LA JOLLA, Calif., April 16, 2019 (GLOBE NEWSWIRE)—Palomar Holdings, Inc. (“Palomar”) today announced the pricing of its initial public offering of its common stock at a price of $15.00 per share. 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 shares are expected to begin trading on the Nasdaq Global Select Market on April 17, 2019 under the ticker symbol “PLMR” and the offering is expected to close on April 22, 2019, subject to customary closing conditions.
Barclays Capital Inc., J.P. Morgan and Keefe, Bruyette & Woods, Inc. are acting 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. are acting as joint book-running managers for the offering.
A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on April 16, 2019. This offering is being made only by means of a prospectus, copies of which 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 prospectus-eq_fi@jpmchase.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 kbwsyndicatedesk@kbw.com.
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.
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).
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