WASHINGTON (Reuters) ? Bermuda-based reinsurer Max Re Capital Ltd. said it may periodically sell up to $500 million in debt securities; common, preferred and depositary shares, warrants, contracts and units.

In a shelf registration statement filed yesterday with the US Securities and Exchange Commission, the company said selling shareholders may also periodically sell up to another 5.5 million common shares.

Under a shelf registration, a company may sell securities in one or more separate offerings with the size, price and terms to be determined at the time of sale.

Max Re Capital said it will contribute substantially all of the net proceeds from the offering to its Max Re subsidiary for capital, financial strength and underwriting capacity.