Skyward Specialty IPO Could Generate About $150 Million

BI - January 4, 2023 - Skyward Specialty Insurance Group Inc. said Wednesday the expected price of its initial public offering will be between $14 and $16 per share, potentially generating proceeds of about $150 million.

The Houston-based insurer, which was previously called Houston International Insurance Group, filed its IPO registration document in November. The shares are expected to trade on the Nasdaq Global Select Market under the ticker symbol SKWD.

The offering will consist of 4,750,000 shares of common stock offered by the company, 3,750,000 offered by certain existing stockholders and an additional 1,275,000 shares from existing stockholders that the IPO’s underwriters will have the option to buy.

Barclays Capital Inc. and Keefe, Bruyette & Woods Inc. are acting as joint lead book-running managers for the offering, a Skyward statement said.