Lincoln Financial (LNC) said Wednesday it received an $825 million strategic growth investment from Bain Capital.
Under the terms of the deal, expected to close in H2, Bain Capital will acquire a 9.9% stake in Lincoln Financial, the company said.
As part of the all-cash agreement, Lincoln will sell about 18.8 million of its common shares for $44 per share, a 25% premium over its 30-day volume-weighted average price as of April 8, the company said.
Lincoln and Bain Capital have also entered a 10-year, non-exclusive strategic investment management relationship, with Bain serving as an investment manager for various asset classes, including private credit, structured assets, mortgage loans and private equity, the company said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.