Skyward Specialty announces offering of 4.5M shares of common stock

Skyward Specialty Insurance Group announced the company has commenced a follow-on offering of 2.15M shares of its common stock. Additionally, Skyward Specialty’s existing stockholder, The Westaim Corporation, is offering 2.35M shares. Skyward Specialty’s principal purposes of the offering are to support its continued growth and allow the company to capitalize on market opportunities – led by its existing lines, but also continuing to expand into new products and adjacencies that fit the company’s strategy by increasing capitalization and financial flexibility. Skyward Specialty will not receive any of the proceeds from the sale of the shares by Westaim. Barclays, Keefe, Bruyette & Woods, A Stifel Company and Jefferies are acting as joint lead book-running managers for the proposed offering. Piper Sandler, JMP Securities, A Citizens Company, Truist Securities, Raymond James, BMO Capital Markets and Wolfe Nomura Alliance are acting as joint book-running managers for the proposed offering.