Slide Insurance expects to raise up to $340m from IPO

Slide Insurance Holdings, Inc., the technology-enabled insurer, has launched its initial public offering (IPO) of 20,000,000 shares of its common stock, in a registration statement on Form S-1 with the Securities and Exchange Commission (SEC).

Slide currently expects the IPO to be priced between $15 and $17 per share, which would see the offering raise between $300 million and $340 million.

Slide is offering 16,666,667 shares, and certain selling stockholders are offering 3,333,333 shares of common stock in the proposed offering.

Related to the offering, the selling stockholders expect to grant the underwriters a 30-day option to buy up to an additional 3,000,000 shares of common stock at the public offering price, less underwriting discounts and commissions. This would additionally raise between $45-51 million.

The insurer has applied to list shares of its common stock on the Nasdaq Global Select Market under the symbol “SLDE”.

Barclays and Morgan Stanley are acting as joint book-running managers for the proposed offering. Citizens Capital Markets, Keefe, Bruyette & Woods, A Stifel Company, and Piper Sandler are acting as co-managers for the proposed offering.

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