Business
Skyward Specialty Announces Secondary Offering of Its Common Stock
HOUSTON, May 06, 2024 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group, Inc. (NASDAQ: SKWD) (“Skyward Specialty” or the “Company”) a leader in the
About this update from Skyward Specialty Insurance Group, Inc.
[{"type":"text","content":"HOUSTON, May 06, 2024 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group, Inc. (NASDAQ: SKWD) (“Skyward Specialty” or the “Company”) a leader in the specialty property and casualty (“P&C”) market, announced that The Westaim Corporation (“Westaim”), through its wholly-owned subsidiary, Westaim HIIG GP Inc. (the “Selling Stockholder”) is offering 4,400,000 shares of the Company’s common stock in an underwritten secondary public offering. In connection with the offering, the Selling Stockholder has also granted the underwriters a 30-day option to purchase up to an additional 660,000 shares of Skyward Specialty's common stock. The Selling Stockholder will be a 4.80% and 6.45% shareholder in Skyward Specialty, assuming full and no exercise of the underwriters’ option to purchase the additional shares, respectively. Skyward Specialty will not receive any of the proceeds from the sale of the shares of its common stock offered by the Selling Stockholder, and the Selling Stockholder will bear the underwriting discounts and commissions associated with the sale of such shares. Barclays, Keefe, Bruyette & Woods, Inc., A Stifel Company, and Jefferies are acting as joint lead book-running managers for the proposed offering. The offering is being made pursuant to an automatically effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission (the “SEC”) on May 6, 2024 and only by means of a preliminary prospectus supplement. A copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, by visiting the SEC website at www.sec.gov or 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 jurisd...