TypTap Insurance Group, a Florida-based homeowners insurance provider being spun out of HCI Group, withdrew its plans for an initial public offering on Friday. It originally filed in November 2021 with a proposed deal size of $100 million.
The Tampa, FL-based company was founded in 2016 and booked $95 million in revenue for the 12 months ended September 30, 2021. It had planned to list on the NYSE under the symbol TYTP. JMP Securities, Truist Securities, and Oppenheimer & Co. were set to be the joint bookrunners on the deal.
