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Technology-focused specialty insurance group Orion180 has priced its initial public offering at $12 a share, putting it on course to raise $240m in gross proceeds from the sale of 20 million Class A shares.
The firm could raise a further $36m if underwriters fully exercise their overallotment option, taking the potential total to $276m.
At the $12 IPO price, the offering came in below the range Orion180 had initially indicated during its roadshow earlier this month.
The insurer said it was seeking to raise $300m to $340m in gross proceeds from the sale of 20 million Class A shares at $15 to $17 each.
Nonetheless, the shares are expected to begin trading on the Nasdaq Global Select Market on September 18, 2026, under the ticker symbol “OIG.”
Orion180 explained that the offering is expected to close on September 21, 2026, subject to customary closing conditions.
RBC Capital Markets, UBS Investment Bank and Raymond James are acting as lead book-running managers. Meanwhile, Goldman Sachs & Co. LLC, Deutsche Bank Securities, Citizens Capital Markets and Texas Capital Securities are acting as book-running managers for the offering.
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