Baldwin files Form D tied to $551.7 million equity issuance

The Baldwin Group has filed a Form D with the U.S. Securities and Exchange Commission disclosing a $551.7 million equity issuance conducted under a Regulation D Rule 506(b) exemption. The filing indicates the securities were issued in connection with a business combination transaction and were fully subscribed, with no remaining securities available.

According to the filing, the offering involved Class A common stock priced at $23.78 per share, based on Baldwin’s closing price on the Nasdaq Global Select Market on January 2, 2026. The first sale occurred on January 2, 2026, and the offering was completed within the same month. A total of 267 investors participated.

The issuer is identified as Baldwin Insurance Group, formerly known as BRP Group, Inc., and is headquartered in Tampa, Florida. The filing lists multiple executive officers and directors, including Trevor Baldwin and Seth Cohen, who signed the Form D in his capacity as general counsel. No proceeds from the offering were allocated for payments to executive officers, directors, or promoters.