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Westaim announces the pricing of Skyward Specialty's secondary public offering, with the intention of selling 4,400,000 shares at a price of US$36.50 per share through its subsidiary. The offering includes an option for underwriters to purchase an additional 660,000 shares. Skyward Specialty will not receive proceeds from the sale.
Skyward Specialty Insurance Group, Inc. (NASDAQ: SKWD) announced the pricing of its secondary offering of 4,400,000 shares at $36.50 per share by The Westaim The offering includes an option for underwriters to purchase an additional 660,000 shares. The Selling Stockholder will hold between 4.80% and 6.45% in Skyward Specialty. The Company will not receive proceeds from the offering, and underwriters will bear associated costs. Multiple entities are acting as managers for the offering, made under an effective shelf registration statement.
The Westaim announces the sale of 4,400,000 shares of common stock of Skyward Specialty Insurance Group, Inc. through an underwritten secondary public offering. The Offering includes a 30-day option for the underwriters to purchase an additional 660,000 shares. Skyward Specialty will not receive any proceeds from the sale, with the Selling Stockholder bearing the underwriting discounts and commissions.
Skyward Specialty Insurance Group, a leader in the specialty property and casualty market, announced a secondary offering of 4,400,000 shares of its common stock by The Westaim The underwritten offering includes a 30-day option to purchase an additional 660,000 shares. Skyward Specialty will not receive proceeds from the sale, with the Selling Stockholder bearing associated costs. Barclays, Keefe, Bruyette & Woods, Inc., and Jefferies are acting as joint lead book-running managers for the proposed offering.
Skyward Specialty Insurance Group, Inc. (Nasdaq: SKWD) reported a strong first quarter 2024 with net income of $36.8 million, up from $15.6 million in 2023. Highlights include gross written premiums increasing by 27.2%, underwriting income of $24.7 million, and an annualized return on equity of 21.7%. The company continues to execute its strategy successfully and expects to deliver attractive returns for shareholders in 2024.
