Sign In  |  Register  |  About Livermore  |  Contact Us

Livermore, CA
September 01, 2020 1:25pm
7-Day Forecast | Traffic
  • Search Hotels in Livermore

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Skyward Specialty Announces Pricing of Secondary Offering of Its Common Stock

HOUSTON, June 07, 2023 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group, Inc.TM (NASDAQ: SKWD) ("Skyward Specialty" or the “Company"), a leader in the specialty property and casualty (“P&C”) market, today announced the pricing of its underwritten offering of 3,850,000 of its common stock by The Westaim Corporation at the price of $23.00 per share. The Westaim Corporation along with certain other selling shareholders (collectively, the “Selling Stockholders”) also granted the underwriters a 30-day option to purchase up to an additional 577,500 shares of Skyward Specialty’s common stock.

Skyward Specialty will not receive any of the proceeds from the sale of the shares of its common stock offered by the Selling Stockholders, and the Selling Stockholders will bear the underwriting discounts and commissions associated with the sale of such shares. The offering is expected to close on June 12, 2023, subject to customary closing conditions.

Barclays Capital Inc. and Keefe, Bruyette & Woods, Inc., A Stifel Company, are acting as joint lead book-running managers for the proposed offering. JMP Securities, A Citizens Company, Piper Sandler & Co., Truist Securities, Inc., Raymond James & Associates, Inc. and BMO Capital Markets Corp. are acting as joint book-running managers for the proposed offering. Siebert Williams Shank & Co., LLC is acting as co-manager for the proposed offering.

A registration statement relating to these securities was filed with and declared effective by the Securities and Exchange Commission (the “SEC”) on June 7, 2023. The offering is only being made by means of a prospectus. A prospectus relating to and describing the terms of the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the prospectus relating to the offering may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (telephone: (888) 603-5847 or email: Barclaysprospectus@broadridge.com) or Keefe, Bruyette & Woods, Inc., 787 Seventh Ave., 4th Floor, New York, New York 10019, Attention: Equity Capital Markets (telephone: (800) 966-1559 or email: kbwsyndicatedesk@kbw.com).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Skyward Specialty
Skyward Specialty (NASDAQ: SKWD) is a rapidly growing and innovative specialty insurance company, delivering commercial property and casualty products and solutions on a non-admitted and admitted basis. The Company operates through eight underwriting divisions -- Accident & Health, Captives, Global Property & Agriculture, Industry Solutions, Professional Lines, Programs, Surety and Transactional E&S.

Skyward Specialty's subsidiary insurance companies consist of Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated A- (Excellent) by A.M. Best Company. For more information about Skyward Specialty, its people, and its products, please visit skywardinsurance.com.

CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release constitute forward-looking statements, including with respect to the closing of the offering. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause Skyward Specialty’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, Skyward Specialty assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Media Contact
Haley Doughty
Skyward Specialty Insurance Group
713-935-4944
hdoughty@skywardinsurance.com

For investor relations related inquiries contact IR@skywardinsurance.com


Primary Logo

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Livermore.com & California Media Partners, LLC. All rights reserved.