RICHMOND, Va.–(BUSINESS WIRE)–Kinsale Capital Group, Inc. (NYSE: KNSL) today announced the pricing of its underwritten public offering of 155,000 shares of common stock. In addition, the Company has granted the underwriter a 30-day option to purchase up to an additional 23,250 shares of common stock. Subject to customary conditions, the offering is expected to close on November 15, 2022.
The Company expects to use the proceeds from the offering of the shares for general corporate purposes, including to fund organic growth.
The offering is expected to yield gross proceeds of approximately $48.4 million, assuming no exercise of the underwriter’s option to purchase additional shares.
J.P. Morgan is acting as underwriter for the offering.
The underwriter may offer the common stock from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.
About Kinsale Capital Group, Inc.
Kinsale Capital Group, Inc. is a specialty insurance group headquartered in Richmond, Virginia, focusing on the excess and surplus lines market.