Skyward Specialty registers for proposed IPO

The Westaim Corporation has announced that Skyward Specialty Insurance Group has filed a registration statement on Form S-1 with the US Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of shares of its common stock.

Westaim is a significant investor in Skyward Specialty.

The number of Shares to be offered and the price range for the IPO have not yet been determined. Skyward Specialty plans to list the Shares on the Nasdaq Global Select Market under the ticker symbol “SKWD”

Barclays Capital and Keefe, Bruyette & Woods are acting as joint lead book-running managers for the IPO. Piper Sandler & Co., JMP Securities, Truist Securites and Raymond James & Associates are acting as joint book-running managers for the IPO. Academy Securities and Siebert Williams Shank & Co. are acting as co-managers for the IPO.

The IPO will be made only by means of a prospectus. A registration statement relating to the IPO has been filed with the SEC but has not yet become effective.

In May of this year Skyward Specialty expanded its construction portfolio by adding a crane and rigging captive programme, in partnership with eMaxx Assurance Group of Companies, a tech-enabled specialty provider of property and casualty captive solutions.