other material
confidence high
sentiment neutral
materiality 0.60
Palomar Holdings prices 1.2M share public offering at $88/share for ~$100.6M net proceeds
Palomar Holdings, Inc.
- 1,200,000 shares priced at $88.00 each; underwriters have 30-day option for 180,000 additional shares.
- Net proceeds expected ~$100.6M after underwriting discounts and estimated offering expenses.
- Approximately $25M of net proceeds earmarked to finance acquisition of First Indemnity of America Insurance Company.
- Remaining proceeds for general corporate purposes and to fund future growth.
- Offering expected to close on or about August 12, 2024, subject to customary conditions.