Skyward Specialty Insurance Group Inc., commonly known as SKWD, recently unveiled the pricing details of its secondary offering of 4.40 million shares. These shares are being provided by The Westaim Corporation through its fully-owned offspring, Westaim HIIG GP, priced at $36.50 each.
Additionally, the seller, known as the Selling Stockholder, has offered the underwriters the privilege of purchasing a further 660,000 shares of Skyward Specialty’s common stock within a 30-day period. In the aftermath of this transaction, the Selling Stockholder will possess a 4.80% or a 6.45% stake in Skyward Specialty, contingent on whether the underwriters seize this opportunity to buy the additional shares.
Furthermore, Skyward Specialty has clarified that it won’t reap any benefits from the sale of these shares offered by the Selling Stockholder. Instead, the Selling Stockholder will assume responsibility for the underwriting discounts and commissions linked with the sale of these shares.
