Assured Guaranty Ltd. announced Thursday night that it had agreed to sell 38.5 million of common shares at $11 per share to raise $423.5 million it will use to finance its acquisition of Financial Security Assurance Holdings Ltd.

The offering was upsized from the $400 million Assured originally expected. Underwriters have a 30-day option to purchase another 5.775 million shares at the same price.

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