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TAMPA - Underwriters of Slide Insurance Holdings, Inc.’s (NASDAQ:SLDE) initial public offering have fully exercised their option to purchase an additional 3.6 million shares of common stock from certain selling stockholders, the company announced Wednesday. The company, currently valued at $2.7 billion, trades at $21.32 per share with a notably low P/E ratio of 1.86.
The purchase of these additional shares closed today, bringing the total gross proceeds from the IPO to approximately $469.2 million. Slide will not receive any proceeds from the sale of these additional shares by the selling stockholders. According to InvestingPro analysis, the company maintains strong financial health with a "GREAT" overall score and robust cash flows that sufficiently cover its obligations.
Barclays and Morgan Stanley served as joint book-running managers for the offering, while Citizens Capital Markets, Keefe, Bruyette & Woods, and Piper Sandler acted as co-managers.
The company’s registration statement on Form S-1 relating to the offering was declared effective by the Securities and Exchange Commission on June 17, 2025.
Slide Insurance, based in Tampa, Florida, describes itself as a technology-enabled insurance company focused on homeowners insurance. The company utilizes artificial intelligence and data analytics in its insurance processes.
The information in this article is based on a press release statement from Slide Insurance Holdings, Inc.
In other recent news, Slide Insurance Holdings, Inc. made a notable entrance into the public market with its shares opening at $21, surpassing the initial public offering (IPO) price of $17. The company successfully priced its upsized IPO, which included 24,000,000 shares of common stock. Slide itself is selling 16,666,667 shares, while certain selling stockholders are offering 7,333,333 shares. Additionally, the selling stockholders have provided underwriters a 30-day option to purchase up to an additional 3,600,000 shares at the $17 public offering price, excluding underwriting discounts and commissions. Importantly, Slide will not gain any proceeds from the shares sold by these stockholders. Barclays and Morgan Stanley are acting as joint book-running managers for this offering. These developments mark a significant step for Slide as it enters the public trading arena.
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