Kingsway raises $8.25M via preferred stock and acquires Image Solutions for $19.5M

KINGSWAY FINANCIAL SERVICES INC

Issued 330,000 shares of 8% cumulative Class B Preferred Stock at $25/share for $8.25M in private placement.
Acquired IT MSP Image Solutions for $19.5M cash (plus expenses) funded with cash on hand and $7.75M Avidbank term loan.
Image Solutions has ~$9.8M annual unaudited revenue and ~$3.1M adjusted EBITDA; expected immediately accretive.
Davide Zanchi appointed CEO of Image Solutions; founder Garrett Williams remains as advisor during transition.
Preferred stock convertible into 2.6316 common shares per share, mandatory redemption in 2031.

item 1.01 item 2.03 item 3.02 item 5.03 item 7.01 item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.