UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-C
REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ
INTERDEALER QUOTATION SYSTEM
Filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
and Rule 13a-17 or 15d-17 thereunder
The Seibels Bruce Group, Inc.
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(Exact name of issuer as specified in charter)
1501 Lady Street, Columbia, SC 29201
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(Address of principal executive offices)
Issuer's telephone number, including area code (803) 748-2000
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I. CHANGE IN NUMBER OF SHARES OUTSTANDING
Indicate any change (increase or decrease) of 5% or more in the number of shares
outstanding:
1. Title of security Common stock, par value $1.00 per share
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2. Number of shares outstanding before the change 18,397,686
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3. Number of shares outstanding after the change 24,647,686
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4. Effective date of change September 26, 1996
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5. Method of change:
Specify method (such as merger, acquisition, exchange, distribution, stock
split, reverse split, acquisition of stock for treasury, etc.)
Distribution
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Give brief description of transaction : The Company issued 6,250,000 shares of
its authorized common stock to a group of investors for a price of $1.00 per
share. The investment group was also granted options to purchase an
additional 3.125 million shares priced at the higher of $1.50 per share or
the book value at the date of exercise and an additional 3.125 million shares
at an exercise price of the greater of $2.00 or the book value at the date
of excercise, expiring at the end of years 1998 and 2000, respectively.
II. CHANGE IN NAME OF ISSUER
1. Name prior to change ---------------------------------------------------
2. Name after change -----------------------------------------------------
3. Effective date of charter amendment changing name ----------------------
4. Date of shareholder approval of change, if required -------------------
Date October 09, 1996 /s/ John A. Weitzel
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Chief Financial Officer
(Officer's signature and title)
SEC 1811 (5/91)
