Exzeo to price 8M shares at $20.00-$22.00 in initial public offering

HCI Group (HCI) announced that its majority owned subsidiary, Exzeo (XZO) Group, has launched its initial public offering pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission. Exzeo is offering 8,000,000 shares of its common stock in the IPO. All shares being offered are primary shares, and HCI Group will retain majority ownership following the IPO. Exzeo intends to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 common shares at the IPO price, less underwriting discounts and commissions. The IPO price is currently expected to be between $20.00 and $22.00 per share. Exzeo has applied to list its common stock on the New York Stock Exchange under the ticker symbol “XZO”. Truist Securities is acting as lead left bookrunner for the proposed offering. Citizens Capital Markets and William Blair are acting as joint active book-running managers and Fifth Third Securities is acting as a co-manager.