Skyward Specialty Insurance Group Inc. (SKWD) announced the pricing of its secondary offering of 4.40 million shares being offered by The Westaim Corporation, through its wholly-owned subsidiary, Westaim HIIG GP at $36.50 per share.
The Selling Stockholder has also granted the underwriters a 30-day option to purchase up to an additional 660,000 shares of Skyward Specialty's common stock. The Selling Stockholder will hold 4.80% and 6.45% in Skyward Specialty, assuming full and no exercise of the underwriters' option to purchase the additional shares, respectively.
Skyward Specialty noted that it will not receive any of the proceeds from the sale of the shares of its common stock offered by the Selling Stockholder, and the Selling Stockholder will bear the underwriting discounts and commissions associated with the sale of such shares.
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