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Neptune Insurance Holdings Inc. Announces Pricing of Public Offering
Neptune Insurance Holdings Inc. (the “Company”) (NYSE:NP), the parent company of Ne...
About this update from Northpalm Capital Corp.
[{"type":"text","content":"Neptune Insurance Holdings Inc. Announces Pricing of Public Offering\n\n\n\n\n\n\n Neptune Insurance Holdings Inc. (the “Company”) (NYSE:NP), the parent company of Neptune Flood Incorporated, today announced the pricing of its public offering for the sale of 9,841,395 shares of its Class A common stock by certain selling securityholders at a public offering price of $27.50 per share.\n \n\n As part of the proposed offering, the Company intends to concurrently purchase from the underwriters 984,140 shares of Class A common stock at a price per share of $26.40, equal to the price per share to be paid by the underwriters to the selling securityholders in the proposed offering. The repurchased shares of Class A common stock will be retired and will no longer be outstanding after the proposed offering. The completion of the share repurchase is contingent on the satisfaction of customary closing conditions and conditioned upon the completion of the proposed offering.\n \n\n The offering is expected to close on May 15, 2026, subject to customary closing conditions.\n \n\n In addition, the selling securityholders have granted the underwriters a 30-day option to purchase up to an additional 1,476,209 shares of Class A common stock at the public offering price, less underwriting discounts and commissions.\n \n\n Morgan Stanley is acting as lead left bookrunner for the proposed offering. J.P. Morgan and Goldman Sachs & Co. LLC are acting as active bookrunners. BofA Securities, BMO Capital Markets, Deutsche Bank Securities, Evercore ISI, Keefe, Bruyette & Woods,\n \n a Stifel Company\n \n , Mizuho, Piper Sandler, Raymond James, TD Securities and Wells Fargo Securities are acting as joint bookrunners. Dowling & Partners Securities LLC and Capital One Securities are acting as co-managers.\n \n\n The offering is being made available only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained by visiting EDGAR on the SEC’s website at\n \n www.sec.gov\n \n . Alternatively, copies of the prospectus may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by email at\n \n\n prosp...