Skyward Specialty Insurance (SKWD) has filed for a proposed $100M initial public offering.
The insurer didn’t specify in its filing the number and price of the shares to be offered, but indicated in an attached filing fee schedule that it was looking to raise up to $100M, a number that is likely a placeholder and subject to change.
Skyward intends to list its shares on Nasdaq under the symbol SKWD. Keef, Bruyette & Woods are serving as lead bookrunners. The company is also considering a 4-for-1 reverse stock split ahead of the deal.
For the nine-month period ended Sept. 30, Skyward reported a net income of $19M on revenue of $455M.
Based in Texas, Skyward provides commercial property and casualty insurance, mostly in the US. The company specializes in tailored insurance products for niche, underserved markets.
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Image and article originally from seekingalpha.com. Read the original article here.