Presurance Holdings (Nasdaq: PRHI) closed its rights offering on February 27, 2026, receiving $14,000,000 in gross proceeds. A total of 14,000,000 shares were issued: 4,284,640 via exercised subscription rights and 9,715,360 under a backstop commitment by Clarkston.
Proceeds were used to redeem the Series B preferred stock, pay accrued dividends, and for general corporate purposes. The offering was registered on Form S-1 (File No. 333-292735) declared effective February 6, 2026.
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Positive
$14.0M gross proceeds raised from Rights Offering and Backstop Commitment
Issued 14,000,000 common shares at $1.00 per share
Redeemed Series B preferred and paid all accrued dividends
Negative
Issuance of 14,000,000 shares creates dilution for existing shareholders
Rights expired if not exercised by Feb 24, 2026 5:00 PM ET, limiting participation
Key Figures
Shares purchased via rights:4,284,640 sharesSubscription price:$1.00 per shareBackstop shares:9,715,360 shares+3 more
6 metrics
Shares purchased via rights4,284,640 sharesCommon stock bought through exercised subscription rights at Closing
Subscription price$1.00 per sharePrice for common stock in the Rights Offering and Backstop Commitment
Backstop shares9,715,360 sharesCommon stock purchased by Clarkston and assignee under Backstop Commitment
Gross proceeds$14,000,000Aggregate proceeds from Rights Offering and Backstop Commitment
Closing dateFebruary 27, 2026Date the Rights Offering closed
Rights expiration time5:00 p.m. ET, February 24, 2026Deadline for exercising subscription rights
Market Reality Check
Price:$1.48Vol:Volume 547,666 is below t...
low vol
$1.48Last Close
VolumeVolume 547,666 is below the 20-day average of 2,634,799, indicating lighter-than-usual trading.low
TechnicalShares at $1.48 are trading above the $0.89 200-day moving average and 33.03% below the 52-week high.
Peers on Argus
PRHI is up 24.38% while key peers show mixed, modest moves (e.g., KINS up 0.6%, ...
PRHI is up 24.38% while key peers show mixed, modest moves (e.g., KINS up 0.6%, OXBR down 2.6%, GBLI down 1.96%), pointing to a stock-specific reaction rather than a sector-wide insurance move.
Name and ticker change marking a new chapter for the company.
Pattern Detected
Limited history shows a large positive move on a prior corporate event, with price reaction diverging from the neutral nature of that news.
Recent Company History
Recent news for Presurance centers on corporate repositioning and capital structure actions. On Sep 29, 2025, the company announced a rebrand to Presurance Holdings with a new ticker PRHI, which saw a 24.38% next-day move despite largely administrative changes. The current rights offering closing and preferred redemption continue this balance-sheet-focused trajectory, transitioning from planning and registration filings toward execution of the capital raise.
Market Pulse Summary
This announcement confirms completion of Presurance’s rights offering, raising $14,000,000 at $1.00 ...
Analysis
This announcement confirms completion of Presurance’s rights offering, raising $14,000,000 at $1.00 per share and triggering redemption of its Series B Preferred Stock. The move follows earlier filings outlining the plan and continues a balance‑sheet-focused strategy after the recent corporate rebrand. Investors may watch how the enlarged equity base affects per-share metrics, how capital is allocated between preferred redemption and general purposes, and what future filings reveal about ongoing capital needs and underwriting performance.
Key Terms
rights offering, subscription rights, backstop agreement, series b preferred stock, +4 more
8 terms
rights offeringfinancial
"announced the closing of its rights offering (the “Rights Offering”)"
A rights offering is a way for a company to raise additional money by giving existing shareholders the opportunity to buy more shares at a discounted price before they are offered to the public. It’s similar to a special sale where current owners get the first chance to buy extra items at a lower cost, allowing them to increase their investment if they choose. This process matters to investors because it can affect the value of their holdings and their ability to buy new shares at favorable terms.
subscription rightsfinancial
"purchased upon the exercise of the subscription rights at the subscription price"
Subscription rights are short-term privileges given to existing shareholders to buy additional new shares before the general public, typically at a set price and in proportion to their current holdings. Think of it as getting a coupon for first dibs on extra slices of a pizza so your share of the pie doesn’t shrink; exercising them can be a cheaper way to maintain your ownership and voting power, while ignoring them can reduce your stake and potential future earnings.
backstop agreementfinancial
"Pursuant to the Rights Offering Backstop Agreement, dated as of February 3, 2026"
A backstop agreement is a guarantee from a third party to buy any unsold shares or take up remaining financing in a company’s stock sale or fundraising round, acting like a safety net so the deal goes through. For investors, it lowers the chance that a planned capital raise will fail and clarifies how much new stock might be issued and who will hold it, which can affect share value and dilution.
series b preferred stockfinancial
"the Company redeemed its Series B Preferred Stock and paid all accrued dividends"
Series B preferred stock is a type of ownership share issued by a company that offers certain advantages over common stock, such as priority in receiving dividends or assets if the company is sold or liquidated. It is typically issued after an initial round of funding, making it a way for investors to support a company's growth while gaining some protections and benefits. This stock matters to investors because it often provides a more secure investment position with potential for future growth.
