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Investing.com -- Slide Insurance Holdings, Inc. began trading on the Nasdaq Global Select Market Wednesday under the ticker symbol "NASDAQ:SLDE" at $21 per share, marking a strong debut above its initial public offering price of $17 per share.
The company announced Tuesday the pricing of its upsized IPO of 24,000,000 shares of common stock. Of the total offering, Slide is selling 16,666,667 shares while certain selling stockholders are offering 7,333,333 shares.
The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 3,600,000 shares at the $17 public offering price, less underwriting discounts and commissions. Slide will not receive any proceeds from the sale of shares by the selling stockholders.
Barclays (LON:BARC) and Morgan Stanley (NYSE:MS) are serving as joint book-running managers for the offering.
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