Presurance Holdings Announces Closing of Rights Offering

Rhea-AI Summary

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.

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

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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.