Porch Group buys back 2.1 million shares from reciprocal exchange for $15M
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Porch Group Announces Purchase of PRCH Shares from the Reciprocal
June 11, 2026 9:00 AM EDTSEATTLE--(BUSINESS WIRE)--
Porch Group, Inc. (Porch or the Company) (NASDAQ: PRCH), a new kind of homeowners insurance company, today announced that the Porch Reciprocal Exchange (the Reciprocal), a Texas unincorporated reciprocal interinsurance exchange, sold approximately 2.1 million shares of Porch common stock to Porch for an aggregate purchase price of $15 million in cash (the Transaction).
Strategic rationale: increase Reciprocals statutory surplus
The Transaction is designed to convert a portion of the Reciprocals Porch common stock holdings into cash, which increases... More
