other_material
confidence high
sentiment neutral
materiality 0.85
Brown & Brown prices $4.3B common stock offering and $4.2B notes offering to fund RSC acquisition
BROWN & BROWN, INC.
- Sold 43.1M shares at $102/share for ~$4.3B; includes full exercise of underwriters' option for $400M.
- Issued $4.2B in senior notes across six tranches: 2026-2055 maturities, rates 4.600%-6.250%.
- Net proceeds will fund cash consideration for acquisition of RSC Topco (Accession Risk Management).
- If acquisition not consummated, equity and 2035 note proceeds used for general corporate purposes.
- Offering closed June 12, 2025; notes expected to close June 23, 2025.
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