Neptune Insurance Holdings, the parent company of Neptune Flood, has launched an initial public offering (IPO) that could raise up to $423.7 million.
They also intend to grant underwriters a 30-day option to purchase up to an additional 2,763,157 shares of Class A common stock.
Earlier this month, Neptune filed a registration statement with the U.S. Securities and Exchange Commission for the proposed IPO.
The firm has now applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol “NP”.
Neptune disclosed that Morgan Stanley is acting as lead left bookrunner for the proposed offering, while J.P. Morgan and BofA Securities are acting as active bookrunners.
At the same time, BMO Capital Markets, Goldman Sachs & Co. LLC, Evercore ISI, Deutsche Bank Securities, Keefe, Bruyette & Woods, a Stifel Company, Mizuho, Piper Sandler, Raymond James and TD Securities are acting as joint bookrunners. Dowling & Partners Securities LLC is acting as co-manager.
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