Amid a fresh wave of initial public offerings (IPOs) hitting Wall Street this month, Orion180 Insurance Group is gearing up for its Nasdaq debut on Sept. 18. The leading provider of flexible, customer-centric homeowners and flood insurance solutions announced earlier this month that it has launched the roadshow for its proposed initial public offering of Class A common stock. With its public debut just around the corner, investors are turning their attention to the insurance newcomer and its plans for the market.
Orion180 has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) to offer 20 million shares of its Class A common stock to the public. In addition, the company intends to grant underwriters a 30-day option to purchase up to an additional 3 million shares at the offering price, less underwriting discounts and commissions. The IPO is expected to be priced between $15.00 and $17.00 per share, giving the offering a potential base size of $300 million to $340 million at a valuation of around $1.7 billion.
