Business
Skyward Specialty Announces Follow-On Offering of its Common Stock
HOUSTON, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group Inc.TM (NASDAQ: SKWD) ("Skyward Specialty" or the “Company") a leader in the
About this update from Skyward Specialty Insurance Group, Inc.
[{"type":"text","content":"HOUSTON, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group Inc.TM (NASDAQ: SKWD) (\"Skyward Specialty\" or the “Company\") a leader in the specialty property and casualty (“P&C”) market, today announced the Company has commenced a follow-on offering of 2,150,000 shares of its common stock. Additionally, Skyward Specialty’s existing stockholder, The Westaim Corporation (“Westaim”), is offering 2,350,000 shares. Westaim also granted the underwriters a 30-day option to purchase up to an additional 675,000 shares. Skyward Specialty’s principal purposes of the offering are to support its continued growth and allow the Company to capitalize on market opportunities – led by its existing lines, but also continuing to expand into new products and adjacencies that fit the Company’s strategy by increasing capitalization and financial flexibility. Skyward Specialty will not receive any of the proceeds from the sale of the shares by Westaim. Barclays, Keefe, Bruyette & Woods, Inc., A Stifel Company and Jefferies are acting as joint lead book-running managers for the proposed offering. Piper Sandler, JMP Securities, A Citizens Company, Truist Securities, Raymond James, BMO Capital Markets and Wolfe | Nomura Alliance are acting as joint book-running managers for the proposed offering. A registration statement relating to these securities was filed with and declared effective by the Securities and Exchange Commission (the “SEC”) today and is available on the SEC’s website at www.sec.gov. Accordingly, the offering is being made by means of a prospectus. Copies of the prospectus relating to the offering 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]), Keefe, Bruyette & Woods, Inc., 787 Seventh Ave., 4th Floor, New York, New York 10019, Attention: Equity Capital Markets (telephone: (800) 966-1559, or email: [email protected]) or Jefferies LLC, 520 Madison Avenue, New York, NY 10022, Attention: Equity Syndicate Prospectus Department (telephone: (877) 821-7388, or email: [email protected]). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction ...