Stewart Announces Pricing of Public Offering of Common Stock

Rhea-AI Summary

Stewart (NYSE: STC) priced a public offering of 1,900,000 common shares at $68.00 per share, with gross proceeds expected to be approximately $129.2 million. The underwriters have a 30-day option to purchase up to an additional 285,000 shares, which would raise gross proceeds to about $148.6 million if exercised in full.

The offering is expected to close on December 12, 2025, subject to customary closing conditions. All shares are being offered by Stewart; underwriting discounts, commissions and other offering expenses will reduce net proceeds. Goldman Sachs is lead manager; a final prospectus supplement will be available from Goldman Sachs when released.

Positive

• Gross proceeds of approximately $129.2 million
• Upsize option could increase proceeds to $148.6 million
• Pricing set at $68.00 per share, enabling immediate capital raise

Negative

• Share issuance increases outstanding shares and may dilute current holders
• Underwriting discounts and offering expenses will reduce net proceeds
• Closing is subject to customary conditions and may not occur on December 12, 2025

Key Figures

Shares offered 1,900,000 shares Public offering of common stock

Offering price $68.00 per share Public offering price to the public

Underwriters’ option 285,000 shares 30-day option for additional common shares

Gross proceeds $129.2 million Before fees and expenses, base offering

Gross proceeds (incl. option) $148.6 million If underwriters’ option fully exercised

Closing date December 12, 2025 Anticipated closing of offering

Option period 30 days Duration of underwriters’ additional share option

Market Reality Check

$73.81 Last Close

Volume Volume 171,372 versus 20-day average 162,249 (relative volume 1.06x) indicates only modestly elevated trading ahead of the offering. normal

Technical Shares at $73.81 are trading above the 200-day moving average of $68.43 and about 6.11% below the 52-week high of $78.61.

Peers on Argus

STC was up 1.89% while key insurance peers were mixed: HCI (0.88%), KMPR (1.2%), PLMR (0.34%), SKWD (1.02%), and LMND (-2.04%). The data point to a company-specific catalyst rather than a broad title/insurance sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 09	Product update	Positive	-1.0%	PropStream announced enhanced skip tracing and contact data tools.
Dec 01	Dividend declaration	Positive	-0.6%	Declared Q4 2025 cash dividend of $0.525 per share.
Nov 12	Conference participation	Neutral	-1.3%	Management scheduled for fireside chat at Stephens conference.
Nov 07	Acquisition announcement	Positive	+2.8%	Announced $330M acquisition of Mortgage Contracting Services.
Oct 22	Earnings results	Positive	+5.2%	Reported higher Q3 2025 revenues, earnings and margins.

Pattern Detected

Positive strategic and financial updates (acquisition, earnings) have previously seen aligned positive reactions, while product updates and dividends have sometimes coincided with modest negative moves, indicating mixed responses to incremental or income-focused news.

Recent Company History

Over the last few months, Stewart reported strong Q3 2025 results with revenues of $796.9M and a 5.16% next-day gain, and announced a $330M acquisition of Mortgage Contracting Services that saw a 2.84% rise. Income-focused news such as the $0.525 quarterly dividend on Dec 30, 2025 and product or event updates have coincided with small declines. Today’s equity offering follows this acquisition and dividend activity, adding a financing layer to the recent growth and capital allocation narrative.

Regulatory & Risk Context

Active S-3 Shelf Registration 2025-12-10

On Dec 10, 2025, Stewart filed an automatic shelf registration on Form S-3ASR, allowing it to offer common stock, preferred stock, warrants, units, debt securities and purchase contracts over time. Net proceeds from future takedowns may be used for general corporate purposes, including acquisitions, working capital, capital expenditures, share repurchases and debt repayment.

Market Pulse Summary

This announcement details a public offering of 1,900,000 common shares at $68 per share, with potential gross proceeds up to $148.6M if the underwriters’ option is fully exercised. It follows strong Q3 2025 results and a $330M acquisition, and sits under a newly filed S-3ASR shelf. Investors may track how this capital raise interacts with growth plans, acquisition funding and future capital allocation decisions.

Key Terms

registration statement regulatory

"A registration statement (including a base prospectus) and a preliminary..."

