HCI Group prices 1M-share public offering at $78/sh, expects ~$73.4M net proceeds

HCI Group, Inc.

Underwritten offering of 1,000,000 shares at $78.00 per share, total gross proceeds ~$78M.
Underwriters granted 30-day option for up to 150,000 additional shares at same price less discounts.
Net proceeds of ~$73.4M for general corporate purposes including policy assumptions from Citizens Property Insurance Corp.
Offering expected to close Dec 11, 2023; JMP Securities (Citizens) lead book-runner.

item 1.01 item 7.01 item 9.01

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

HCI Group, Inc. entered into Underwriting Agreement with Citizens JMP Securities, LLC (effective 2023-12-06).

Action: entry
Agreement: underwriting
Counterparty: Citizens JMP Securities, LLC
Effective: 2023-12-06

Exact text from the filing

On December 6, 2023, HCI Group, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Citizens JMP Securities, LLC, as representative of the several underwriters thereto (the “Underwriters”), relating to the previously announced underwritten offering of 1,000,000 shares (the “Shares”) of the Company’s common stock, no par value per share (the “Common Stock” and such offering, the “Offering”).

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HCI Group, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-290792

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