Latest news with #Slide
Reuters
3 days ago
- Business
- Reuters
Slide valued at over $2.6 billion in debut after biggest insurance IPO of the year
June 18 (Reuters) - Slide Insurance (SLDE.O), opens new tab secured a valuation of $2.62 billion after its shares gained nearly 24% in their Nasdaq debut on Wednesday after closing the biggest insurance listing this year, as public markets steadily recover. The U.S. insurtech's stock opened at $21 apiece, compared with the IPO price of $17, boosting prospects for other companies looking to offer first-time share sales. The coastal insurer and some of its existing stockholders on Tuesday sold 24 million shares in an upsized offering, at the top of its marketed range of $15 to $17 per share, raising $408 million. That beats Apollo Global-backed Aspen Insurance (AHL.N), opens new tab, which last month raised $397.5 million in its NYSE IPO. Slide's debut marks the latest in a string of successes for companies offering first-time share sales. Stablecoin issuer Circle Internet(CRCL.N), opens new tab and digital bank Chime(CHYM.O), opens new tab also made stellar debuts in New York earlier this month, a trend that is gaining momentum on prospects of easing U.S. trade policy. U.S. President Donald Trump's erratic trade and foreign policy gambits, paired with a ballooning U.S. debt, have led to alarming market volatility this year. However, predictable cash flows and underwriting profitability make insurers an attractive listing candidate, according to Kat Liu, vice president at IPOX. Founded in 2021, Slide provides homeowners and property coverage through both agents and direct channels, targeting coastal areas along the Atlantic seaboard. Filings show 99.5% of the company's policies are concentrated in Florida, where some insurers are pulling back, due to its history of natural disasters, primarily hurricanes. "Slide has carved out a profitable niche in a dense, high-demand region with low underwriting capacity, as many insurers avoid this area due to the elevated risk or poor historical pricing models," Liu added. Company CEO Bruce Lucas, who founded and led Heritage Insurance (HRTG.N), opens new tab earlier, stands out as one of the highest-paid executives in the sector. Lucas's $21.2 million total compensation for 2024 is notable even when compared to large carriers like Allstate (ALL.N), opens new tab and UnitedHealth (UNH.N), opens new tab. "This level of executive pay could raise governance concerns, especially if it appears disconnected from long-term shareholder value," Liu said.
Reuters
3 days ago
- Business
- Reuters
Sixth Street-backed Caris Life valued at $7.66 billion in strong Nasdaq debut
June 18 (Reuters) - Caris Life Sciences' (CAI.O), opens new tab shares jumped nearly 29% in their New York debut on Wednesday, fetching the cancer diagnostic firm a valuation of $7.66 billion and signaling a growing investor appetite for new listings in 2025. The shares opened at $27 apiece, compared with their offer price of $21, at which Caris Life sold 23.5 million shares to raise $494.1 million on Tuesday. U.S. IPO market activity has shown signs of a sustained revival with a few fresh listings such as Circle and Chime (CHYM.O), opens new tab getting overwhelming support from investors in the past couple of weeks, after a slow start to the year. Shares of insurance tech firm Slide (SLDE.O), opens new tab jumped nearly 24% in their Nasdaq debut on Wednesday as well.
Yahoo
3 days ago
- Business
- Yahoo
Sixth Street-backed Caris Life valued at $7.66 billion in strong Nasdaq debut
(Reuters) -Caris Life Sciences' shares jumped nearly 29% in their New York debut on Wednesday, fetching the cancer diagnostic firm a valuation of $7.66 billion and signaling a growing investor appetite for new listings in 2025. The shares opened at $27 apiece, compared with their offer price of $21, at which Caris Life sold 23.5 million shares to raise $494.1 million on Tuesday. U.S. IPO market activity has shown signs of a sustained revival with a few fresh listings such as Circle and Chime getting overwhelming support from investors in the past couple of weeks, after a slow start to the year. Shares of insurance tech firm Slide jumped nearly 24% in their Nasdaq debut on Wednesday as well.
Daily Record
3 days ago
- Lifestyle
- Daily Record
£40 Slip Slide brings 'hours of fun' this summer and gets kids away from screens
'The children absolutely loved this!! They spent hours on it, really used up some energy too!' With the summer holidays fast approaching, many parents may be looking for ways to get their kids outside to enjoy the warm weather and step away from their digital devices for a couple of hours. One fun item to buy that is sure to get everyone outdoors having fun is a slip and slide. Not only will it be sure to provide a barrel of laughs, it will also keep your children cool during the upcoming heatwave that is set to sweep the country. Amazon is currently selling the JOYIN 685cm Slip Slide that comes with two bodyboards for £39.50. Currently one of the retailer's top choices, the slide boasts over 5,000 ratings and has been bought by over 1,000 shoppers in the last month. This 685cm slip and slide comes with two lanes which bring an added element of fun for kids as they race down the track on their inflatable bodyboards. Along with a built-in sprinkler down the middle of the lanes, the slide also comes with six ground stakes to make sure the mat stays in place at all times. The slide also has the added bonus of being easy to set up. All shoppers need to do is carefully unroll the slide, secure the bumper at the end and use the spikes to hold the slide in place. After the slide has been made wet and connected to water, an afternoon of fun is ready to begin. It is recommended that the water flow rate of the external faucet should be around 16L/Min in to order to achieve the best water spray effect. With bright vibrant colours, you kids will be racing out the door the second they see the slide being set up. JOYIN 685cm Slip Slide Product Description Alternatively, Amazon is also selling the Sloosh Huge Water Slide with two inflatable boards for £43.99. With dimensions of 30ft by 6ft, this water slide is easy to set up and is said to provide 'maximum wetness and maximum wheee!' Over on Debenhams, the retailer is also selling the Bestway H2O GO! 16ft Slip 'N' Slide for £24.99. Created with a Ultra Slick PVC, this slide will provide kids with more slip and less grip which will let them go faster as they race to the bottom. Back to the JOYIN Slip Slide, many Amazon shoppers have left rave reviews about how much joy this slide brought to their kids last summer and how it helped pull them away from their screens for a wee while. One happy shopper said: "The children absolutely loved this!! They spent hours on it, really used up some energy too! Gave them a lot of fun and joy. Definitely recommend!" With another adding on: "This product was fantastic in the summer. Hours of wet fun, the water comes up through the little holes in the middle part like a sprinkler, comes with two inflatable small body board type things to hold on to whilst sliding down. "We used it with slime also absolutely fantastic fun, very durable. Comes with ground pegs also to keep it in place, would recommend for some cheap summer fun." However, one shopper wasn't completely happy with the sprinklers, writing: "Great outdoor fun for the kids. Sprinklers don't come from either side and the middle. Only from the middle and don't come up as high as the advert." With another shopper noting: "Great delivery my two sons nine and 12 loved this a played on the slide for two hours. The board popped after using them twice. But the side is great. Just get some floats. Happy boys in the sun!" Despite this, a five-star reviewer said: "This was well worth the money. Wish I'd spent the extra fiver and got the triple lane! Kids aged eight, 10 and 12 love it. Good quality, easy to set up. And mumma can sit in peace now while kids are entertained without looking at a screen. Thank you Amazon!!" While another commented: "This slide is great quality and was easy to set up. The pegs provided keep it secure to the ground so you don't have to re-adjust when using. Our family had lots of fun using this and think it's great value for money." To buy the JOYIN 685cm Slip Slide, click HERE. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'.
Fast Company
3 days 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.
