Westaim launches secondary offering of 4.4M Skyward Specialty shares at $36.50 each

Skyward Specialty Insurance Group, Inc.

Selling stockholder Westaim HIIG GP Inc. offers 4,400,000 shares of SKWD common stock at $36.50 per share.
Underwriters granted 30-day option to purchase up to an additional 660,000 shares.
Skyward Specialty will not receive any proceeds from the sale; all net proceeds go to the selling stockholder.
After offering, Westaim will hold 4.80% (full option exercise) or 6.45% (no exercise) of SKWD shares.
Offering expected to close May 9, 2024; lock-up agreements with officers and directors for 90 days.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Skyward Specialty Insurance Group, Inc. entered into Underwriting Agreement with Barclays Capital Inc., Keefe, Bruyette & Woods, Inc. and Jefferies LLC as representatives of the several underwriters valued at $36.50 per share (effective 2024-05-06).

Action: entry
Agreement: underwriting
Counterparty: Barclays Capital Inc., Keefe, Bruyette & Woods, Inc. and Jefferies LLC as representatives of the several underwriters
Value: $36.50 per share
Effective: 2024-05-06

Exact text from the filing

On May 6, 2024, Skyward Specialty Insurance Group, Inc., a Delaware corporation (the “Company”) and Westaim HIIG GP Inc. (the “Selling Stockholder”) entered in an underwriting agreement (the “Underwriting Agreement”) with Barclays Capital Inc., Keefe, Bruyette & Woods, Inc. and Jefferies LLC as representatives of the several underwriters named therein

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Skyward Specialty Insurance Group, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-057990

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