Trean Insurance Group Prices Initial Public Offering
July 15 2020 - 8:59PM
Trean Insurance Group, Inc. (“Trean”) today announced the pricing
of its initial public offering of 10,714,286 shares of common stock
at a price of $15.00 per share. The shares are expected to
begin trading on the Nasdaq Global Select Market on July 16,
2020 under the symbol “TIG.” The offering is expected to
close on July 20, 2020, subject to customary closing conditions.
Trean is offering 7,142,857 shares of common stock and the
selling stockholders named in the prospectus are offering 3,571,429
shares of common stock. The underwriters have a 30-day option
to purchase up to an additional 1,607,142 shares of common stock
from certain of the selling stockholders. Trean will not
receive any proceeds from the sale of shares by the selling
stockholders.
J.P. Morgan, Evercore ISI and William Blair are acting as joint
book-running managers for the offering. JMP Securities is
acting as a co-manager. This offering is being made only by
means of a prospectus. A copy of the final prospectus, when
available, may be obtained from J.P. Morgan Securities LLC,
Attention: Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, or by telephone at 1-866-803-9204 or email at
prospectus-eq_fi@jpmchase.com; Evercore Group, L.L.C., Attention:
Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York,
NY 10055, or by telephone at 1-888-474-0200 or email at
ecm.prospectus@evercore.com; or William Blair & Company,
L.L.C., Attention: Prospectus Department, 150 North Riverside
Plaza, Chicago, IL 60606, or by telephone at 1-800-621-0687 or
email at prospectus@williamblair.com.
The registration statement relating to these securities has been
declared effective by the Securities and Exchange Commission.
Copies of the registration statement can be accessed through
the Securities and Exchange Commission’s website at www.sec.gov.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy these securities, nor shall
there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction.
About Trean Insurance Group, Inc.
Trean Insurance Group, Inc. provides products and services to
the specialty insurance market. Trean underwrites specialty
casualty insurance products both through its program partners and
its own managing general agencies. Trean also provides its
program partners with a variety of services including issuing
carrier services, claims administration and reinsurance
brokerage. Trean is licensed to write business across 49
states and the District of Columbia.
Contacts
Trean Insurance Group, Inc. Julie A. Baron Chief Financial
Officer, Treasurer and Secretary (952) 974-2249
julie.baron@trean.com
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