American Integrity Insurance Group has launched the roadshow for its proposed initial public offering (IPO) of 6,875,000 shares of common stock, with the company intending to use the net proceeds for general corporate purposes, which may include contributing capital to its insurance subsidiary.

The IPO price is expected to range between $15.00 and $17.00 per share, which would raise between $103.125 million and $116.875 million.

However, American Integrity confirmed it will not receive proceeds from the sale of shares by the selling stockholders, which amounts to 625,000. As a result, the range of proceeds that American Integrity stands to raise would be between $93.75 million and $106.25 million from 6,250,000 shares of common stock.

In addition, certain existing stockholders plan to grant underwriters a 30-day option to purchase up to 1,031,250 additional shares at the IPO price, which would bring the total offering to 7,906,250 shares. This could raise between $118.6 million and $134.4 million in total.

“American Integrity intends to use the net proceeds from this offering for general corporate purposes, which may include contributing capital to its insurance subsidiary to support growth, as well as for the satisfaction of tax withholding and remittance obligations related to certain equity grants made in connection with the offering and for fees associated with the termination of its existing management services agreement,” explained the firm.

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