Ategrity Specialty Raises $113M IPO, Shares Open at $23.65 NYSE

Ategrity Specialty Insurance Company launched its initial public offering (IPO) by offering approximately 6.7 million shares at $17 each, surpassing its initially anticipated price range of $14 to $16. The IPO raised around $113.3 million in gross proceeds, which the company plans to use for business growth and other purposes. Ategrity, specializing in excess and surplus insurance for small to medium-sized U.S. businesses, debuted on the New York Stock Exchange (NYSE) under the ticker symbol "ASIC," with shares opening at $23.65, reflecting strong investor demand. JPMorgan and Barclays served as joint lead book-running managers for the offering, which also included a 30-day option for underwriters to purchase an additional 1 million shares. The company's IPO debut coincided with other market activities, including the listing of Voyager Technologies on the NYSE. Ategrity was founded in 2018 with funding from Zimmer Financial Services Group, emphasizing its focus on niche insurance markets.