SiriusPoint Ltd, the Bermudian-headquartered global specialty insurer and reinsurer, has announced the pricing of its previously announced registered secondary offering by entities associated with Daniel S. Loeb, who sits on the company’s board of directors.

The company said an aggregate of 4,106,631 common shares are offered at a price to the public of $14 per share.

SiriusPoint shares closed on the New York Stock Exchange today at $14.97 per share, up 38 cents (2.6 per cent) on the day.

The offering is expected to close tomorrow, subject to the satisfaction of customary closing conditions.

SiriusPoint has agreed to repurchase an aggregate of 500,000 of the common shares being offered in the offering at the public offering price.

The company said it will cancel the 500,000 common shares it repurchases in the offering.

A SiriusPoint spokesman said: “Immediately following the completion of the offering and our previously announced repurchase of all of the common shares and warrants currently held by CM Bermuda, it is expected that the Loeb entities will own approximately 9.54 per cent of SiriusPoint’s issued and outstanding common shares.

“Under the terms of the transaction, the remaining shares owned by the Loeb entities will be subject to a 90-day lock-up agreement with the sole book-running manager.”

Jefferies is acting as the sole book running manager for the offering.