US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

Equity Capital Markets

Ategrity Specialty Holdings / Equity Capital Markets

<ul>
<li>Ategrity Specialty Holdings LLC (ASIC) priced a full-size deal of 6.67mm shares at $17.00 ($1 above the range) and opened at $23.65 for a gain of 39.1% at first trade.</li>
<li>The underwriters felt good about this IPO enough that they elected to accelerate the timing of this deal by a single day.</li>
<li>This insurance company was a pure-play E&amp;S with higher regards given to this niche area by sector-dedicated investors.</li>
</ul>


Ategrity Specialty Holdings LLC (ASIC) priced a full-size deal of 6.67mm shares at $17.00 ($1 above the range) and opened at $23.65 for a gain of 39.1% at first trade.
The underwriters felt good about this IPO enough that they elected to accelerate the timing of this deal by a single day.
This insurance company was a pure-play E&amp;S with higher regards given to this niche area by sector-dedicated investors.


Ategrity Specialty Holdings LLC (ASIC): Insurance Sector Stays Hot, Pops 6 Points at Open

<ul>
<li>Ategrity Specialty Holdings (ASIC US) has elected to push pricing ahead by one-day due to the strength of the order book.</li>
<li>According to our sources, the deal is multiple-times oversubscribed with quality conversions from 1-on-1 meetings.</li>
<li>This IPO is being well-received. Insurance IPOs are not the type of deal that is "flashy" out of the gates but is one that is geared toward buy-and-hold investors.</li>
</ul>


Ategrity Specialty Holdings (ASIC US) has elected to push pricing ahead by one-day due to the strength of the order book.
According to our sources, the deal is multiple-times oversubscribed with quality conversions from 1-on-1 meetings.
This IPO is being well-received. Insurance IPOs are not the type of deal that is "flashy" out of the gates but is one that is geared toward buy-and-hold investors.


Ategrity Specialty Holdings LLC (ASIC): Accelerated Deal, Valuation Fits the Bill for Insurance IPO

Slide Insurance Holdings / Equity Capital Markets

<ul>
<li>Slide Insurance Holdings (SLDE US) will be the fourth insurance company to go public in the first half of 2025.</li>
<li>The company is offering 20 million shares at $15-$17 equating to a $1.9b-$2.1b  market cap.</li>
<li>We anticipate there to be solid interest in this IPO based upon sector tailwinds. The company considers itself an "insurtech" which could create a different investor profile for this deal.</li>
</ul>


Slide Insurance Holdings (SLDE US) will be the fourth insurance company to go public in the first half of 2025.
The company is offering 20 million shares at $15-$17 equating to a $1.9b-$2.1b  market cap.
We anticipate there to be solid interest in this IPO based upon sector tailwinds. The company considers itself an "insurtech" which could create a different investor profile for this deal.


Slide Holdings Insurance, Inc.(SLDE): Another Insurance IPO Sets Terms, Seeking $2bn Valuation

<ul>
<li>They write several homeowners’, condominium owners’, and commercial residential products in coastal specialty markets in Florida and South Carolina.</li>
<li>For the three months ended March 31, 2024 and March 31, 2025, they had gross premiums written of $245 million and $278 million.</li>
<li>The strong performance of peers could provide a potential tailwind for this IPO. </li>
</ul>


They write several homeowners’, condominium owners’, and commercial residential products in coastal specialty markets in Florida and South Carolina.
For the three months ended March 31, 2024 and March 31, 2025, they had gross premiums written of $245 million and $278 million.
The strong performance of peers could provide a potential tailwind for this IPO. 


Slide Holdings Insurance, Inc.(SLDE): Peeking at the IPO Prospectus of Another Florida Based Insurer

American Integrity Insurance Group / Equity Capital Markets

American Integrity Insurance Group (AII US)

<ul>
<li>Specialty insurer American Integrity Insurance Group (AII US) came to market Thursday with solid interest from sector-dedicated investors producing a 15.6% winner at first trade.</li>
<li>According to our sources, the deal was well-oversubscribed which equates to roughly 5x-6x in terms of granular subscription levels.</li>
<li>Given the choppiness of the broad market in April and the temporary pause in the IPO market, the insurance sector was the perfect area to lead the comeback.</li>
</ul>


Specialty insurer American Integrity Insurance Group (AII US) came to market Thursday with solid interest from sector-dedicated investors producing a 15.6% winner at first trade.
According to our sources, the deal was well-oversubscribed which equates to roughly 5x-6x in terms of granular subscription levels.
Given the choppiness of the broad market in April and the temporary pause in the IPO market, the insurance sector was the perfect area to lead the comeback.


