Insurance company Ategrity (ASIC.US) IPO pricing at $14-16 per share, with plans to raise $100 million.

Ategrity Specialty Insurance, an American insurance company, announced its IPO terms on Tuesday. The company, based in New York, plans to issue 6.7 million shares of stock at a price range of $14 to $16 per share, raising $100 million. Based on the midpoint of the proposed offering price range, Ategrity Specialty Insurance's fully diluted market value will reach $706 million. Ategrity is a specialty insurance company dedicated to providing commercial excess and surplus insurance for small and medium-sized businesses in the United States. As of March 31, 2025, the company has a network of 512 distribution partners. The company offers property insurance (40% of gross underwritten premiums in 2024) and casualty insurance (60%), currently focusing on verticals such as real estate, hotels, construction, and retail. In 2024, Ategrity had gross underwritten premiums of $437 million and a combined ratio of 93.9%. Founded in 2018, Ategrity Specialty Insurance had sales of $351 million in the 12 months ending March 31, 2025. The company plans to list on the New York Stock Exchange under the ticker symbol "ASIC". J.P. Morgan, Barclays, Citi, Morgan Stanley, and Fidelity Securities are the joint book-running managers for this transaction. Ategrity is expected to price during the week of June 9, 2025.