NMI Holdings, Inc. Announces Pricing of Public Offering of Common Stock

EMERYVILLE, Calif., Feb. 27, 2018 – NMI Holdings, Inc. (Nasdaq:NMIH) (the “Company”) today announced the pricing of its previously announced underwritten registered public offering of 3,700,000 shares of its Class A common stock, par value $0.01 per share, at a public offering price of $19.75 per share. The sale of the shares of Class A common stock is expected to close March 2, 2018, subject to customary closing conditions. The Company has granted the underwriters a 30-day option to purchase up to an additional 555,000 shares of its Class A common stock at the public offering price, less underwriting discounts and commissions.

The Company expects net proceeds of this offering, after deducting underwriting discounts and commissions and before expenses, of approximately $69.4 million, or approximately $79.8 million if the underwriters exercise their option to purchase additional shares in full.

J.P. Morgan Securities LLC, Deutsche Bank Securities Inc. and RBC Capital Markets, LLC are acting as joint book-running managers. SunTrust Robinson Humphrey, Inc. is acting as lead manager. Dowling & Partners Securities, LLC, Keefe, Bruyette & Woods, Inc. and Zelman Partners LLC are acting as co-managers.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The shares are being offered pursuant to an automatically effective shelf registration statement (including a base prospectus) that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on February 26, 2018. The final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC website at www.sec.gov.

The offering is being made only by means of a prospectus supplement and accompanying base prospectus, copies of which may be obtained from: J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717. Deutsche Bank Securities Inc. at 60 Wall Street, New York, New York, and RBC Capital Markets, LLC, Attn: Equity Syndicate, 200 Vesey Street, New York, NY 10281.

About NMI Holdings
NMI Holdings, Inc. (NASDAQ:NMIH) is the parent company of National Mortgage Insurance Corporation (National MI), a U.S.-based, private mortgage insurance company enabling low down payment borrowers to realize home ownership while protecting lenders and investors against losses related to a borrower’s default.

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