Navigation Links
North American Insurance Leaders, Inc. Receives an Estimate of Deep South 2007 Governing EBITDA
Date:3/21/2008

NEW YORK, March 21 /PRNewswire-FirstCall/ -- North American Insurance Leaders, Inc. (Amex: NAO), today announced that it has received an estimate from the Deep South Companies ("Deep South") for 2007 Governing EBITDA that could be as high as $21,513,716. This calculation is subject to review by NAO upon the receipt of audited 2007 financial statements. Based upon our preliminary review, it appears that the Governing EBITDA will fall within a range from $18,838,529 to $21,513,716. The resulting initial purchase price would therefore range between $111,900,865 and $125,000,000 including the issuance of shares to the seller ranging from 2,459,921 to 2,788,221 and a maximum annual payout under the two year earnout between $31,549,568 and $25,000,000.

In addition, NAO has received from Deep South the unaudited written premium results for the first two months of 2008. Written premiums were $22,164,208 in January, $1,452,363 under budget, and $15,552,192 in February, $2,591,958 under budget.

Additional Information

In connection with its pending acquisition of Deep South, North American Insurance Leaders, Inc. filed a definitive proxy statement with the SEC on January 31, 2008. STOCKHOLDERS OF NORTH AMERICAN INSURANCE LEADERS, INC. ARE ADVISED TO READ THE DEFINITIVE PROXY STATEMENT AND ANY AMENDMENTS OR SUPPLEMENTS THERETO BECAUSE THEY CONTAIN IMPORTANT INFORMATION. NAO files reports, proxy statements and other information with the SEC as required by the Exchange Act. You may read and copy such reports, proxy statements and other information filed by NAO with the SEC at the SEC's public reference room located at 100 F Street, N.E., Washington, D.C. 20549-1004. NAO also files its reports, proxy statements and other information electronically with the SEC. You may access information on NAO at the SEC web site at http://www.sec.gov.

About North American Insurance Leaders, Inc.

North American Insurance Leaders, Inc. is a special purpose acquisition corporation focused on acquiring businesses in the insurance or insurance related industry. NAO raised net proceeds of approximately $110 million through its initial public offering in March 2006. On August 10, 2007, NAO announced the signing of a definitive agreement to acquire the businesses of Deep South Holding, L.P.

About Deep South

Deep South is a leading managing general agency distributing various lines of commercial property and casualty insurance. Deep South operates a full service managing general agency that underwrites and manages various lines of commercial property and casualty insurance, including commercial auto coverages, which it markets to independent retail insurance agents. For additional information on Deep South, please visit its website at http://www.deep-south.com.


'/>"/>
SOURCE North American Insurance Leaders, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Novo Nordisk Appoints New Leader of North American Business
2. Health IT Event Draws Experts to the Pacific Northwest
3. Revolutionary HD Surgical Footage from North Shore-LIJ Surgeon to be Broadcast for the First Time on ABCs 20/20, National Geographic Channel
4. Ultrasonix Adds Global Medical Imaging Into Its North American Sales Force
5. Evanston Northwestern Healthcare Wins Award For Patient Safety
6. Physician Team at Northwestern Memorial Performs Rare Oral Gallbladder Removal
7. Northstar Healthcare Announces Option to Purchase a 60% Interest in The Palladium for Surgery - Dallas
8. Dermatologists identify North Texas leishmaniasis outbreak
9. Radiation Therapy Services Acquires North Carolina Facility
10. Northern Michigan Regional Health System Named a Working Mother 100 Best Company - 2007 by Working Mother Magazine
11. NPS Pharmaceuticals and Nycomed Announce Licensing Agreement for GATTEX(TM) in Territories Outside North America
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/26/2017)... ... ... Six greater Bay Area roller derby leagues are partnering with Brown Paper Tickets and the ... of blood drives in California, beginning July 29. Make ‘Em Bleed roller derby blood drives ... to have helped to save up to 2700 lives. , “The Make ‘Em Bleed blood ...
(Date:7/26/2017)... ... July 26, 2017 , ... ... (ISPE) will host its 2017 Process Validation and Process Validation Statistics ... comprehensive solutions to process validation lifecycle challenges faced by process validation professionals ...
(Date:7/26/2017)... ... July 26, 2017 , ... A global ... in Jupiter. The state of the art center will provide advanced surgical ... a goal of providing heart patients longer lives. , North American Veterinary Heart ...
(Date:7/26/2017)... , ... July 26, 2017 , ... ... innovative specialty pharmacies, has released an updated version of the HCV Treatment Path ... for treating chronic hepatitis C virus (HCV) infection. All of the latest HCV ...
(Date:7/25/2017)... (PRWEB) , ... July 25, 2017 , ... ... to announce the launch of their partnership to provide the Pharmacist eCare ... first pharmacy-focused platform in the country with the ability to develop the Pharmacist ...
Breaking Medicine News(10 mins):
(Date:7/21/2017)... EDMONTON, Alberta , July 21, 2017 ... the University of Alberta in Edmonton, ... Nature,s partner journal, Schizophrenia 1 , demonstrating that ... of schizophrenia with 74% accuracy. This retrospective analysis ... specific symptoms in schizophrenia patients with significant correlation, ...
(Date:7/20/2017)... PAUL, Minn. , July 20, 2017  Prime Therapeutics ... Jonathan Gavras , M.D., following today,s Institute for Clinical ... report on the effectiveness and value of abuse-deterrent ... manager on the policy roundtable at the meeting. ... is not a material cost benefit to the use of ...
(Date:7/14/2017)... , July 14, 2017 Endo International plc (NASDAQ: ... Tuesday, August 8, 2017.  Members of its senior management team will ... open at 8:30 a.m. ET. The dial-in number ... 497-0462, International (678) 509-7598, and the passcode is 45397076. Please dial ... A replay of the call will ...
Breaking Medicine Technology: