HCI Group Updates Business Address and Phone Number in 8-K Filing

TL;DR

**HCI Group filed an 8-K, but it's just an address and phone number update, nothing major for investors.**

AI Summary

HCI Group, Inc. filed an 8-K on January 10, 2024, reporting an 'Other Events' item from January 5, 2024. This filing primarily serves to update the company's business address to 3802 Coconut Palm Drive, Tampa, Florida 33619, and its telephone number to (813) 405-3600. For investors, this administrative update indicates stable operations and no significant changes to the company's financial health or strategic direction, suggesting business as usual.

Why It Matters

This filing is an administrative update, confirming HCI Group's current contact information and indicating no material operational or financial changes that would impact investors.

Risk Assessment

Risk Level: low — The filing contains only administrative updates and does not disclose any information that would introduce new risks or change the company's operational outlook.

Analyst Insight

Smart investors would note this as a routine administrative update, confirming the company's operational stability without indicating any new financial or strategic developments that require immediate action.

Key Players & Entities

• HCI Group, Inc. (company) — the registrant filing the 8-K
• 3802 Coconut Palm Drive (address) — new principal executive office address
• Tampa, Florida 33619 (address) — new principal executive office city, state, and zip
• (813) 405-3600 (phone_number) — new registrant's telephone number
• January 5, 2024 (date) — date of earliest event reported
• January 10, 2024 (date) — date the 8-K was filed

FAQ

Key Financial Figures

• $24 million — we have elected to redeem the remaining $24 million principal balance of the Notes. As a re
• $1,000 — djustment, is 16.5893 common shares per $1,000 principal amount of the Notes. The comp

Filing Documents

• hci-20240105.htm (8-K) — 57KB
• hci-ex99_1.htm (EX-99.1) — 12KB
• img19850711_0.jpg (GRAPHIC) — 5KB
• 0000950170-24-003653.txt ( ) — 193KB
• hci-20240105.xsd (EX-101.SCH) — 29KB
• hci-20240105_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events On January 5, 2024, we notified the holders of our outstanding 4.25% Convertible Senior Notes due 2037 that we have elected to redeem the remaining $24 million principal balance of the Notes. As a result of this notice the Notes became immediately convertible into HCI common shares. The redemption date is March 15, 2024. The current conversion rate, which is subject to adjustment, is 16.5893 common shares per $1,000 principal amount of the Notes. The company expects all holders will elect to convert their Notes. Such conversions will have no impact on HCI’s diluted share count. In addition, the Notes became convertible per the terms of the Note Indenture which provides that the Notes will become convertible during a quarter when the share price for 20 trading days during the final 30 trading days of the immediately preceding quarter was greater than 130% of the Conversion Price. Our common shares traded above this mark for more than 20 trading days from November 16 to December 29, 2023. The Indenture appears as Exhibit 4.1 to our Form 8-K filed March 3, 2017. The current Conversion Rate for the Notes is 16.5893 common shares per $1,000 principal amount of the Notes, subject to adjustment in the event of certain common dividends are declared. All Note Holders who wish to convert their notes into shares of HCI common stock must provide a Notice of Conversion as provided in Section 13.02(b) of the Indenture.

Forward-Looking Statements

Forward-Looking Statements This Form 8-K may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as anticipate, estimate, expect, intend, plan, confident, prospects and project and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. For example, there can be no assurance that all holders will elect to convert their Notes. Some of these risks and uncertainties are identified in the company's filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects on the company's business, financial condition and results of operations. HCI Group, Inc. disclaims all obligations to update any forward-looking statements. Our corresponding press release appears as Exhibit 99.1 to this form 8-K.

01. Exhibits

Item 9.01. Exhibits. Exhibit 99.1 Press Release SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HCI GROUP, INC. Date: January 10, 2024 By: /s/ James Mark Harmsworth Name: James Mark Harmsworth Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR