Bookrunners BMO Capital Markets and Raymond James to assist with sale
By Devika Patel
Knoxville, Tenn., Aug. 13 – Conifer Holdings, Inc. said it priced its $32.55 million initial public offering of stock with a $4.88 million greenshoe. The deal was announced July 2.
The company will sell 3.1 million common shares at $10.50 per share.
BMO Capital Markets Corp. and Raymond James & Associates, Inc. are the bookrunning managers.
Settlement is expected Aug. 18.
Proceeds will be used to repay debt, to repurchase preferred stock, to pay preferred stock dividends, for growth and for general corporate purposes.
The insurance holding company is based in Birmingham, Mich. The company intends to list its common stock on the Nasdaq under the symbol “CNFR.”
| Issuer: | Conifer Holdings, Inc.
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| Issue: | Common stock
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| Amount: | $32.55 million
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| Greenshoe: | $4,882,500, or 465,000 shares
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| Shares: | 3.1 million
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| Price: | $10.50
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| Warrants: | No
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| Bookrunners: | BMO Capital Markets Corp. and Raymond James & Associates, Inc.
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| Co-managers: | Sandler O'Neill & Partners, LP and William Blair & Co. LLC
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| Announcement date: | July 2
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| Pricing date: | Aug. 13
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| Settlement date: | Aug. 18
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| Stock exchange: | Nasdaq: CNFR
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