Neptune Insurance Holdings (NP Proposed), a flood insurance company, unveiled its plans early today for its $350 million IPO. The St. Petersburg, Florida-based company’s selling shareholders are offering all of the stock in the IPO. The company will not receive any proceeds from the IPO. Neptune Insurance Holdings disclosed these terms: 18.42 million shares at a price range of $18.00 to $20.00 to raise $350 million, if priced at the $19.00 mid-point, according to its S-1/A filing dated Sept. 22, 2025
Neptune Insurance Holdings plans to price its IPO next week – on Tuesday night, Sept. 30, 2025 – to trade on Wednesday, Oct. 1, 2025, on the New York Stock Exchange.
At pricing, Neptune Insurance would have a market cap of about $2.6 billion.
Morgan Stanley, J.P. Morgan and BofA Securities are leading the joint book-runners’ team of 12 investment banks.
Neptune Insurance Holdings, incorporated in Delaware, described its business in the prospectus:
“Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents.”
Neptune Insurance Holdings’ SEC filings showed that the holding company is profitable: Net income of $45.26 million on revenues of $136.74 million for the 12 months that ended June 30, 2025.
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