Fortegra announces launch of initial public offering

The Fortegra Group, a multinational specialty insurer and subsidiary of Tiptree, announced the launch of Fortegra’s initial public offering.

Fortegra has filed a registration statement on Form S-1 with the Securities and Exchange Commission to offer 18,000,000 shares of its common stock to the public. Fortegra also intends to grant the underwriters a 30-day option to purchase up to an additional 2,700,000 shares of common stock from the company.

The price range for the initial public offering is expected to be between $15.00 and $18.00 per share. Fortegra has applied to list its common stock on the New York Stock Exchange under the ticker symbol “TFG.”

The company intends to use the net proceeds it receives from the offering to execute its growth strategy and for working capital and general corporate purposes.