Rush Insurance Group raises $5.8 million in private offering
Rush Insurance Group, a Massachusetts-based insurance firm, has raised $5.8 million through a private securities offering, according to a recent filing.
The offering, structured under Rule 506(b), included both equity and debt and was completed with 28 investors. The company reported total proceeds of $5.8 million, with no remaining amount left to be sold.
Rush Insurance Group, headquartered in Chicopee, Massachusetts, reported revenue in the $5 million to $25 million range. The company has been operating for more than five years and is led by president Sam Hanmer.
The filing indicates that Oak Investment Partners was involved in the offering, with estimated sales commissions of $180,000 and finder’s fees of $4,000.