Slide Insurance announced the exercise of an underwriter option for 3.6 million additional shares, totaling approximately $469.2 million in proceeds.
Quiver AI Summary
Slide Insurance Holdings, Inc. announced that underwriters have fully exercised their option to purchase an additional 3,600,000 shares of common stock in connection with its recent initial public offering, closing the transaction on June 25, 2025. This move raises the total gross proceeds from the IPO to approximately $469.2 million, although Slide will not receive any of the proceeds from this additional share sale. Barclays and Morgan Stanley served as joint book-running managers for the offering, with several other firms acting as co-managers. A registration statement related to the offering was filed and declared effective on June 17, 2025. Slide is a technology-enabled insurance company that simplifies the process of selecting homeowner insurance through the use of AI and big data.
Potential Positives
- Underwriters fully exercised their option to purchase an additional 3,600,000 shares, indicating strong demand and investor confidence in Slide's initial public offering.
- The gross proceeds from the initial public offering, totaling approximately $469.2 million, represent a significant financial milestone for the company and its shareholders.
- The successful completion of the offering enhances Slide's financial position and may provide resources for further growth and expansion in the insurance market.
- Slide's use of advanced technology and AI to streamline the insurance process positions it well within the evolving insurance landscape, attracting investor interest.
Potential Negatives
- Slide will not receive any proceeds from the sale of the additional shares, which may indicate a reliance on selling stockholders for funding rather than generating capital through operations.
- The exercise of the underwriters' option suggests they had confidence that there was sufficient demand for the additional shares, which may imply that the stock's value could be under pressure post-IPO.
- As the company is not receiving proceeds from the selling stockholders, it may raise questions about its financial stability or need for additional funding from other sources.
FAQ
What is the recent news about Slide Insurance Holdings, Inc.?
Slide Insurance announced that underwriters fully exercised their option to purchase 3,600,000 additional shares, raising IPO proceeds to approximately $469.2 million.
How much did Slide Insurance raise from the IPO?
Slide Insurance and the selling stockholders received approximately $469.2 million from the IPO, including the additional shares sold.
Who managed the Slide Insurance IPO offering?
Barclays and Morgan Stanley served as joint book-running managers, with co-managers including Citizens Capital Markets and others.
Where can I find the final prospectus for Slide's offering?
The final prospectus can be found on the SEC’s website at www.sec.gov or obtained from Barclays and Morgan Stanley's offices.
Is this press release an offer to buy Slide securities?
No, this press release does not constitute an offer or solicitation to buy Slide securities.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SLDE Insider Trading Activity
$SLDE insiders have traded $SLDE stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.
Here’s a breakdown of recent trading of $SLDE stock by insiders over the last 6 months:
- ROBERT JR GRIES sold 358,457 shares for an estimated $5,667,205
- BETH WITTE BRUCE sold 19,831 shares for an estimated $313,528
- STEPHEN L ROHDE sold 7,083 shares for an estimated $111,982
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
Full Release
TAMPA, Fla., June 25, 2025 (GLOBE NEWSWIRE) -- Slide Insurance Holdings, Inc. (“Slide”) (Nasdaq: SLDE) today announced that, in connection with its previously completed initial public offering of its common stock, the underwriters have fully exercised their option to purchase an additional 3,600,000 shares of common stock from certain selling stockholders of Slide. The purchase of the additional shares closed on June 25, 2025, bringing the gross proceeds from the initial public offering to Slide and the selling stockholders to approximately $469.2 million. Slide will not receive any proceeds from the sale by such selling stockholders of the additional shares.
Barclays and Morgan Stanley acted as joint book-running managers for the offering. Citizens Capital Markets, Keefe, Bruyette & Woods, A Stifel Company , and Piper Sandler acted as co-managers for the offering.
A registration statement on Form S-1 relating to the offering has been filed with the Securities and Exchange Commission and was declared effective on June 17, 2025. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the final prospectus may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (or by email at [email protected] or telephone at 1-888-603-5847) or Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended, and otherwise in accordance with applicable securities laws in any other jurisdiction.
About Slide
Slide is a technology-enabled insurance company that makes it easy for homeowners to choose the right coverage for their unique needs and budgets. Slide's cutting-edge technology leverages artificial intelligence and big data to optimize and streamline every part of the insurance process. Based in Tampa, FL, Slide was founded by Bruce and Shannon Lucas, insurance insiders with a deep understanding of how technology can be applied to achieve better underwriting outcomes.
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