Neptune Insurance Holdings Inc., the parent company of managing general agent Neptune Flood, has announced the pricing of its initial public offering (IPO) for the sale of 18,421,053 shares of its Class A common stock at $20 per share.
The shares are anticipated to begin trading on the New York Stock Exchange under the ticker symbol “NP” on October 1, 2025.
The offering is expected to close on October 2, 2025, subject to customary closing conditions.
Additionally, underwriters have a 30-day option to purchase up to an additional 2,763,157 shares of Class A common stock at the IPO price, less underwriting discounts and commissions.
At $20 per share, Neptune Insurance could raise up to $423.7 million.
Morgan Stanley acted as the lead left bookrunner for the proposed offering, with J.P. Morgan and BofA Securities as active bookrunners.
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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