CRM Holdings, a fee-based manager of workers’ compensation self-insured groups in New York and California, plans to offer 8.9 million shares at a range of $13-$16. Insiders intend to sell 2.9 million shares. Assuming the stock prices at the midpoint, the company will have an initial market capitalization $236 million. Sandler O'Neill and KeyBanc Capital will underwrite the deal. Timing has yet to be determined.
