PN News

The first two IPOs of 2015 both priced below the range and broke issue in early trading Friday. Wisconsin-based County Bancorp recovered to an 8% gain, but insurance services provider Patriot National ended the day down 4%. Last year's finance IPOs average a -1% return from the IPO price. The week's largest scheduled deal postponed its IPO, highlighting the continued pressure...read more

Patriot National, which provides fee-based administration services to workers' compensation insurers, raised $116 million by offering 8.3 million shares (12% insider) at $14, below the range of $16 to $18. Patriot National plans to list on the NYSE under the symbol PN. Patriot National initially filed confidentially on 10/10/2014. UBS Investment Bank, BMO Capital Markets and...read more

The 2015 IPO market kicks off with three finance companies including a mortgage REIT, an insurance service company and a Wisconsin dairy-focused bank. Financial offerings averaged three per month in 2014 and averaged 2% on the first day and 0.4% thereon. Insiders plan to float a portion of each deal on this week's ...read more

The 2015 IPO market kicks off with three financial firms, including two REITs and an insurance broker. All three had previously attempted to go public. Mortgage REIT Sutherland Asset Management is set to raise $125 million and Patriot National could raise $141 million. Both deals, which...read more