American Integrity sets IPO price at $16 per share

TAMPA, Fla. - American Integrity Insurance Group, Inc. (NYSE:AII), a profitable insurance provider with annual revenue of $204.35 million and EBITDA of $53.88 million, has priced its initial public offering (IPO) of 6,875,000 shares of common stock at $16.00 each. Trading on the New York Stock Exchange is set to commence on May 8, 2025. The closing of the offering is anticipated on May 9, 2025, subject to standard closing conditions. InvestingPro analysis shows the company maintains strong profitability with a gross margin of 40.12%.

The offering includes 6,250,000 shares offered by American Integrity and 625,000 by certain existing shareholders. Additionally, the underwriters have a 30-day option to purchase up to an extra 1,031,250 shares at the IPO price, minus underwriting discounts and commissions.

The proceeds from the offering will be directed towards general corporate uses. This includes potentially boosting capital for American Integrity’s insurance subsidiary to support its growth. The funds will also address tax obligations related to equity grants made during the offering and cover the costs associated with ending its current management services agreement. The company will not benefit financially from the shares sold by the current stockholders. According to InvestingPro data, American Integrity maintains a healthy current ratio of 1.93, indicating strong liquidity to meet its short-term obligations. Subscribers can access additional financial health metrics and exclusive insights through the Pro platform.

Keefe, Bruyette & Woods, Piper Sandler, and William Blair are the active bookrunners for the IPO. Citizens Capital Markets and Raymond James are serving as passive bookrunners, with Oppenheimer & Co. joining as a co-manager.

The Securities and Exchange Commission has declared the registration statement for these securities effective as of May 7, 2025. The offering is available through a prospectus provided by the bookrunners.

American Integrity Insurance Group is a prominent residential property insurance provider in Florida, Georgia, and South Carolina, with over 385,000 policyholders. The company is headquartered in Tampa, Florida. InvestingPro analysis reveals the company has demonstrated steady growth with a revenue increase of 1.73% over the last twelve months, while maintaining low price volatility - one of several key insights available to Pro subscribers.

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

The information for this article is based on a press release statement.

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