FORT LAUDERDALE, Fla., April 7, 2016 /PRNewswire/ -- As previously reported, the Board of Directors of Patriot National, Inc. (NYSE: PN) ("Patriot National" or the "Company") formed a committee of independent directors ("Committee") to oversee strategic value creating initiatives. The Committee continues to explore strategic alternatives for the Company to maximize value for shareholders, including a possible sale of the Company. Neither the Committee nor the Board has made a decision to enter into any transaction or other alternative at this time, and there are no assurances that the consideration of strategic alternatives will result in the Company entering into a transaction or other alternative. The Committee has not has not set a timetable for completion of the evaluation process. The exploration of strategic alternatives may be terminated at any time and without notice. The Company does not expect to make any further public announcements regarding these matters unless and until the Committee makes a decision with respect to a specific action or otherwise concludes its review.
Evercore Group LLC is serving as financial advisor to Patriot National in connection with this process.
About Patriot National
Patriot National, Inc. is a national provider of comprehensive technology and outsourcing solutions that help insurance companies and employers mitigate risk, comply with complex regulations and save time and money. Patriot National provides general agency services, technology outsourcing, software solutions, specialty underwriting and policyholder services, claims administration services, self-funded health plans and employment pre-screening services to its insurance carrier clients, employers and other clients. Patriot National is headquartered in Fort Lauderdale, Florida. For more information about Patriot National, please visit www.patnat.com.
Forward Looking Statements
This press release may include statements that may be deemed to be forward-looking statements. Words such as "may," "will," "can, " "should," "likely," "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates," "positioned," "outlook," and similar expressions are used to identify these forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties, and there are important factors that could cause actual results to differ materially from those indicated in these statements, which include the risk factors and related matters contained in our filings with the Securities and Exchange Commission. Although we base these forward-looking statements on assumptions that we believe are reasonable when made, we caution you that forward-looking statements are not guarantees of future performance or events and that results may differ materially from statements made in or suggested by the forward-looking statements contained in this press release. Any forward-looking statement that we may make in this press release speaks only as of the date of such statement, and we undertake no obligation to update any forward-looking statement or to publicly announce the results of any revision to any of those statements to reflect future events or developments.
Investor and Media Contacts:
Director of Investor Relations
Patriot National, Inc.
Julie MacMedan (310) 622-8242
Paige Hart (310) 622-8244
Financial Profiles, Inc.
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SOURCE Patriot National, Inc.