Neptune Insurance prices public offering at $27.50 per share

Neptune Insurance Holdings Inc. (NYSE: NP) announced the pricing of a public offering for the sale of 9,841,395 shares of Class A common stock by certain selling securityholders at $27.50 per share.

The company will concurrently purchase 984,140 shares of Class A common stock from the underwriters at $26.40 per share, matching the price paid by underwriters to selling securityholders. The repurchased shares will be retired and will no longer be outstanding after the offering.

The offering is expected to close on May 15, 2026, subject to customary closing conditions. The completion of the share repurchase is contingent on the satisfaction of closing conditions and completion of the proposed offering.

Selling securityholders have granted underwriters a 30-day option to purchase up to an additional 1,476,209 shares of Class A common stock at the public offering price, less underwriting discounts and commissions.

Morgan Stanley serves as lead left bookrunner for the offering. J.P. Morgan and Goldman Sachs & Co. LLC act as active bookrunners. BofA Securities, BMO Capital Markets, Deutsche Bank Securities, Evercore ISI, Keefe Bruyette & Woods, Mizuho, Piper Sandler, Raymond James, TD Securities and Wells Fargo Securities serve as joint bookrunners. Dowling & Partners Securities LLC and Capital One Securities act as co-managers.

A registration statement on Form S-1 relating to these securities was declared effective by the SEC on May 13, 2026. Neptune Insurance Holdings is the parent company of Neptune Flood Incorporated, which operates as a managing general agent offering residential and commercial insurance products including flood insurance.

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