UPDATE: Trean Insurance Group (TIG) Prices 10.7M Share IPO at $15/Sh

Trean Insurance Group, Inc. (NYSE: TIG) today announced the pricing of its initial public offering of 10,714,286 shares of common stock at a price of $15.00 per share. The shares are expected to begin trading on the Nasdaq Global Select Market on July 16, 2020 under the symbol “TIG.” The offering is expected to close on July 20, 2020, subject to customary closing conditions.

Trean is offering 7,142,857 shares of common stock and the selling stockholders named in the prospectus are offering 3,571,429 shares of common stock. The underwriters have a 30-day option to purchase up to an additional 1,607,142 shares of common stock from certain of the selling stockholders. Trean will not receive any proceeds from the sale of shares by the selling stockholders.

J.P. Morgan, Evercore ISI and William Blair are acting as joint book-running managers for the offering. JMP Securities is acting as a co-manager.

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