Trean Insurance Group (TIG) IPO Opens 14% Higher

Today's IPO for Trean Insurance Group, Inc. (NYSE: TIG) opened for trading at $17.05 after pricing 10,714,286 shares of common stock at a price of $15.00 per share.

Trean is offering 7,142,857 shares of common stock and the selling stockholders named in the prospectus are offering 3,571,429 shares of common stock. The underwriters have a 30-day option to purchase up to an additional 1,607,142 shares of common stock from certain of the selling stockholders. Trean will not receive any proceeds from the sale of shares by the selling stockholders.

J.P. Morgan, Evercore ISI and William Blair are acting as joint book-running managers for the offering. JMP Securities is acting as a co-manager.

Trean Insurance Group, Inc. provides products and services to the specialty insurance market. Trean underwrites specialty casualty insurance products both through its program partners and its own managing general agencies. Trean also provides its program partners with a variety of services including issuing carrier services, claims administration and reinsurance brokerage. Trean is licensed to write business across 49 states and the District of Columbia.

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