Palomar Holdings, Inc. Announces Launch of Initial Public Offering
LA JOLLA, Calif., April 08, 2019 (GLOBE NEWSWIRE) – Palomar Holdings, Inc. (“Palomar”) today announced that it has launched the roadshow for the initial public offering of its common stock. Palomar is offering 5,625,000 shares of its common stock, plus up to an additional 843,750 shares that the underwriters have the option to purchase. The initial public offering price is expected to be between $15.00 and $17.00 per share. The shares are expected to trade on the Nasdaq Global Select Market under the ticker symbol “PLMR”.
Barclays Capital Inc., J.P. Morgan and Keefe, Bruyette & Woods, Inc. will act as joint lead book-running managers for the offering. Evercore Group L.L.C., William Blair & Company, L.L.C., Sandler O’Neill & Partners, L.P. and SunTrust Robinson Humphrey, Inc. will also act as joint book-running managers for the offering.
The offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to this offering, when available, 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), J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 866-803-9204 or by email at email@example.com; or Keefe, Bruyette & Woods, Inc., 787 Seventh Ave., 4th Floor, New York, New York 10019, Attention: Equity Capital Markets, or by calling (800) 966-1559, or by emailing firstname.lastname@example.org.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission (the “SEC”) but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 Palomar Holdings, Inc.
Palomar is an innovative insurer that focuses on the provision of specialty property insurance for residential and commercial clients. Palomar’s underwriting and analytical acumen allow it to concentrate on certain markets that it believes are underserved by other insurance companies, such as the markets for earthquake, wind and flood insurance. Based in La Jolla, California, the company is an admitted carrier in 25 states. Palomar has an A.M. Best financial strength rating of “A-” (Excellent).