Conifer Holdings completes sale of CIS for $43.4M; uses proceeds to reduce debt and redeem preferred

Presurance Holdings, Inc.

Conifer completed sale of Conifer Insurance Services (CIS) on Aug 30, 2024, for ~$43.4M in cash.
Estimated net gain on sale of $40.4M; CIS will be reported as discontinued operations.
Net proceeds used to repay $9.3M Senior Secured Note (plus call premium) and redeem all preferred stock ($6M).
Pro forma balance sheet shows shareholders' equity improves from -$1.2M to $37.6M.
Continuing operations pro forma net loss of $3.3M for H1 2024, improved from -$3.6M historical.

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