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

base prospectus regulatory

"A registration statement (including a base prospectus) and a preliminary..."

A base prospectus is a detailed document that provides essential information about a financial offering, such as a bond or share issue. It acts like a comprehensive guide for investors, explaining what the investment involves, the risks involved, and how the process works. This helps investors make informed decisions before committing their money.

prospectus supplement regulatory

"The offering is being made only by means of a prospectus supplement..."

A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.

underwriting discounts and commissions financial

"less underwriting discounts and commissions. The gross proceeds from..."

Underwriting discounts and commissions are fees paid to financial institutions that help sell new securities to investors. They act like a commission for their role in connecting companies with buyers, often reducing the amount of money the issuing company raises. For investors, understanding these costs helps gauge how much of their investment is going toward the actual securities versus fees paid to middlemen.

AI-generated analysis. Not financial advice.

HOUSTON, Dec. 10, 2025 /PRNewswire/ -- Stewart Information Services Corporation (NYSE: STC) ("Stewart" or the "Company") today announced the pricing of its public offering of 1,900,000 shares of its common stock, at a price to the public of $68.00 per share. All of the shares are being offered by Stewart. The offering is anticipated to close on December 12, 2025, subject to the satisfaction of customary closing conditions. The underwriters for the offering also have a 30-day option to purchase up to an additional 285,000 shares of Stewart's common stock at the price to the public, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Stewart, are expected to be approximately $129.2 million (or $148.6 million if the underwriters exercise their option to purchase the additional shares in full).

Goldman Sachs & Co. LLC is acting as lead book-running manager for the offering, Citizens Capital Markets is acting as book-running manager for the offering and Dowling & Partners Securities, LLC, Keefe, Bruyette & Woods, a Stifel Company, and Stephens Inc. are acting as co-managers.

A registration statement (including a base prospectus) and a preliminary prospectus supplement relating to these securities have been filed with the Securities and Exchange Commission. The registration statement became automatically effective upon filing. The offering is being made only by means of a prospectus supplement (including the accompanying base prospectus). A copy of the final prospectus supplement, when available, may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 866-471-2526 or by emailing prospectus-ny@ny.email.gs.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.

About Stewart 
Stewart Information Services Corporation (NYSE: STC) is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage industry, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. ST-IR.

Caution Regarding Forward-Looking Statements

Certain statements in this press release are "forward-looking statements," including statements regarding the completion, timing and size of the proposed public offering, the grant to the underwriters of an option to purchase additional shares and references to whether Stewart will offer the common stock or consummate the offering. Forward-looking statements, by their nature, are subject to various risks and uncertainties that could cause our actual results to differ materially. Such risks and uncertainties include the volatility of general economic conditions, including economic changes that may result from new or increased tariffs, trade restrictions or geopolitical tensions, and adverse changes in the level of real estate activity, as well as a number of other risk and uncertainties discussed in detail in our documents filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2024, and if applicable, as supplemented by any risk factors contained in our Quarterly Reports on Form 10-Q, and our Current Reports on Form 8-K filed subsequently. We expressly disclaim any obligation to update, amend or clarify any forward-looking statements contained in this press release to reflect events or circumstances that may arise after the date hereof, except as may be required by applicable law.

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SOURCE Stewart Information Services Corporation

FAQ

How many shares did Stewart (STC) offer and at what price on December 11, 2025?

Stewart priced an offering of 1,900,000 shares at $68.00 per share.

What are the expected gross proceeds from the Stewart (STC) December 2025 offering?

Gross proceeds are expected to be approximately $129.2 million, or $148.6 million if the underwriters buy the full option.

When is the Stewart (STC) public offering expected to close?

The offering is anticipated to close on December 12, 2025, subject to customary closing conditions.

Does Stewart (STC) have an option to sell additional shares in this offering?

Yes, underwriters have a 30-day option to purchase up to 285,000 additional shares at the public price less discounts and commissions.

Who is managing the Stewart (STC) offering and where can I get the prospectus?

Goldman Sachs is lead manager; the final prospectus supplement will be available from Goldman Sachs' Prospectus Department when issued.