Imogene Opton

Atlas Financial Holdings Announces Unaudited Third Quarter 2022 Financial Results

Retrieved on: 
Thursday, November 10, 2022
Finance, Professional Services, General Automotive, Automotive, Insurance, U.S. Securities and Exchange Commission, OTC, Risk, Imogene Opton, Technology, Sale, SEC, Annual report, Solution, Orientation, Company, MGA, Growth, Security (finance), SEC filing, Insurance, Industry, COVID-19, Income, Taxicab, Reinsurance, Risk management, Animal

Atlas Financial Holdings, Inc. (OTC: AFHIF) (we, us, our, Atlas or the Company), a specialty insurance business with a niche market focus on the light commercial automobile sector, reported today its unaudited financial results for the third quarter ended September 30, 2022.

Key Points: 
  • Atlas Financial Holdings, Inc. (OTC: AFHIF) (we, us, our, Atlas or the Company), a specialty insurance business with a niche market focus on the light commercial automobile sector, reported today its unaudited financial results for the third quarter ended September 30, 2022.
  • Total revenue decreased 40.0% to $1.1 million for the three months ended September 30, 2022, an increase of $100,000 as compared to the second quarter 2022.
  • Loss from operating activities was $3.3 million compared to a loss from operating activities of $3.3 million, a $1.3 million improvement from the second quarter 2022.
  • This compares to a net loss of $5.0 million in the second quarter 2022.

Atlas Financial Holdings Announces Appointment of Independent Directors and Confirms Court Approval of Previously Announced Regulatory Settlement

Retrieved on: 
Tuesday, August 30, 2022
Professional Services, Insurance, Finance, Technology, OTC, Securities Exchange Act of 1934, Survival, High Court of Justice, Insurance, Solution, Financial services, Risk, Superintendent, Company, Orientation, Circuit court, Settlement, Imogene Opton, New York State Department of Financial Services, Advisory Council, Circuit Court of Cook County, Board of directors, Supreme court, Howard County Department of Fire and Rescue Services, Tobacco Master Settlement Agreement, Liquidator, Illinois Department of Transportation, Annual report, Industry, National Infrastructure Advisory Council, Illinois Department of Insurance, Management

Following these changes, a majority of the Atlas Board is independent.

Key Points: 
  • Following these changes, a majority of the Atlas Board is independent.
  • The Supreme Court of the State of New York, New York County had previously approved the agreement.
  • Having received both supervising court approvals, the Settlement Agreement became effective as of August 25, 2022, pursuant to its terms.
  • Scott D. Wollney, Atlas President and Chief Executive Officer, said, I am pleased to welcome Mr. Holliday and Mr. Scheiwe to Atlas Board of Directors.

Atlas Financial Holdings Announces Expansion of Credit Facility and Provides Business Update

Retrieved on: 
Wednesday, June 15, 2022
Professional Services, Insurance, Finance, Solution, Orientation, Credit, Industry, Security (finance), Senior, OTC Markets Group, Annual report, Technology, Convertible, Primary Dealer Credit Facility, Insurance, OTC, U.S. Securities and Exchange Commission, Imogene Opton, Company, Transport, Movement, Line of credit, Risk, Sumathi Best Television Current Reporting Award, Renewable energy, Bank

Atlas Financial Holdings, Inc. (OTC: AFHIQ) (we, us, our, Atlas or the Company) today announced the expansion of the Companys existing Convertible Senior Secured Delayed-Draw Credit Agreement (Credit Facility), adding new lenders and an additional $3.2 million of funding.

Key Points: 
  • Atlas Financial Holdings, Inc. (OTC: AFHIQ) (we, us, our, Atlas or the Company) today announced the expansion of the Companys existing Convertible Senior Secured Delayed-Draw Credit Agreement (Credit Facility), adding new lenders and an additional $3.2 million of funding.
  • The maturity date of the Credit Facility was also extended to June 30, 2024.
  • Scott D. Wollney, Atlas President and Chief Executive Officer, said, We appreciate the continuing support from current lenders coupled with the addition of new ones.
  • As we do so, we believe the expansion of our Credit Facility provides important liquidity to enable us to retain valuable infrastructure and focus on the profitable growth of our business and expansion of our product offerings to accommodate the evolving specialty business segments we target.

Atlas Financial Holdings Provides Bond Exchange Update

Retrieved on: 
Tuesday, March 1, 2022
Other Professional Services, Professional Services, Insurance, Finance, Note, Companies Act, Insurance, Chapter 15, Title 11, United States Code, City, Company, Risk, Imogene Opton, EBITDA, Annual report, United States bankruptcy court, COVID-19, Industry, Recognition, OTC, Orientation, News & Notes, European Enforcement Order, Part, MGA, Cayman Islands, Bankruptcy, Enforcement, Technology, Bankruptcy Code, Solution, Scheme, CEO, Policy, Ridesharing company, Risk management

Pursuant to the Scheme, the Notes will be canceled and exchanged for new securities (the New Notes) on or around April 26, 2022.

Key Points: 
  • Pursuant to the Scheme, the Notes will be canceled and exchanged for new securities (the New Notes) on or around April 26, 2022.
  • The filing of the Recognition Petition will be made in accordance with the previously disclosed Restructuring Support Agreement (RSA).
  • We are encouraged by the support from our stakeholders demonstrated through the recent outcome of our bond exchange and appreciate their confidence in our strategic plan.
  • This release includes forward-looking statements regarding Atlas and its insurance subsidiaries and businesses.