Slide Insurance Holdings, a home insurance provider focused on the coastal southern US, raised $408 million by offering 24 million shares (31% from insiders) at $17, the high end of the range of $15 to $17. The company sold 20% more shares than expected, with the extra shares coming from selling shareholders.
The company is the second Florida-focused home insurer to go public in recent months, following the IPO of American Integrity AII in May.
Slide Insurance Holdings plans to list on the Nasdaq under the symbol SLDE. Barclays and Morgan Stanley acted as joint bookrunners on the deal.
