Latham & Watkins Advises on Skyward Specialty’s Upsized IPO
Skyward Specialty Insurance Group, Inc., a specialty insurance company, delivering commercial property and casualty products and solutions, has announced that it has priced its upsized initial public offering of 8,952,383 shares of its common stock, with 4,750,000 shares being offered by Skyward Specialty and 4,202,383 shares being sold by selling stockholders, at a public offering price of US$15 per share. The underwriters have a 30-day option to purchase up to an additional 1,342,857 common shares from the selling shareholders at the public offering price, less underwriting discounts and commissions. The offering is expected to close on or about January 18, 2023, subject to customary closing conditions. The shares are expected to begin trading on January 13, 2023 on the Nasdaq Global Select Market under the ticker symbol "SKWD."
Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by New York partners Marc Jaffe and Erika Weinberg, with associates Adam Johnson, Isabelle Sawhney, and Jie Lin Nai. Advice was also provided on benefits & compensation matters by New York partner Jennifer Pepin, with associate Alisa Hand; on tax matters by Century City/Orange County partner Sam Weiner, with associate Ryan Brenner; and on insurance matters by San Diego partner Drew Gardiner and San Diego counsel Jimmy Tabb.