1347 Property Insurance Holdings Inc., a property and casualty insurance holding company offering homeowners and dwelling insurance to individuals in Louisiana through its wholly-owned subsidiary Maison Insurance Co., announced the pricing of its initial public offering of 1,887,500 shares of its common stock at a price to the public of $8.00 per share.
PIH has granted the representative of the underwriters a 45-day option to purchase up to 283,125 additional shares of common stock to cover over-allotments, if any.
Shares of PIH common stock are expected to trade on The NASDAQ Capital Market under the symbol “PIH” beginning on or about April 1, 2014. The closing of the offering is expected on or about April 4th, 2014 subject to customary closing conditions.
Aegis Capital Corp. is acting as sole book-running manager for the offering.
EarlyBirdCapital Inc. is acting as a co-manager for the offering.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 31, 2014.
1347 Property Insurance Holdings Inc. is incorporated in Delaware.
Source: 1347 Property Insurance Holdings Inc.
Topics Carriers Louisiana New Markets Property
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