Trean Insurance Group Announces Closing of Initial Public Offering
July 20 2020 - 11:09PM
Trean Insurance Group, Inc. (Nasdaq: TIG) today announced the
closing of its initial public offering of 10,714,286 shares of
common stock. Trean also announced the exercise by the underwriters
of their overallotment option to purchase an additional 1,207,142
shares of common stock. The overallotment closing is expected to
occur on July 22, 2020, subject to customary closing conditions.
In total, Trean issued and sold 7,142,857 shares of common stock
and the selling stockholders sold 4,778,571 shares, including the
additional 1,207,142 shares sold by certain of the selling
stockholders pursuant to the underwriters’ overallotment option.
Trean will not receive any proceeds from the sale of shares by the
selling stockholders.
J.P. Morgan, Evercore ISI and William Blair acted as joint
book-running managers for the offering. JMP Securities acted as a
co-manager. This offering was made only by means of a prospectus. A
copy of the final prospectus 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) 974-2200
julie.baron@trean.com
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