IPOs
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The carrier is pricing shares at the upper end of the range announced this month. -
The aggregate gross proceeds from the offering are expected to be $113.3mn.
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The Floridian is the third insurance company to go public in 2025.
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The offering comes after Acrisure’s $2.1bn convertible pref share raise.
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The company filed its S-1 in March, with a 2024 CoR of 93.9%.
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A week ago, this publication revealed that Slide was pressing ahead with its IPO plans with an S-1 filing.
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Acrisure followed the recaps of Hub International and Broadstreet Partners.
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This publication reported earlier today that the S-1 filing was imminent.
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This publication reported earlier this year that the carrier is targeting a $250mn-$350mn raise.
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The latest E&S player planning to IPO remains a “show me” story.
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Permanence and independence of a public company would be valuable, he told this publication.
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The company completed its upsized IPO last week and traded up to 1.3x book.
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