#United States #St. Petersburg #stock offering #IPO #Neptune Flood

Neptune Insurance Holdings Inc. Launches Initial Public Offering

Overview

Neptune Insurance Holdings Inc., the parent organization of Neptune Flood Incorporated, has officially declared the initiation of its initial public offering (IPO). The company is offering 18,421,053 shares of its Class A common stock sourced from specific selling security holders. Furthermore, to accommodate demand, the selling security holders will grant underwriters an option to purchase an additional 2,763,157 shares over a 30-day period. The initial pricing for these shares is expected to fall between $18 and $20 each.

Details of the Offering

The shares from this IPO will be listed on the New York Stock Exchange under the ticker symbol NP. Prominent financial institutions are overseeing this public offering, with Morgan Stanley appointed as the lead left bookrunner, accompanied by J.P. Morgan and BofA Securities acting as active bookrunners. A total of nine other financial entities, including Goldman Sachs and Deutsche Bank Securities, are participating as joint bookrunners for this initiative.

Important Considerations

A crucial aspect of any IPO is the provision of a prospectus that outlines all necessary details about the securities offered. Once available, interested stakeholders can access the preliminary prospectus via the EDGAR database located on the SEC’s website or through the individual financial institutions involved.

It is vital to note that a registration statement has been filed with the SEC on Form S-1 for this proposed offering yet has yet to be activated. According to regulatory requirements, these securities cannot be sold or purchased prior to the effectiveness of the registration statement. Thus, this announcement is not an offer to sell or a solicitation for purchasing these securities.

About Neptune Insurance Holdings Inc.

Founded in 2018, Neptune Flood is recognized as a premier managing general agent that utilizes data-driven methodologies to provide an assortment of insurance products. These offerings primarily include residential and commercial flood insurance, with a distinct emphasis on both primary and excess flood insurance. Neptune Flood operates through a vast network of agencies located across the United States.

Leveraging its proprietary artificial intelligence and advanced data science capabilities, Neptune Flood facilitates rapid, accurate, and accessible coverage solutions nationwide. Unlike traditional methods, the company operates without human underwriters, allowing for a smooth process in underwriting, pricing, and policy issuance. This unique operational model positions Neptune Flood at the forefront of addressing flood-related insurance needs efficiently.

Conclusion

The launch of Neptune Insurance Holdings’ IPO marks a significant chapter in its growth trajectory, enabling expansion and increasing its footprint in the insurance sector. Investors can look forward to engaging with an innovative company committed to making flood insurance more accessible through technology and data-driven approaches.