FedNat Holding Company has raised net proceeds of $15.2mn from an underwritten public offering of 3.5 million shares, the company said on Friday, around a third of the amount it said it was looking for last week.
The shares were sold at a price of $4.75 per share, a 16.4% discount on the price at the end of Thursday of $5.68.
Enter your e-mail to claim a free trial:
Uncover exclusive insights tailored for insurance leaders
Stay Informed: Access exclusive industry insights
Gain a competitive advantage: Hear first about tactical developments
Make better decisions: Understand market dynamics in crucial lines of business