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Ategrity Specialty Insurance Company Holdings Announces Pricing of Initial Public Offering

1. Ategrity Specialty to IPO 6.67 million shares at $17 each. 2. Company expects to raise $113.3 million from the offering. 3. Proceeds will enhance capitalization and fund business growth. 4. Shares will trade on NYSE under the symbol 'ASIC'. 5. Underwriters have a 30-day option for 1 million additional shares.

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FAQ

Why Bullish?

The IPO at $17 with strong demand signals positive investor sentiment. Historical similar IPOs often result in increased stock prices shortly after listing.

How important is it?

The successful IPO can establish ASIC's market presence, crucial for future capital raises.

Why Short Term?

The initial public offering typically affects stock prices in the short horizon. Investors often react quickly to new listings and performance metrics.

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JPMBARCCTDWFC
NEW YORK--(BUSINESS WIRE)--Ategrity Specialty Insurance Company Holdings, formerly known as Ategrity Specialty Holdings LLC (the “Company”, “Ategrity Specialty”, “we” or “our”) announced today the pricing of its initial public offering of 6,666,667 shares of common stock at a public offering price of $17.00 per share. The aggregate gross proceeds to the Company from the offering are expected to be $113.3 million before deducting underwriting discounts and commissions and estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 1,000,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the New York Stock Exchange on June 11, 2025 under the symbol “ASIC.” The offering is expected to close on Thursday, June 12, 2025, subject to the satisfaction of customary closing conditions. The principal purposes of this offering are to increase the Company’s capitalization and financial flexibility and to create a public market for its common stock. The Company intends to use the net proceeds received from this offering to grow its business and for other general corporate purposes. The Company initially intends to invest such net proceeds in fixed income securities. J.P. Morgan and Barclays are acting as joint lead bookrunning managers of the offering and as representatives of the underwriters. Citigroup, TD Securities, and Wells Fargo Securities are acting as joint bookrunning managers. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-888-603-5847, or by email at barclaysprospectus@broadridge.com. A registration statement relating to the offering has been filed with the SEC, and became effective on June 10, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any state or other 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. About Ategrity Specialty Ategrity Specialty is a profitable and growing specialty insurance company dedicated to providing excess and surplus products to small to medium-sized businesses across the United States. We have built a proprietary underwriting platform that combines sophisticated data analytics with automated and streamlined processes to efficiently serve our clients and deliver long-term value to our stockholders. The small to medium-sized businesses market is characterized by large volumes of small-sized policies, and we believe our competitive edge lies in our ability to offer consistent, high-speed, and low-touch interactions that our distribution partners value. This advantage stems from our technology-driven method of standardizing, simplifying, and automating our transaction process, which we call productionized underwriting. Forward-Looking Statements This release contains forward-looking statements, including those relating to the expected closing date of the initial public offering and the date the shares are expected to begin trading on the New York Stock Exchange. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company's registration statement on Form S-1, including under the caption “Risk factors”. Any forward-looking statement in this release speaks only as of the date of this release. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances or to reflect new information or the occurrence of unanticipated events, except as required by law.

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