Ategrity Specialty Holdings (ASIC), a P&C insurer that caters to small and medium-sized businesses (SMBs), priced its IPO at $17.00 – $1.00 above the top of its $14.00-to-$16.00 price range – and sold 6.67 million shares – the number of shares in the prospectus – to raise $113.39 million on Tuesday night, June 10, 2025. Ategrity’s stock jumped at the opening trade to $23.65 – up $6.65 for a 39.12 percent gain from its $17.00 IPO price – in its late morning debut today – Wednesday, June 11, 2025 – on the New York Stock Exchange. Ategrity was last trading at $22.94 – up $5.94 or 34.94 percent from its IPO price – at noon EDT today on the NYSE on volume of about 1.19 million shares. The IPO’s pricing was moved up by a day.
J.P.Morgan and Barclays were the lead joint book-runners. Citigroup, TD Securities and Wells Fargo Securities rounded out the joint book-running team.
New York-based Ategrity offers excess and surplus insurance to small and medium-sized businesses – mostly in California, Florida and Texas – through its network of 512 distribution partners as of March 31, 2025, according to the prospectus.
Ategrity’s focus is on the real estate, hospitality, construction and retail sectors.
The demand for Ategrity’s IPO was driven by the company’s own profitability and the strong performance of P&C insurers’ IPOs – running from Skyward Specialty Insurance Group (SKWD) in mid-January 2023 to the early May 2025 IPOs of American Integrity Insurance (AII) and Aspen Insurance Holdings Ltd. (AHL) – the IPO pros say.
Ategrity reported net income of $53.95 million on revenue of $343.83 million for the year that ended Dec. 31, 2024,, according to financial statements in the prospectus.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.