Palomar Holdings Proposes $25M Public Offering Of 1.2M Shares Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Palomar Holdings, Inc. (NASDAQ:PLMR) announced a $25 million public offering of 1.2 million shares of common stock. The proceeds will be used for general corporate purposes, including the acquisition of First Indemnity of America Insurance Company and funding future growth.
August 08, 2024 | 9:59 pm
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Palomar Holdings announced a $25 million public offering of 1.2 million shares to fund the acquisition of First Indemnity of America Insurance Company and future growth.
The announcement of a public offering typically leads to a short-term decrease in stock price due to dilution concerns. However, the use of proceeds for acquisition and growth could be positive in the long term.
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