at USD 14.50 per New Ordinary Share, according to Reinsurance News.
The open offer closed for acceptances on August 18, 2026. The company received valid acceptances for 4,419,786 open offer shares under basic entitlement and valid applications for 1,430,732 shares under the excess application facility, for total valid applications of 5,850,518 shares, representing 67.86% of the maximum 8,621,748 shares available.
Reinsurance News reports that, based on participation levels, 449,469 conditionally placed shares were clawed back to satisfy valid applications under the offer, while 2,771,230 conditionally placed shares will be issued via the placing. The company said it will admit 8,621,748 new ordinary shares to the ESCC Category, with admission to trading on the London Stock Exchange’s Main Market expected to be effective on August 21, 2026.
Before the offer, Third Point and its affiliates collectively held 7,300,153 ordinary shares, about 42.76%. To limit clawback from conditionally placed shares, Loeb agreed to cancel an application for 442,095 excess open offer shares, and after the transaction Third Point and its affiliates are expected to beneficially own 10,987,098 ordinary shares, while the company expects total issued share capital of 25,692,810 ordinary shares and 17,128,540 B Shares following admission.