Neptune Insurance launches public offering of 8.4 million shares

Neptune Insurance Holdings Inc. (NYSE: NP) announced a public offering of 8,355,615 shares of Class A common stock by certain selling securityholders. The selling securityholders plan to grant underwriters a 30-day option to purchase up to an additional 1,253,342 shares.

The company will concurrently repurchase 835,561 shares of Class A common stock from the underwriters at the same price paid to the selling securityholders. The repurchased shares will be retired and removed from circulation following the offering. The share repurchase depends on customary closing conditions and completion of the public offering.

Morgan Stanley serves as lead left bookrunner for the offering, with J.P. Morgan and Goldman Sachs & Co. LLC acting as active bookrunners.

Neptune Insurance filed a registration statement on Form S-1 with the SEC for the proposed offering, though it has not yet become effective. The offering will be made available through a prospectus once the registration statement is effective.

Neptune Insurance Holdings is the parent company of Neptune Flood Incorporated, which operates as a managing general agent offering residential and commercial insurance products including flood insurance through a nationwide network of agencies.

You May Also Be Interested In

• FS Bancorp authorizes $5M share repurchase program through August 2027
• Alnylam to present ATTR and hypertension data at ESC 2026
• Callan JMB names Northern Oil and Gas founder as Callan Power president