Exzeo Group, Inc. Launches Initial Public Offering
Rhea-AI Summary
HCI Group (NYSE:HCI) announced that its majority owned subsidiary Exzeo Group, Inc. has launched an initial public offering of 8,000,000 primary shares.
Exzeo expects an IPO price range of $20.00–$22.00 per share, may grant underwriters a 30‑day option for up to 1,200,000 additional shares, and has applied to list on the New York Stock Exchange as XZO. The registration statement is expected to become automatically effective on November 4, 2025, subject to SEC processes. Truist Securities is lead left bookrunner; Citizens Capital Markets, William Blair, and Fifth Third Securities are co-managers.
Positive
- Offering of 8,000,000 primary shares
- HCI will retain majority ownership after the IPO
- Underwriter syndicate led by Truist Securities
- Planned NYSE listing under ticker XZO
Negative
- Registration not yet effective; shares cannot be sold until effectiveness
- IPO timing subject to SEC operational status and possible delays
- Underwriters' 1,200,000 share option could increase float and dilution
Insights
Exzeo launched a planned IPO of 8,000,000 primary shares with a $20.00–$22.00 expected price range; HCI will remain majority owner.
Exzeo Group, Inc. is offering 8,000,000 primary common shares with a 30‑day underwriter option for an additional 1,200,000 shares and an expected IPO price range of
The business mechanism is straightforward: the offering issues only primary shares, so proceeds will flow to Exzeo rather than existing shareholders; however, HCI Group will retain majority ownership so corporate control and consolidated reporting implications remain. Key dependencies include the SEC effective date and the underwriters’ bookbuilding outcome that will determine final pricing and shares sold. Operational or timing changes at the SEC could shift the effective date and IPO timing.
Watch the final prospectus for the exact share count sold, final IPO price, and use of proceeds; monitor whether the underwriters exercise the full 30‑day option for up to 1,200,000 additional shares. Near‑term horizon: resolution of the registration effective status by
TAMPA, Fla., Oct. 16, 2025 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE:HCI) today announced that its majority owned subsidiary, Exzeo Group, Inc., has launched its initial public offering (“IPO”) pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the "SEC"). Exzeo is offering 8,000,000 shares of its common stock in the IPO. All shares being offered are primary shares, and HCI Group will retain majority ownership following the IPO. Exzeo intends to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 common shares at the IPO price, less underwriting discounts and commissions. The IPO price is currently expected to be between
Exzeo has included in the registration statement specific language under Rule 473(b) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), such that, absent further action from the SEC, the registration statement is expected to become automatically effective on November 4, 2025, pursuant to Section 8(a) of the Securities Act. Exzeo will continue to monitor developments, including the operational status of the SEC, in connection with the proposed IPO.
Truist Securities is acting as lead left bookrunner for the proposed offering. Citizens Capital Markets and William Blair are acting as joint active book-running managers and Fifth Third Securities is acting as a co-manager.
The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Truist Securities, Inc., 740 Battery Ave SE, 3rd Floor, Atlanta, GA 30339, Attention: Prospectus Department, or by email at truistsecurities.prospectus@truist.com; Citizens Capital Markets, 28 State Street, Boston, MA 02109; and William Blair & Company, LLC, 150 North Riverside Plaza, Chicago, Illinois 60606, Attention: Prospectus Department, or by email at prospectus@williamblair.com.
A registration statement on Form S-1 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About HCI Group, Inc.
HCI Group is a holding company with two distinct operating units. The first unit includes four top-performing insurance companies, a captive reinsurance company, and operations in claims management and real estate. The second unit, called Exzeo Group, is a leading innovator of insurance technology that utilizes advanced underwriting algorithms and data analytics. Exzeo empowers property and casualty insurers to transform underwriting outcomes and achieve industry-leading results.
HCI Group’s common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com.
Forward-Looking Statements
This news release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. These statements may relate, among other things, to expectations regarding the size and terms of the proposed IPO, including the offering price, anticipated timing, and the effective date of the registration statement. Words such as "anticipate," "estimate," "expect," "intend," "plan," "confident," "prospects" and "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions, but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the company's filings with the Securities and Exchange Commission. Should any risks or uncertainties develop into actual events, these developments could have material adverse effects on the company's business, financial condition and results of operations. HCI Group, Inc. disclaims all obligations to update any forward-looking statements.
Company Contact:
Bill Broomall, CFA
Investor Relations
wbroomall@exzeo.com
Investor Relations Contact:
Matt Glover
Gateway Group, Inc.
949-574-3860
HCI@gateway-grp.com
FAQ
How many shares is Exzeo offering in the IPO (HCI subsidiary)?
What is the expected IPO price range for Exzeo (ticker XZO)?
Will HCI (NYSE:HCI) keep control of Exzeo after the IPO?
When is Exzeo’s registration statement expected to become effective?
What underwriters are managing the Exzeo IPO (XZO)?
Where can investors obtain Exzeo’s preliminary prospectus for the IPO?
