Neptune Insurance Prices IPO at $20 Per Share, Set to Raise $423.7M
Neptune Insurance Holdings Inc. has priced its initial public offering (IPO) at $20 per share, aiming to raise up to $423.7 million. The IPO is set to launch later this month, with shares expected to begin trading on the New York Stock Exchange under the ticker symbol 'NP' on October 1, 2025.
The IPO involves the sale of 18,421,053 shares of Class A common stock. Underwriters have an option to purchase an additional 2,763,157 shares within 30 days of the offering. The offering is scheduled to close on October 2, 2025, subject to customary closing conditions. BMO Capital Markets, Goldman Sachs & Co. LLC, and others are acting as joint bookrunners, with Morgan Stanley as the lead left bookrunner. Neptune filed a registration statement with the U.S. Securities and Exchange Commission for the proposed IPO in early September.
The expected price range for the IPO was $18 to $20 per share. Dowling & Partners Securities LLC is also acting as a co-manager for the offering.
Neptune Insurance's IPO, priced at $20 per share, is set to raise a significant amount for the company. The offering's success will depend on investor demand and market conditions. The shares are expected to start trading on the New York Stock Exchange under the ticker symbol 'NP' on October 1, 2025.
