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Orion180 Insurance Group (OIG) has launched the roadshow for its proposed IPO of 20,000,000 shares of Class A common stock, with an expected price range of $15.00 to $17.00 per share.
The company plans to grant underwriters a 30-day option to purchase up to an additional 3,000,000 shares at the IPO price, less underwriting discounts and commissions. Orion180 has applied to list on the Nasdaq Global Select Market under ticker “OIG,” with RBC Capital Markets, UBS Investment Bank and Raymond James as lead book-running managers.
Orion180 (OIG) announced dual national honors connecting its three-year revenue growth with continued investment in employees. The company earned a spot on the 2026 Inc. 5000 list of America’s fastest-growing private companies and was named a 2026 Top Insurance Employer by Insurance Business America (IBA).
According to Orion180, its three-year revenue growth ranked in the top 3 among property and casualty insurers on the 2026 Inc. 5000, improving its overall list position by nearly 17% from 2025. Over the past year, Orion180 expanded its FLEX Home and Residential Private Flood products and launched DP Landlord Insurance, while IBA recognition was based on strong anonymous employee survey feedback on benefits, compensation, culture, and development programs.
Orion180 Insurance Group (Nasdaq: OIG) filed a registration statement on Form S-1 with the SEC for a proposed IPO of its Class A common stock. The number of shares and price range are not yet set, and the registration is not yet effective. Orion180 has applied to list on the Nasdaq Global Select Market under ticker “OIG” and describes itself as a technology-focused specialty homeowners and flood insurer with operations in 14 states and distribution through more than 14,000 independent agents.
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Orbital Infrastructure Group, Inc. (OIG) announced that its shareholders approved a reverse stock split on April 18, 2023. The approved split will consolidate shares at a ratio of 1-for-40, effective April 21, 2023. This amendment to the Certificate of Formation aims to enhance the stock's market appeal and meet listing requirements. No shareholder's percentage ownership or voting power will be impacted significantly, apart from minor adjustments for fractional shares, which will be rounded up. The company’s transfer agent, Computershare, will facilitate the exchange of old certificates for new ones. OIG’s shares will begin trading on a split-adjusted basis post-effective date.
Orbital Infrastructure Group (OIG) announced its 2022 financial results, reporting a substantial revenue increase of $322.2 million compared to $82.9 million in 2021. However, the company faced a significant net loss from continuing operations of $277.9 million, up from $49.8 million in the previous year. This loss was primarily due to non-cash charges totaling $158.8 million, which included $109.6 million for impairment of goodwill and intangible assets. The Adjusted EBITDA loss also widened to $40.3 million from $27.0 million in 2021, primarily impacted by losses in its renewable segment tied to utility-scale solar projects. The company utilized $19.6 million in cash for operating activities, an improvement from $45.7 million in 2021. OIG is exploring strategic alternatives but warns that completion is uncertain.
Orbital Infrastructure Group (NASDAQ: OIG) announced that its subsidiary, IMMCO, has achieved record sales growth of 119% through Q3 2022 compared to 2021. The company is expanding its workforce by hiring 60 new employees in Kochi, India, bringing total staff to over 800. IMMCO will open a new 9,500 square foot office in January 2023 to support increased demand for broadband engineering services, particularly related to Fiber to the Home initiatives. This expansion aims to accommodate a projected growth in broadband investments, driven by government funding initiatives.
Orbital Infrastructure Group, Inc. (OIG) reported third-quarter revenues of $99.8 million, a significant increase from $24.8 million a year earlier. However, the adjusted EBITDA loss from continuing operations widened to $14.6 million from $6.3 million in Q3 2021. The company faced $104.7 million in non-cash impairment charges. Despite a healthy backlog of $472.3 million, OIG revised down its full-year revenue guidance to $350 million-$375 million from $405 million-$450 million, citing challenges in the renewables segment, particularly in solar projects.