HOUSTON, Jan. 12, 2023 (GLOBE NEWSWIRE) — Skyward Specialty Insurance Group, Inc. (“Skyward Specialty” or the “Company”) announced today that it has priced its increased initial public offering of 8,952,383 common shares. with 4,750,000 shares to be offered by Skyward Specialty and 4,202,383 shares to be sold by selling shareholders at a public offering price of $15.00 per share. The underwriters have a 30-day option to purchase up to 1,342,857 additional common shares from the selling shareholders at the public offering price, less subscription 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 start trading on the Nasdaq Global Select Market on January 13, 2023 under the ticker symbol “SKWD”.

The primary purpose of Skyward Specialty’s offering is to increase capitalization and financial flexibility and to create a public market for its common stock, thereby providing the Company and its shareholders with access to the public stock markets. In addition, Skyward Specialty intends to use a portion of the net proceeds from this offering to contribute capital to its insurance subsidiaries to grow its business and the remainder for general corporate purposes. Skyward Specialty will not receive any proceeds from the sale of common stock by the selling shareholders.

Barclays Capital Inc. and Keefe, Bruyette & Woods, Inc. are acting as joint lead book-running managers for the Proposed Offering. Piper Sandler & Co., JMP Securities, A Citizens Company, Truist Securities, Inc. and Raymond James & Associates, Inc. are acting as joint book-running managers for the Proposed Offering. Academy Securities, Inc. and Siebert Williams Shank & Co., LLC are acting as co-managers for the proposed offering.

A registration statement relating to these securities was filed and declared effective on January 12, 2023 by…