secwatch.observer — SEC 8-K summary
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Issuer:     Presurance Holdings, Inc. (PRHI)
CIK:        0001502292
Form:       8-K/A
Filed at:   2024-10-04T23:59:59+00:00
Accession:  0001140361-24-042899
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1502292/000114036124042899/0001140361-24-042899-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1502292/000114036124042899/ef20036705_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-042899

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