The Fortegra Group LLC, a specialty insurer, has filed Amendment No 2 to Form S-1 Registration Statement on April 20, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.
The company plans to raise $133 million by offering 8.3 million shares at a price range of $15 to $17. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $938 million.
The company focus on niche business lines and fee-oriented services, providing them with a unique combination of specialty insurance program underwriting, warranty and service contract products and related service solutions.
The Jacksonville, Florida-based company was founded in 1981 and booked $691 million in revenue for the 12 months ended December 31, 2020. It plans to list on the NYSE under the symbol “FRF.” Securities and Barclays are underwriters of the IPO.
The company engages Ropes & Gray LLP as US Securities Counsel, and PricewaterhouseCoopers Zhong Tian LLP as Independent Auditor.
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