Benzinga | Sep 13, 2021 07:52AM EDT

Genworth Announces Amendment Of Registration Statement For Proposed Initial Public Offering By Enact

Genworth Financial, Inc. (NYSE:GNW) (Genworth, the Company) today announced that its wholly owned subsidiary, Enact Holdings, Inc. (Enact), has amended its registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the SEC) in connection with its proposed initial public offering. In that filing, Enact states the following regarding the use of proceeds:

As selling stockholder, Genworth Holdings, Inc. (GHI) will receive all net proceeds from the sale of shares of Enact's common stock, including from any exercise by the underwriters of their option to purchase additional shares. GHI will bear the underwriting discount and pay or reimburse Enact for certain expenses attributable to the sale of Enact's common stock, including accounting fees and certain legal fees. GHI currently intends to use net proceeds to repay its Promissory Note with AXA and partially repay other outstanding indebtedness.

Copies of the preliminary prospectus may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by email at prospectus-ny@ny.email.gs.com, or by telephone at (866) 471-2526; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at prospectus-eq_fi@jpmchase.com, or by telephone at 1-866-803-9204.

A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.