WAYZATA, Minn., July 20, 2020 (GLOBE NEWSWIRE) — Trean Insurance Group, Inc. (Nasdaq: TIG) today announced the closing of its initial public offering of 10,714,286 shares of common stock. Trean also announced the exercise by the underwriters of their overallotment option to purchase an additional 1,207,142 shares of common stock. The overallotment closing is expected to occur on July 22, 2020, subject to customary closing conditions.
In total, Trean issued and sold 7,142,857 shares of common stock and the selling stockholders sold 4,778,571 shares, including the additional 1,207,142 shares sold by certain of the selling stockholders pursuant to the underwriters’ overallotment option. Trean will not receive any proceeds from the sale of shares by the selling stockholders.J.P. Morgan, Evercore ISI and William Blair acted as joint book-running managers for the offering. JMP Securities acted as a co-manager. This offering was made only by means of a prospectus. A copy of the final prospectus may be obtained from J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866-803-9204 or email at [email protected]; Evercore Group, L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, or by telephone at 1-888-474-0200 or email at [email protected]; or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, or by telephone at 1-800-621-0687 or email at [email protected].The registration statement relating to these securities has been declared effective by the Securities and Exchange Commission. Copies of the registration statement can be accessed through the Securities and Exchange Commission’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.About Trean Insurance Group, Inc.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.ContactsTrean Insurance Group, Inc.
Julie A. Baron
Chief Financial Officer, Treasurer and Secretary
(952) 974-2200
[email protected]
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