registration statement on form s-1regulatory
"pursuant to the Company’s registration statement on Form S-1 (File No. 333-292735)"
A registration statement on Form S-1 is a detailed filing a company submits to the U.S. securities regulator to register new shares for public sale; it includes a plain-language prospectus, financial statements, business description and risk factors. For investors it matters because it provides the official, comprehensive blueprint of the offering — like an owner’s manual — allowing buyers to assess risks, inspect financial health and compare valuation before deciding to invest.
prospectusregulatory
"A final prospectus describing the terms of the Rights Offering was filed"
A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.
securities and exchange commissionregulatory
"declared effective by the Securities and Exchange Commission (the “SEC”) on February 6"
A national government agency that enforces rules for buying, selling and disclosing information about stocks and other investments, acting like a referee and scorekeeper for financial markets. It requires companies to share clear, regular financial and business information and investigates fraud or rule-breaking, which matters to investors because those rules and disclosures help ensure fair prices, reduce hidden risks and make it easier to compare investment choices.
common stockfinancial
"shares of the Company’s common stock, no par value (the “Common Stock”)"
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.
AI-generated analysis. Not financial advice.
TROY, Mich., Feb. 27, 2026 (GLOBE NEWSWIRE) -- Presurance Holdings, Inc. (Nasdaq: PRHI) (“Presurance” or the “Company”) today announced the closing of its rights offering (the “Rights Offering”), previously detailed in the Company’s Current Report on Form 8-K filed on January 28, 2026.
Pursuant to the terms of the Rights Offering, 4,284,640 shares of the Company’s common stock, no par value (the “Common Stock”), were purchased upon the exercise of the subscription rights at the subscription price of $1.00 per share of Common Stock at the closing of the Rights Offering on February 27, 2026 (the “Closing”).
Pursuant to the Rights Offering Backstop Agreement, dated as of February 3, 2026, by and between the Company and Clarkston Companies, Inc. (“Clarkston”), Clarkston agreed to purchase all unsubscribed shares of Common Stock to be issued in connection with the Rights Offering at a price of $1.00 per share (the “Backstop Commitment”). In satisfaction of the Backstop Commitment, Clarkston and its assignee purchased an aggregate of 9,715,360 shares of Common Stock from the Company. In connection with the fulfillment of the Backstop Commitment, the Company redeemed its Series B Preferred Stock and paid all accrued dividends on the Series B Preferred Stock.
The Company received an aggregate of $14,000,000 in gross proceeds from the Rights Offering and under the Backstop Commitment. Further to the use of proceeds described in the registration statement and prospectus for the Rights Offering, the Company is using the proceeds from the Rights Offering for the redemption of the Series B Preferred Stock and for general corporate purposes.
Pursuant to the terms of the Rights Offering, the subscription rights (the “Rights”) that were not properly exercised by 5:00 p.m., Eastern Time, on February 24, 2026 expired and became of no further force or effect. The Rights Offering is terminated with respect to shares not issued at the Closing.
The Rights Offering was made pursuant to the Company’s registration statement on Form S-1 (File No. 333-292735), as amended, which was declared effective by the Securities and Exchange Commission (the “SEC”) on February 6, 2026. A final prospectus describing the terms of the Rights Offering was filed with the SEC on February 6, 2026.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Rights, Common Stock or any other securities, nor will there be any offer, solicitation or sale of any of the Rights, Common Stock or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.
About Presurance Holdings Presurance Holdings, Inc. is a Michigan-based property and casualty holding company. Through its subsidiaries, the Company provides specialty insurance coverage with a focus on disciplined growth and long-term value creation. The Company trades on the Nasdaq Capital Market under the symbol PRHI. Additional information can be found on the Company’s website at ir.PREHLD.com.
For Further Information: Jessica Gulis, 248.509.9202 ir@prehld.com
FAQ
How much did Presurance Holdings (PRHI) raise in the February 27, 2026 rights offering?
Presurance raised $14,000,000 in gross proceeds from the Rights Offering and backstop purchases. According to the company, proceeds came from exercised subscription rights and Clarkston's backstop commitment at $1.00 per share.
How many Presurance (PRHI) common shares were issued in the rights offering closing?
A total of 14,000,000 common shares were issued at closing, split between exercised rights and backstop purchases. According to the company, 4,284,640 were exercised and 9,715,360 were purchased under the backstop commitment.
What did Presurance Holdings (PRHI) use the rights offering proceeds for?
The company used proceeds to redeem Series B preferred stock, pay accrued dividends, and for general corporate purposes. According to the company, these uses follow the registration statement and prospectus disclosures.
Who fulfilled the backstop commitment in Presurance (PRHI)'s rights offering?
Clarkston Companies fulfilled the backstop commitment by purchasing unsubscribed shares at $1.00 per share. According to the company, Clarkston and its assignee bought 9,715,360 shares to satisfy the commitment.
Did any subscription rights expire in Presurance (PRHI)'s rights offering?
Yes. Subscription rights not exercised by 5:00 PM ET on February 24, 2026 expired and became void. According to the company, the Rights Offering was terminated for shares not issued at the Closing.
