Slide Insurance Holdings, Inc. (SLDE Proposed) slid right onto the IPO runway early today. The coastal specialty P&C insurer disclosed its IPO terms – 20.0 million shares at a price range of $15.00 to $17.00 to raise $320.0 million, if priced at the $16.00 mid-point of its range, according to its S-1/A filing dated June 9, 2025. Of the 20 million shares in the IPO, Slide Insurance is offering 16.67 million shares and the selling shareholders, including certain directors and officers, are offering 3.33 million shares, the prospectus said. At pricing, Slide Insurance would have a market cap of about $2 billion if priced at the $16.00 mid-point of its range.
Slide Insurance (SLDE Proposed) disclosed its IPO’s terms in an SEC filing as the sun rose over Wall Street today. The Tampa, Florida-based insurance company set an IPO pricing date for next week. (Please see our IPO Calendar for the listing.) This is a NASDAQ listing.
Barclays and Morgan Stanley are the lead joint book-runners. Citizens Capital, Keefe, Bruyette & Woods (a Stifel company) and Piper Sandler are on the joint book-running team.
“Our major business is specialty P&C insurance for coastal residential properties,” Slide Insurance said in the prospectus “We focus on profitable underwriting of single family and condominium policies in the property and casualty (“P&C”) industry in coastal states along the Atlantic seaboard through our insurance subsidiary, Slide Insurance Company.”
Founded in 2021, Slide Insurance generates new business sales through a combination of independent agents and its direct-to-consumer (“DTC”) channel, the prospectus said.
Slide Insurance (SLDE Proposed) is profitable, according to financial statements in the prospectus: Net income of $238.92 million on revenue of $929.28 million for the 12 months that ended March 31, 2025.
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