Insurance Firm BRP Group, Inc. Announces Pricing of Its IPO

Independent insurance distribution firm BRP Group (Baldwin Risk Partners), Inc. announced the pricing of its initial public offering of 16,400,000 shares of its Class A common stock at a price to the public of $14.00 per share. The underwriters for the offering also have a 30-day option to purchase up to 2,460,000 additional shares of its Class A common stock. BRP Class A common stock is expected to begin trading on the Nasdaq Global Select Market on October 24, 2019 under the ticker symbol "BRP." The offering is expected to close on October 28, 2019, subject to customary closing conditions.

Source: MarketWatch | Published on October 24, 2019

J.P. Morgan and BofA Securities, along with Jefferies and Wells Fargo Securities, are acting as joint book-running managers, and Raymond James and Keefe, Bruyette & Woods, A Stifel Company are acting as co-managers for the offering.

About BRP

Tampa Bay, Florida-based BRP is a rapidly growing independent insurance distribution firm delivering tailored insurance and risk management insights and solutions. BRP represents over 400,000 clients across the United States and internationally, with over 40 offices in four states.

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