Kingsway closes $15.7M PIPE, raises annual acquisition target to 3-5

KINGSWAY FINANCIAL SERVICES INC

Private placement of 1,336,264 shares at $11.75 each for gross proceeds of ~$15.7M.
Purchasers include affiliates of Greenhaven Road, Blue Riband, Align Ventures, HighSide Capital, Baleen Capital.
KSX acquisition target raised from 2-3 per year to 3-5 per year, citing robust pipeline.
Funds combined with operating cash flow and non-dilutive capital to accelerate growth.
Resale registration statement to be filed within 90 days, effective within 60-90 days after.

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