AmTrust Raises $300 Million in Private Stock Placement

AmTrust Financial Services Inc. has raised $300 million through the sale of 24 million shares of common stock, a transaction that closed on Friday, the company said. The purchasers in the private placement were family members of AmTrust Chairman and Chief Executive Officer Barry Zyskind and of George Karfunkel, a company director, AmTrust said in a filing with the U.S. Securities and Exchange Commission. The purchase price was $12.45 per share, the stock’s closing price on May 25. AmTrust said the proceeds will be used to support its insurance subsidiaries’ financial strengt...