Renaissance Capital logo

Advantage Insurance postpones $100 million IPO

December 19, 2017
AVI

Advantage Insurance, which provides life insurance to high-net-worth clients and P&C insurance to SMBs, postponed its IPO on Tuesday. It had filed to raise $100 million by offering 10 million shares at a price range of $9 to $11.

The San Juan, Puerto Rico-based company was founded in 1993 and booked $25 million in sales for the 12 months ended September 30, 2017. It had planned to list on the NYSE under the symbol AVI. Raymond James, JMP Securities and B. Riley & Co. were set to be the joint bookrunners on the deal.