Reported Earlier, Palomar Prices $25M Public Offering Of 1.2M Common Shares At $88/Share
Portfolio Pulse from Benzinga Newsdesk
Palomar Holdings, Inc. (PLMR) has priced a $25 million public offering of 1.2 million common shares at $88 per share. The proceeds will be used for general corporate purposes, including the acquisition of First Indemnity of America Insurance Company and to fund future growth.
August 09, 2024 | 6:52 am
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Palomar Holdings, Inc. (PLMR) has announced a $25 million public offering of 1.2 million common shares at $88 per share. The funds will be used for general corporate purposes, including the acquisition of First Indemnity of America Insurance Company and to support future growth.
The public offering will provide Palomar with additional capital to finance its acquisition of First Indemnity of America Insurance Company and support future growth. This is likely to be viewed positively by investors as it indicates strategic expansion and financial strengthening.
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