Stock Offering: Fortis Corp., headquartered in Irvine,...

Stock Offering: Fortis Corp., headquartered in Irvine, said it has filed a registration statement with the Securities and Exchange Commission for an initial public offering of 1.5 million shares of common stock. The lead underwriters will be Dain Bosworth Inc. and Montgomery Securities. Proceeds from the offering will be used to redeem all of Fortis’ outstanding Series A Preferred Stock held by North Star Universal Inc., supplement working capital to expand the company’s operations and for other general corporate purposes. Fortis, a subsidiary of Minneapolis-based North Star Universal, provides medical cost containment and managed care services related to workers’ compensation.