Bamboo Insurance Launches IPO Roadshow
Bamboo Insurance Services, Inc., a technology-enabled, underwriting-first, and capital-light managing general underwriter focused on homeowners’ coverage, has launched the roadshow for its proposed initial public offering of 35,000,000 shares of its Class A common stock.
A spokesperson said, “The offering consists entirely of secondary shares to be sold by entities affiliated with CVC Capital Partners and White Mountains Insurance Group, Ltd. [together, the selling stockholders]. In addition, the selling stockholders expect to grant the underwriters a 30-day option to purchase up to an additional 5,250,000 shares of Bamboo Insurance’s Class A common stock at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $18.00 and $20.00 per share.
“Bamboo Insurance has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol “BMB.”
“J.P. Morgan and Morgan Stanley will act as joint lead bookrunning managers, and Deutsche Bank Securities, Evercore ISI and Wells Fargo Securities will act as active bookrunning managers in the proposed offering. Barclays, Goldman Sachs & Co. LLC and Piper Sandler will act as bookrunning managers, and CVC Capital Markets, Dowling & Partners Securities, LLC and Wedbush Securities will act as co-managers in the proposed offering.”
