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22 July 2021

Ryan Specialty Group prices its IPO ahead of first day of trading in New York


Ryan Specialty Group Holdings (RSG) has priced its initial public offering (IPO) of nearly 57 million shares.

RSG priced the 56,918,278 shares of its class A common stock at $23.50 per share, before underwriting discounts and commissions, for gross proceeds of nearly $1.34 billion.

The shares will begin trading on the New York Stock Exchange today, with the offering expected to close on July 26, 2021, subject to the satisfaction of customary closing conditions.

RSG also granted the underwriters a 30-day option to purchase up to an additional 8,537,742 shares of its class A common stock at the initial public offering price, less underwriting discounts and commissions.

Upon completion of the IPO, Ryan Specialty will be the sole managing member of RSG, with exclusive rights to operate and control all of its business and affairs. Ryan Specialty will receive net proceeds of approximately $1.26 billion, after deducting underwriting discounts and commissions and estimated expenses.

It will use the proceeds to acquire newly issued units of RSG and the equity of an entity through which an affiliate of Onex Corporation holds its preferred unit interest in RSG.


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13 July 2021   Ryan Specialty Group Holdings has launched an initial public offering of its class A common stock.

More on this story

article
13 July 2021   Ryan Specialty Group Holdings has launched an initial public offering of its class A common stock.