DLA Piper represented the board of directors of Members Mutual Holding Company and its subsidiary Fidelity Life Association in connection with a series of transactions to convert Members Mutual from a mutual company to a stock form company.
As part of the transactions, Vericity Inc. was formed to acquire Members Mutual's shares upon its conversion. Vericity offered its common shares to eligible members of Member's Mutual, policyholders of its subsidiary, Fidelity Life Association, and to directors and officers and eligible employees of Members Mutual in a registered common stock offering. As a result, Vericity is a new public company trading on NASDAQ under the symbol VERY.
The DLA Piper team representing the boards of Members Mutual and Fidelity Life was led by partner Andrew Weil (Chicago), as well as partner Brian Benjet (Philadelphia) and senior counsel Peter Rice (Boston); and included partners Richard Ashley, Stephen Schwab (both of Chicago) and Nathaniel McKitterick (Silicon Valley); and associates Emily McDermott (Chicago), Nathan Heller and Dylan Caplan (both of Philadelphia).