Malibu Life Holdings Limited, a London Stock Exchange-listed insurance holding company focused on the US retirement and annuity market, has raised USD 125 million from a Placing and Open Offer at a price of USD 14.50 per New Ordinary Share.
The offer closed for acceptances on 18 August 2026, as the firm received valid acceptances from qualifying shareholders in respect of 4,419,786 open offer shares under their basic entitlement, and valid applications for 1,430,732 open offer shares under the excess application facility.
Malibu Life received valid applications for 5,850,518 open offer shares, representing 67.86% of the maximum 8,621,748 shares available. Driven by the level of participation, 449,469 conditionally placed shares have been clawed back to satisfy valid applications under the offer; and 2,771,230 conditionally placed shares will be issued pursuant to the placing, explained the firm.
The details of the participation of the investors who subscribed for the new shares in the offer will be disclosed in accordance with the UK Market Abuse Regulation.
Before the offer, Third Point and its affiliates beneficially owned, in aggregate, 7,300,153 existing ordinary shares, or approximately 42.76%.
In a statement, Malibu Life said, “Pursuant to the Third Point Irrevocable Undertaking, Daniel Loeb undertook to, among other things, take up and subscribe in full for 3,686,945 Open Offer Shares to which Third Point and its affiliates are entitled under the Open Offer and apply for 442,095 Excess Open Offer Shares under the Excess Application Facility.”
Due to the increased demand from the offer and to subscribe for conditionally placed shares, Loeb agreed to cancel his application for 442,095 excess open offer shares in order to limit clawback from conditional placees. Third Point and its affiliates will beneficially own 10,987,098 ordinary shares, as the percentage in shares remains the same.
In aggregate, 8,621,748 new ordinary shares will be admitted to listing in the ESCC Category, along with an application made to the London Stock Exchange for the same amount to be admitted to trading on the Main Market of the London Stock Exchange, expected to be effective on 21 August 2026.
The company says that the new ordinary shares will be identical to, and rank pari passu with, the existing ordinary shares. The total issued share capital of Malibu Life following admission to the stock market will be 25,692,810 ordinary shares and 17,128,540 B Shares, while the new shares will trade under ISIN KYG8827C1006.
Jefferies is acting as sole global coordinator and bookrunner in connection with the placing and open offer.
