LA JOLLA, Calif., Nov. 20 /PRNewswire-FirstCall/ -- PICO Holdings, Inc. (NASDAQ:PICO) announced that it has filed a universal shelf registration statement with the United States Securities and Exchange Commission (SEC) for the periodic offering and sale of up to US $400 million of debt securities, common stock and warrants or any combination thereof, from time to time in one or more offerings, after the SEC declares the registration statement effective.
At the time of any such offering, PICO would establish the terms, including the pricing of any such registered securities, and describe in its filed prospectus or prospectus supplement how the proceeds from the sale of any such securities would be used. While PICO has no current plans for the offer or sale of any such securities under the universal shelf registration statement, the universal shelf registration provides PICO with increased flexibility and more control over the timing and size of any such financing in response to both market and strategic opportunities.
A registration statement 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 does not constitute such an offer to sell or a solicitation to buy, and any offering may be made only through a prospectus and a related prospectus supplement. The securities cannot be sold in any state where an offer, solicitation or sale would be unlawful prior to registration or before qualification under the state's securities laws.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This press release contains "forward-looking statements", that is statements related to future, not past, events. In this context, forward- looking statements often address PICO's current expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", or "will". By their nature, forward-looking statements address matters that are, to different degrees, uncertain. These uncertainties may cause PICO's actual future results to be materially different than those expressed in its forward-looking statements. PICO does not undertake to update its forward-looking statements and undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Such forward-looking statements are subject to a number of risks, uncertainties, and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, PICO's ability to successfully cause the universal shelf registration statement to be declared effective by the SEC. Other risks and uncertainties are detailed from time to time in the Company's filings with the SEC, including those described under the heading "Risk Factors" in PICO's annual report on Form 10- K for the year ended December 31, 2006 and the quarterly report on Form 10-Q for the nine months ended September 30, 2007. DATASOURCE: PICO Holdings, Inc.
CONTACT: Damian C. Georgino, Executive Vice President of PICO Holdings, Inc., +1-858-456-6022 Web site: http://www.picoholdings.com/
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