Doma Holdings enters pact with Title Resources to go private at $6.29 per share

Doma Holdings “announced that it has entered into a definitive agreement and plan of merger with Title Resources Group, one of the nation’s leading title insurance underwriters, subject to stockholder and regulatory approvals. In the transaction, TRG would acquire all of the outstanding shares of Doma for $6.29 per share of common stock in an all-cash transaction, an approximate premium of 43.0% over Doma’s closing share price on March 27, 2024, and an approximate 33.9% premium over the trailing 30-day volume weighted average closing price ending March 27, 2024. After the close of the transaction, Doma’s underwriting division, Doma Title Insurance, Inc., and its technology division, expected to be renamed Doma Technology LLC, are expected to operate as subsidiaries of TRG with Doma TechCo operating on a separately-capitalized basis. Hudson Structured Capital Management Ltd. would maintain an investment in Doma through Doma TechCo. Doma TechCo would continue to have access to underwriting services and continued technology deployment for Doma Title Insurance, Inc.”