HCI Group Announces Confidential Submission of Draft Registration Statement for Proposed Initial Public Offering of TypTap Insurance Group, Inc.

Rhea-AI Summary

HCI Group, Inc. (NYSE:HCI) announced that its subsidiary, TypTap Insurance Group, has confidentially filed a draft registration statement on Form S-1 with the SEC for a proposed initial public offering (IPO) of TypTap's common stock. The size and pricing of the offering remain undetermined, and the IPO is contingent on the SEC review process and market conditions. There is no guarantee that the IPO will be completed.

Positive

• Confidential filing indicates potential future growth and expansion for TypTap Insurance Group.

Negative

• No assurance that the IPO will be completed, which may create uncertainty for investors.

TAMPA, Fla., Aug. 05, 2021 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE:HCI) today announced that its subsidiary, TypTap Insurance Group, Inc., has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to a proposed initial public offering of TypTap’s common stock. The size and price range for the proposed offering have not yet been determined. The initial public offering is expected to commence after the completion of the SEC review process, subject to market and other conditions. There is no assurance that the initial public offering will be completed.

This press release is being made pursuant to, and in accordance with, Rule 135 under the Securities Act of 1933, as amended (the “Securities Act”) and does not constitute an offer to sell, or the solicitation of an offer to buy, any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act.

Company Contact:
Rachel Swansiger, Esq.
Investor Relations
HCI Group, Inc.
Tel (813) 405-3206
rswansiger@hcigroup.com

FAQ

What is the proposed IPO for TypTap Insurance Group related to HCI?

TypTap Insurance Group has filed a draft registration statement with the SEC for a proposed IPO, but the size and price are yet to be determined.

When is the TypTap IPO expected to occur?

The IPO is expected to commence after the SEC review process and dependent on market conditions.

What are the risks associated with the TypTap IPO for HCI shareholders?

There is no assurance that the IPO will be completed, which may lead to uncertainty for current HCI shareholders.