Private Equity firm Warburg Pincus has agreed to sell 2.5 million shares of Primerica (NYSE: PRI) in an underwritten public offering expected to close February 15, 2013. Citigroup is acting as book-running manager for the transaction. All of the shares are being sold by Warburg Pincus, and the firm will receive all net proceeds from the offering. Based in Duluth, GA, Primerica distributes financial products to middle-income families in North America. Warburg Pincus bought a minority stake in the company in 2010, buying 16.4 million shares for about $230 million. Once the offering is complete, it will retain approximately 4.4% of the company's outstanding common stock.