Slide Insurance Holdings announces launch of IPO

Slide Insurance Holdings announced the launch of its initial public offering of 20,000,000 shares of its common stock, par value per share $0.01. Slide is offering 16,666,667 shares and certain selling stockholders are offering 3,333,333 shares of common stock in the proposed offering. In connection with the offering, the selling stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of common stock at the public offering price, less underwriting discounts and commissions.

The initial public offering price is currently expected to be between $15 and $17 per share. Slide has applied to list shares of its common stock on the Nasdaq Global Select Market under the symbol “SLDE”.

The company is looking to raise up to $340 million and is aiming for a valuation of up to $2.12 billion.

Barclays and Morgan Stanley are acting as joint book-running managers for the proposed offering. Citizens Capital Markets, Keefe, Bruyette & Woods, A Stifel Company, and Piper Sandler are acting as co-managers for the proposed offering.