American Integrity Insurance Group (AII): Sector Dedicated Buyers Get a Winner on Opening Pop

United States

American Integrity Insurance Group, Inc. operates as an insurance company. The Company offers homeowners, new home construction, binding arbitration, vacant home, condo, watercraft, rental and seasonal dwelling, manufactured home, and golf cart insurance products and services. American Integrity Insurance Group serves clients in the United States.

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American Integrity Insurance Group (AII US)

Ategrity Specialty Holdings LLC (ASIC): Insurance Sector Stays Hot, Pops 6 Points at Open

Ategrity Specialty Holdings LLC IPO priced above range, opened strong with 39.1% gain, showing confidence in niche E&S insurance market.

IPO Boutique

Ategrity Specialty Holdings LLC (ASIC): Accelerated Deal, Valuation Fits the Bill for Insurance IPO

Ategrity Specialty Holdings (ASIC US) moves pricing ahead due to strong demand, with oversubscribed order book and focus on long-term investors...

IPO Boutique

Slide Holdings Insurance, Inc.(SLDE): Another Insurance IPO Sets Terms, Seeking $2bn Valuation

Slide Insurance Holdings is set to go public in 2025, offering 20 million shares at $15-$17 with a market cap of $1.9b-$2.1b.

IPO Boutique

Slide Holdings Insurance, Inc.(SLDE): Peeking at the IPO Prospectus of Another Florida Based Insurer

Insurance company specializing in coastal markets in Florida and South Carolina sees growth in gross premiums written, potentially benefiting from...

IPO Boutique

American Integrity Insurance Group (AII): Sector Dedicated Buyers Get a Winner on Opening Pop

Specialty insurer American Integrity Insurance Group had a successful IPO debut, with strong interest from investors in the insurance sector...

IPO Boutique

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Ategrity Specialty Holdings LLC (ASIC): Insurance Sector Stays Hot, Pops 6 Points at Open

​Ategrity Specialty Holdings LLC IPO priced above range, opened strong with 39.1% gain, showing confidence in niche E&S insurance market.

IPO Boutique

Ategrity Specialty Holdings LLC (ASIC): Accelerated Deal, Valuation Fits the Bill for Insurance IPO

​Ategrity Specialty Holdings (ASIC US) moves pricing ahead due to strong demand, with oversubscribed order book and focus on long-term investors...

IPO Boutique

Slide Holdings Insurance, Inc.(SLDE): Another Insurance IPO Sets Terms, Seeking $2bn Valuation

​Slide Insurance Holdings is set to go public in 2025, offering 20 million shares at $15-$17 with a market cap of $1.9b-$2.1b.

IPO Boutique

Slide Holdings Insurance, Inc.(SLDE): Peeking at the IPO Prospectus of Another Florida Based Insurer

​Insurance company specializing in coastal markets in Florida and South Carolina sees growth in gross premiums written, potentially benefiting from...

IPO Boutique

American Integrity Insurance Group (AII): Sector Dedicated Buyers Get a Winner on Opening Pop

​Specialty insurer American Integrity Insurance Group had a successful IPO debut, with strong interest from investors in the insurance sector...

IPO Boutique

Ategrity Specialty Holdings LLC IPO priced above range, opened strong with 39.1% gain, showing confidence in niche E&S insurance market.

Ategrity Specialty Holdings (ASIC US) moves pricing ahead due to strong demand, with oversubscribed order book and focus on long-term investors...

Slide Insurance Holdings is set to go public in 2025, offering 20 million shares at $15-$17 with a market cap of $1.9b-$2.1b.

Insurance company specializing in coastal markets in Florida and South Carolina sees growth in gross premiums written, potentially benefiting from...

Specialty insurer American Integrity Insurance Group had a successful IPO debut, with strong interest from investors in the insurance sector...