Latest news with #ShannonLucas
Fast Company
11 hours ago
- Business
- Fast Company
Slide Insurance IPO: Stock price will be closely watched today as insurtech firm debuts on the Nasdaq
Slide Insurance Holdings is set to debut on the Nasdaq today. The residential insurance company out of Florida will make its initial public offering for $17 per share. Here's everything you need to know about Slide's IPO. What is Slide? Slide is a 'technology-enabled' insurance company for homeowners. Bruce and Shannon Lucas launched Slide in 2022 with coverage options for home, condo, and commercial residential owners. The coastal company has over 5,000 agents across Florida and South Carolina. When is Slide's IPO? Slide announced its share price on Tuesday and should list its stock today, Wednesday, June 18. The offer is expected to close two days later, on Friday, June 20. What is Slide's stock ticker? Slide's slock will have the ticker SLDE. Which exchange will Slide's shares trade on? Slide will trade its shares on the Nasdaq Global Select Market. What is the IPO share price of Slide? Slide's IPO price is $17 per share. That's at the higher end of an estimated target range it announced earlier this month. How many Slide shares are available in its IPO? There will be 24 million shares of SLDE released as part of the IPO. Slide is providing 16,666,667 of these shares, while stockholders are selling the remaining 7,333,333 shares. These selling stockholders are also granting underwriters 30 days to purchase another 3.6 million shares. How much will Slide raise in its IPO? Slide should receive $283 million in its IPO. Is Slide profitable? According to a filing with the Securities and Exchange Commission (SEC), Slide's total revenue for 2024 increased to $846.8 million, from $468.5 million in 2023. It continues to grow, reporting $281.5 million in revenue for the first quarter of 2025, compared to $199.1 million for the same period in the year prior. The company reported net income of $201 million last year, up from $87 million in 2023. What else is there to know? Despite the current economic turmoil, many companies are still proceeding with IPOs—and finding success. Fintech companies Chime Financial and Circle Internet Group had positive results after debuting this month on the Nasdaq and the New York Stock Exchange, respectively. Each saw their stock shoot up to well above their IPO price, a positive sign for upcoming offerings like Slide.
Yahoo
10-06-2025
- Business
- Yahoo
Slide Insurance launches IPO to raise up to $340m
Slide Insurance Holdings has announced its initial public offering (IPO) in the US, aiming to raise up to $340m. In its press statement, the company said it will be offering 20 million shares of common stock priced between $15 and $17 each. Slide will sell 16.67 million shares, while certain selling shareholders will offer 3.33 million. The shares are set to trade on the Nasdaq Global Select Market under the ticker SLDE. The IPO could value Slide at up to $2.12bn, according to Bloomberg and Reuters. Slide was founded in 2021 by Bruce and Shannon Lucas. It is a technology-enabled insurer focusing on underwriting single-family and condominium policies in coastal states along the Atlantic seaboard. The company's business model includes acquiring policies through block acquisitions and renewals, as well as generating new business through independent agents and a direct-to-consumer channel. This approach allows Slide Insurance to sell its products directly to consumers, bypassing other intermediaries, the company said in the filing last month. In the first quarter of 2025 (Q1 2025), Slide Insurance reported net income of $92.5m, an increase from $54.7m in the same quarter the previous year. The company's total revenue for the quarter rose to $281.5m, up from $199.1m in Q1 2024. Gross written premiums reached $278.2m in Q1 2025, compared with $244.6m the prior year. Barclays and Morgan Stanley are leading the IPO, with Citizens Capital Markets, Keefe, Bruyette & Woods, and Piper Sandler as co-managers, as per the press release. "Slide Insurance launches IPO to raise up to $340m " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
