TAMPA, Fla.--(BUSINESS WIRE)--Safepoint Holdings, Inc. ("Safepoint Holdings"), the holding company of a specialty homeowners and commercial insurance underwriter that manages two reciprocal insurance exchanges, Manatee Insurance Exchange and Cajun Underwriters Reciprocal Exchange, and its wholly owned carrier, Safepoint Insurance Company, today announced that it has launched the roadshow for its initial public offering of 6,242,317 shares of its common stock, par value $0.01 per share (the "common stock"), and selling stockholders identified in the prospectus are offering an additional 10,424,350 shares of common stock for a total of 16,666,667 shares of common stock. The initial public offering price is currently expected to be between $15.00 and $17.00 per share. The underwriters have a 30-day option to purchase up to an additional 2,500,000 shares of common stock from Safepoint Holdings at the initial public offering price, less underwriting discounts and commissions. Safepoint Holdings' common stock has been approved for listing, subject to official notice of issuance, under the ticker symbol "SFPT" on the New York Stock Exchange.
Deutsche Bank Securities and Morgan Stanley are acting as joint lead book-running managers for the proposed offering. Keefe, Bruyette & Woods, A Stifel Company, Citizens Capital Markets, Piper Sandler, Truist Securities and William Blair are acting as bookrunners for the proposed offering. Regions Securities LLC, Academy Securities, Huntington Capital Markets, Synovus, Texas Capital Securities and Wedbush Securities are acting as co-managers for the proposed offering.
A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission ("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. The proposed offering will be made only by means of a prospectus. The Registration Statement may be obtained free of charge at the SEC's website at www.sec.gov under "Safepoint Holdings, Inc." Additionally, copies of the preliminary prospectus, when available, may be obtained from:
By mail from Deutsche Bank Securities Inc., 1 Columbus Circle, New York, New York 10019, or by email at prospectus.cpdg@db.com
By mail from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Safepoint Holdings
Safepoint Holdings, Inc. is the holding company of a specialty homeowners and commercial insurance underwriter that manages two reciprocal insurance exchanges, Manatee Insurance Exchange and Cajun Underwriters Reciprocal Exchange, and its wholly owned carrier, Safepoint Insurance Company. Safepoint Holdings is a founder-led company that is majority-owned by its management and employees.
Forward-Looking Statements
Certain statements in this press release are "forward-looking statements," including statements regarding the timing, size and consummation of the proposed public offering. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Important factors that may affect actual results are described under "Risk Factors" and "Special Note Regarding Forward-Looking Statements" in Safepoint Holdings' Registration Statement on Form S-1 filed with the SEC (as amended or supplemented), and in other filings Safepoint Holdings makes with the SEC. Forward-looking statements speak only as of the date of this press release. Safepoint Holdings undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Contacts
Media Contact
Matthew Russell
investorrelations@safepointins.com
Deutsche Bank Securities and Morgan Stanley are acting as joint lead book-running managers for the proposed offering. Keefe, Bruyette & Woods, A Stifel Company, Citizens Capital Markets, Piper Sandler, Truist Securities and William Blair are acting as bookrunners for the proposed offering. Regions Securities LLC, Academy Securities, Huntington Capital Markets, Synovus, Texas Capital Securities and Wedbush Securities are acting as co-managers for the proposed offering.
A registration statement on Form S-1 relating to these securities has been filed with the Securities and Exchange Commission ("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. The proposed offering will be made only by means of a prospectus. The Registration Statement may be obtained free of charge at the SEC's website at www.sec.gov under "Safepoint Holdings, Inc." Additionally, copies of the preliminary prospectus, when available, may be obtained from:
By mail from Deutsche Bank Securities Inc., 1 Columbus Circle, New York, New York 10019, or by email at prospectus.cpdg@db.com
By mail from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Safepoint Holdings
Safepoint Holdings, Inc. is the holding company of a specialty homeowners and commercial insurance underwriter that manages two reciprocal insurance exchanges, Manatee Insurance Exchange and Cajun Underwriters Reciprocal Exchange, and its wholly owned carrier, Safepoint Insurance Company. Safepoint Holdings is a founder-led company that is majority-owned by its management and employees.
Forward-Looking Statements
Certain statements in this press release are "forward-looking statements," including statements regarding the timing, size and consummation of the proposed public offering. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Important factors that may affect actual results are described under "Risk Factors" and "Special Note Regarding Forward-Looking Statements" in Safepoint Holdings' Registration Statement on Form S-1 filed with the SEC (as amended or supplemented), and in other filings Safepoint Holdings makes with the SEC. Forward-looking statements speak only as of the date of this press release. Safepoint Holdings undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
Contacts
Media Contact
Matthew Russell
investorrelations@safepointins.com
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