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The IPO Buzz: Slide Insurance (SLDE) Prices Upsized IPO at $17 – High End

Tuesday, June 17, 2025 20:25

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Slide Insurance Holdings Inc. (SLDE) increased its IPO’s size by 20 percent to 24 million shares and priced the IPO at $17.00 – the high end of its $15.00-to-$17.00 range – to raise $408 million on Tuesday night, June 17, 2025. The Florida home and condo insurer had a market cap at of about $2.18 billion at pricing. Slide Insurance’s stock is expected to start trading tomorrow – Wednesday, June 18 – on the NASDAQ. Barclays and Morgan Stanley served as the lead joint book-runners. Citizens Capital, Keefe, Bruyette & Woods and Piper Sandler also served on the joint book-running team. “It’s profitable, it’s an insurance company, and I like it,” an IPO player said of Slide. A veteran IPO pro said that he had heard that “dedicated insurance-sector accounts” were likely to get most of the allocations. Slide Insurance, based in Tampa, Florida, specializes in providing property & casualty insurance to the owners of single-family homes and condominiums along Florida’s coastline, according to the prospectus. About 99 percent of Slide Insurance’s business is in Florida. The company also serves clients in South Carolina. The black ink on the balance sheet helped seal the deal. For the 12 months that ended March 31, 2025, Slide Insurance reported net income of $238.92 million on revenue of $929.28 million, according to financial statements in the prospectus.

Source: https://www.iposcoop.com/the-ipo-buzz-slide-insurance-slde-prices-upsized-ipo-at-17-high-end/

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