Skyward Specialty Insurance (SKWD) Announces Secondary Offering of Its Common Stock

Skyward Specialty Insurance Group, Inc. (NASDAQ: SKWD) (“Skyward Specialty” or the “Company”) a leader in the specialty property and casualty (“P&C”) market, announced that The Westaim Corporation (“Westaim”), through its wholly-owned subsidiary, Westaim HIIG GP Inc. (the “Selling Stockholder”) is offering 4,400,000 shares of the Company’s common stock in an underwritten secondary public offering. In connection with the offering, the Selling Stockholder has also granted the underwriters a 30-day option to purchase up to an additional 660,000 shares of Skyward Specialty's common stock. The Selling Stockholder will be a 4.80% and 6.45% shareholder in Skyward Specialty, assuming full and no exercise of the underwriters’ option to purchase the additional shares, respectively.

Skyward Specialty will not receive any of the proceeds from the sale of the shares of its common stock offered by the Selling Stockholder, and the Selling Stockholder will bear the underwriting discounts and commissions associated with the sale of such shares.

Barclays, Keefe, Bruyette & Woods, Inc., A Stifel Company, and Jefferies are acting as joint lead book-running managers for the proposed offering.

You May Also Be Interested In

• Stifel on Eos Energy Enterprises (EOSE) amid 10% gain: 'we view the collaboration with Google as a positive step for EOSE'
• Stifel Starts American Tungsten Corp (TUNG:CN) at Buy
• DeFi Development Corp. plans $20M preferred stock offering