HCI Group Announces Public Filing of Registration Statement for Proposed Initial Public Offering of Subsidiary TypTap Insurance Group, Inc.
November 08 2021 - 4:35PM
HCI Group, Inc. (NYSE: HCI) today announced that
its majority owned subsidiary, TypTap Insurance Group, Inc., has
publicly filed a registration statement on Form S-1 with the U.S.
Securities and Exchange Commission (the “SEC”) in connection with
the proposed initial public offering of TypTap’s common stock. The
number of shares to be offered and the price range for the proposed
offering have not yet been determined. The offering is subject to
market conditions, and there can be no assurance as to whether or
when the offering may be completed or as to the actual size or
terms of the offering.
JMP Securities LLC and Truist Securities, Inc.
are acting as lead book-runners, and Oppenheimer & Co. Inc. is
acting as joint book-runner for the proposed offering. Dowling and
Partners Securities, LLC, Fifth Third Securities, Inc. and
TigerRisk Capital Strategies LLC are acting as co-managers for the
proposed offering.
The proposed offering will be made only by means
of a prospectus. Copies of the preliminary prospectus, when
available, may be obtained from: JMP Securities LLC, 600 Montgomery
Street, 10th Floor, San Francisco, CA 94111, Attention: Prospectus
Department, or by calling (415) 835-8985, or by email at
syndicate@jmpsecurities.com; and Truist Securities, Inc., 3333
Peachtree Road NE, 9th Floor, Atlanta, GA 30326, Attention:
Prospectus Department, or by email at
truistsecurities.prospectus@truist.com.
A registration statement on Form S-1 relating to
these securities has been filed with the SEC but has not yet become
effective. These securities may not be sold, nor may offers to buy
be accepted, prior to the time the registration statement becomes
effective. This press release does not constitute an offer to sell
or the solicitation of an offer to buy these securities, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
About HCI Group, Inc.
HCI Group, Inc. owns subsidiaries engaged in
diverse, yet complementary business activities, including
homeowners insurance, reinsurance, real estate and information
technology services. HCI’s leading insurance operation, TypTap
Insurance Group, Inc., is a technology-driven insurance company
that leverages extensive data and AI-enabled analytics to better
select and price homeowners insurance risk. HCI’s largest
subsidiary, Homeowners Choice Property & Casualty Insurance
Company, Inc., provides homeowners insurance primarily in Florida.
HCI’s real estate subsidiary, Greenleaf Capital, LLC, owns and
operates multiple properties in Florida, including office
buildings, retail centers and marinas.
Company Contact:Andrew L.
Graham.General CounselHCI Group, Inc. Tel (813) 405-3615
agraham@hcigroup.com
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