CII Financial Gets SEC Approval for Stock Sale

CII Financial, a Burbank workers compensation insurance company, said the Securities and Exchange Commission approved its previously announced plan to sell up to 1.73 million shares of common stock.

CII said the shares would be sold for $14 per share, raising up to $22 million. The company will use the money to increase the insurance business of its California Indemnity Insurance Co. and Commind Insurance Co. subsidiaries.