Trean Insurance Group Prices Secondary Offering of Common Stock
May 19 2021 - 7:16PM
Trean Insurance Group, Inc. (Nasdaq:TIG) (“Trean”) today announced
the pricing of a secondary offering of 5,000,000 shares of Trean
common stock at a price of $14.00 per share. The offering is
expected to close on May 24, 2021, subject to customary closing
conditions.
The selling stockholders named in the prospectus are offering
5,000,000 shares of Trean common stock. The underwriters have a
30-day option to purchase up to an additional 750,000 shares of
common stock from the selling stockholders. Trean will not receive
any proceeds from the offering.
J.P. Morgan and Evercore ISI are acting as lead book-running
managers, William Blair is acting as a joint book-running manager
and JMP Securities is acting as a co-manager for the offering. 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; or
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.
The registration statement on Form S-1 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
Investor Relationsinvestor.relations@trean.com(952) 974-2260
Trean Insurance (NASDAQ:TIG)
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