Westaim Announces Closing of Skyward Specialty’s Secondary Offering
The Westaim announced the closing of the secondary public offering of Skyward Specialty Insurance Group, Inc. The Offering involved the sale of 5,060,000 shares of common stock of Skyward Specialty at a price of US$36.50 per share, resulting in proceeds of approximately US$177.3 million. Westaim now holds a 4.8% interest in Skyward Specialty. Barclays, Keefe, Bruyette & Woods, Inc., A Stifel Company, and Jefferies served as joint lead book-running managers for the Offering.
- None.
- None.
NOT FOR DISTRIBUTION TO
Barclays, Keefe, Bruyette & Woods, Inc., A Stifel Company, and Jefferies acted as joint lead book-running managers for the Offering. Citizens JMP, Piper Sandler & Co., Raymond James & Associates, Inc., Truist Securities, Inc., William Blair, TD Securities and Wolfe | Nomura Alliance acted as joint book-running managers for the Offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Shares in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Westaim
Westaim is a Canadian investment company specializing in providing long-term capital to businesses operating primarily within the global financial services industry. The Company invests, directly and indirectly, through acquisitions, joint ventures and other arrangements, with the objective of providing its shareholders with capital appreciation and real wealth preservation. Westaim’s strategy is to pursue investment opportunities with a focus towards the financial services industry and grow shareholder value over the long term. Westaim’s investments include significant interests in Arena and the Arena FINCOs. Arena and Arena FINCOs are defined in the notes to Westaim’s audited consolidated financial statements for the year ended December 31, 2023 and the related MD&A. The common shares of Westaim are listed on the TSX Venture Exchange (the “TSXV”) under the trading symbol “WED”.
For more information, contact:
J. Cameron MacDonald, President and Chief Executive Officer or
Robert T. Kittel, Chief Operating Officer
The Westaim Corporation
info@westaim.com
(416) 969-3333
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240510823275/en/
J. Cameron MacDonald, President and Chief Executive Officer or
Robert T. Kittel, Chief Operating Officer
The Westaim Corporation
info@westaim.com
(416) 969-3333
Source: The Westaim Corporation
FAQ
What is the name of the company that announced the closing of the secondary public offering of Skyward Specialty?
What is the stock symbol of Skyward Specialty?
How many shares were sold in the Offering?
At what price were the shares sold in the Offering?
What percentage interest does Westaim now hold in Skyward Specialty?