TypTap valued at $850mn as Centerbridge invests $100mn
Centerbridge is to pay $100mn for an 11.75% stake in HCI Group’s TypTap in a deal which values the InsurTech at $850mn.
The buyout firm will receive preferred shares in the InsurTech, which will convert to common shares on a future IPO, as well as a four-year warrant to buy 750,000 HCI shares at $54.40
Uncover exclusive insights tailored for insurance leaders
- Stay Informed: Access exclusive industry insights
- Gain a competitive advantage: Hear first about tactical developments
- Make better decisions: Understand market dynamics in crucial lines of business