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Palomar Holdings, Inc. Announces Pricing of Primary and Secondary Public Offering
LA JOLLA, Calif., Jan. 09, 2020 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or the “Company”) today announced the pricing of its
About this update from Palomar Holdings, Inc.
[{"type":"text","content":"LA JOLLA, Calif., Jan. 09, 2020 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or the “Company”) today announced the pricing of its previously announced underwritten public offering (the “Offering) of 5,000,000 shares of Palomar’s common stock, par value $0.0001 per share (the “Common Stock”), which consists of 750,000 shares of Common Stock offered by the Company and 4,250,000 shares of Common Stock offered by certain selling stockholders, including affiliates of Genstar Capital (the “Genstar Affiliates”), at a public offering price of $49.00 per share. In addition, the underwriters have been granted a 30-day option to purchase up to 750,000 additional shares of common stock from the Genstar Affiliates at the public offering price, less underwriting discounts and commissions. The Company intends to use the net proceeds that it will receive from the offering for general corporate purposes, including to fund future growth. The Company will not receive any proceeds from the sale of the shares by the selling stockholders.\n Barclays Capital Inc., J.P. Morgan and Keefe, Bruyette & Woods, Inc. acted as joint lead book-running managers for the Offering. Evercore Group L.L.C., William Blair & Company, L.L.C., Piper Sandler & Co. and SunTrust Robinson Humphrey, Inc. also acted as joint book-running managers for the Offering. JMP Securities LLC acted as co-manager for the Offering. A registration statement relating to the Offering was declared effective by the Securities and Exchange Commission (the “SEC”) on January 9, 2020. The Offering is being made only by means of a prospectus, copies of which may be obtained from: Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (888) 603-5847 or email: [email protected]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at [email protected]; or Keefe, Bruyette & Woods, Inc., 787 Seventh Ave., 4th Floor, New York, New York 10019, Attention: Equity Capital Markets, or by calling (800) 966-1559, or by emailing [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these secur...