Just one listing is currently scheduled for the week ahead, although smaller issuers may join the calendar throughout the week.
Specialty property & casualty insurer Bowhead Specialty Holdings (BOW) plans to raise $100 million at a $473 million market cap. In the 12 months ended March 31, 2024, the company wrote $550 million in gross written premiums across its three underwriting divisions: casualty, professional liability, and healthcare. Its products are primarily written on an excess & surplus basis. The company, led by an experienced management team, has posted strong growth in gross written premiums. However, it writes all of its business through American Family, which it will pay rising fees to in the future. The listing is set to be the first insurance IPO in the US to raise more than $10 million since November 2023.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Bowhead Specialty (BOW) New York, NY | $100M $473M | $14 - $16 6,666,667 | JP Morgan Morgan Stanley |
| Specialty property & casualty insurer. | |||
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Street research is expected for four companies in the week ahead, and lock-up periods will be expiring for one company. For access to Street research and lock-up expiration dates, sign up for a free trial of IPO Pro.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 5/16/2024, the Renaissance IPO Index was up 4.4% year-to-date, while the S&P 500 was up 11.7%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Kenvue (KVUE) and Nu Holdings (NU). The Renaissance International IPO Index was up 5.6% year-to-date, while the ACWX was up 8.0%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Barito Renewables Energy and Porsche.
