Amwest Insurance Raises $5.02 Million in Stock Sale

Amwest Insurance Group, a Woodland Hills company that specializes in writing bail bonds and other surety bonds, raised $5.02 million with the sale of 550,000 additional shares of common stock.

The offering, which was sold last week for $12 a share, included 450,000 shares sold by the company and 100,000 shares sold by existing stockholders. Gross proceeds from the sale of the company’s stock totaled $5.4 million, of which $378,000 was paid to its underwriters.

Amwest, which now has about 2.5 million total common shares outstanding, said it would use the proceeds to repay bank debt and increase its capital base.