Skyward Specialty launches IPO


Skyward Specialty launches IPO

Skyward Specialty Insurance Group has launched its initial public offering of its common stock.

The offering consists of 4,750,000 shares of common stock offered by Skyward Specialty and 3,750,000 shares of common stock to be sold by certain of Skyward Specialty’s existing stockholders, plus up to an additional 1,275,000 shares to be sold by existing stockholders that the underwriters have the option to purchase.

The initial public offering price is expected to be between $14.00 and $16.00 per share. The shares are expected to trade on the Nasdaq Global Select Market under the ticker symbol "SKWD."

Skyward Specialty said that the principal purposes of the offering are to increase capitalisation and financial flexibility and create a public market for its common stock, thereby enabling access to the public equity markets for the company and its stockholders. Skyward Specialty intends to use a portion of the net proceeds from this offering to make capital contributions to its insurance company subsidiaries to grow its business, using the remainder for general corporate purposes. Skyward Specialty will not receive any proceeds from any sale of shares of common stock by the selling stockholders.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission (SEC). Accordingly, the offering will be made only by means of a prospectus. A copy of the final prospectus related to the offering will be filed with the SEC.

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