Latest news with #SlideInsurance
Yahoo
a day ago
- Business
- Yahoo
Slide Insurance (SLDE) Skyrockets 15% on Strong Investor Confidence
Slide Insurance Holdings, Inc. (NASDAQ:SLDE) is one of the Slide Insurance rallied by 15.06 percent on Friday to close at $23.30 apiece, its second day as a publicly listed company, reflecting strong investor confidence. Under its upsized initial public offering (IPO), Slide Insurance Holdings, Inc. (NASDAQ:SLDE) offered 24 million shares at a price of $17 apiece, potentially raising $408 million in fresh funds. Of the total, 16.6 million shares were offered by the company, while the remaining 7.3 million shares were sold by certain stockholders. Slide Insurance Holdings, Inc. (NASDAQ:SLDE) also granted the underwriters a 30-day option to acquire up to 3.6 million shares. A woman in a business suit in an insurance office, analyzing a policy. Slide Insurance Holdings, Inc. (NASDAQ:SLDE) is a technology-enabled property insurance company that offers customizable coverage options that suit their unique needs and budgets. While we acknowledge the potential of SLDE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
3 days ago
- Business
- Yahoo
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. Housing market weakness triggers Lennar to offer biggest incentives since 2009 The Trump administration is trying to bring back asbestos How one company is revolutionizing the way we use everyday water 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. 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. Slide's slock will have the ticker SLDE. Slide will trade its shares on the Nasdaq Global Select Market. Slide's IPO price is $17 per share. That's at the higher end of an estimated target range it announced earlier this month. 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. Slide should receive $283 million in its IPO. 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. 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. This post originally appeared at to get the Fast Company newsletter: 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
Reuters
4 days ago
- Business
- Reuters
Coastal insurer Slide, investors raise $408 million in US IPO
June 17 (Reuters) - Slide Insurance and some of its existing shareholders raised $408 million in an upsized initial public offering, the coastal specialty insurer said on Tuesday, signaling strong investor demand in a buoyant market for new listings. The Tampa, Florida-based company, along with some backers such as HSCM Bermuda, sold 24 million shares priced at $17 apiece. It had earlier aimed to sell 20 million shares priced between $15 and $17 each. The insurance sector has emerged as a focal point in the IPO market, which is rebounding after sweeping tariffs introduced during President Donald Trump's administration temporarily shut the window for weeks. Recent listings in the industry include Apollo-backed Aspen Insurance (AHL.N), opens new tab, Florida-based American Integrity Insurance (AII.N), opens new tab and specialty insurer Ategrity (ASIC.N), opens new tab, all of which went public in New York since May. Founded in 2021, Slide provides family and condominium insurance policies for coastal states along the Atlantic seaboard. The company's business is heavily concentrated in Florida, a market where some large national insurers have scaled back their presence in recent years due to frequent natural disasters. It is led by Bruce Lucas, who previously founded and headed Florida-based Heritage Insurance (HRTG.N), opens new tab. While new stock market entrants have generally been well received by investors, analysts say that sustained stable trading beyond the initial listing day will be crucial for bolstering confidence in the IPO market. "Companies that are kicking the tires on going public want to see sustained, stable trading versus just a first day pop and a subsequent drop," said Jeff Zell, senior research analyst at IPO Boutique. Among the companies recently added to the IPO pipeline are gold and copper producer Aura Minerals ( opens new tab, beef producer Kilcoy Global Foods and community bank CoastalSouth Bancshares ( opens new tab. Slide's shares are set to begin trading on the Nasdaq under the symbol "SLDE" on Wednesday. Barclays and Morgan Stanley were the lead underwriters for the offering.
Reuters
4 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.
Yahoo
5 days ago
- Business
- Yahoo
Coastal insurer Slide, investors raise $408 million in US IPO
By Arasu Kannagi Basil (Reuters) -Slide Insurance and some of its existing shareholders raised $408 million in an upsized initial public offering, the coastal specialty insurer said on Tuesday, signaling strong investor demand in a buoyant market for new listings. The Tampa, Florida-based company, along with some backers such as HSCM Bermuda, sold 24 million shares priced at $17 apiece. It had earlier aimed to sell 20 million shares priced between $15 and $17 each. The insurance sector has emerged as a focal point in the IPO market, which is rebounding after sweeping tariffs introduced during President Donald Trump's administration temporarily shut the window for weeks. Recent listings in the industry include Apollo-backed Aspen Insurance, Florida-based American Integrity Insurance and specialty insurer Ategrity, all of which went public in New York since May. Founded in 2021, Slide provides family and condominium insurance policies for coastal states along the Atlantic seaboard. The company's business is heavily concentrated in Florida, a market where some large national insurers have scaled back their presence in recent years due to frequent natural disasters. It is led by Bruce Lucas, who previously founded and headed Florida-based Heritage Insurance. While new stock market entrants have generally been well received by investors, analysts say that sustained stable trading beyond the initial listing day will be crucial for bolstering confidence in the IPO market. "Companies that are kicking the tires on going public want to see sustained, stable trading versus just a first day pop and a subsequent drop," said Jeff Zell, senior research analyst at IPO Boutique. Among the companies recently added to the IPO pipeline are gold and copper producer Aura Minerals, beef producer Kilcoy Global Foods and community bank CoastalSouth Bancshares. Slide's shares are set to begin trading on the Nasdaq under the symbol "SLDE" on Wednesday. Barclays and Morgan Stanley were the lead underwriters for the offering. Sign in to access your portfolio
