Goosehead Insurance, which operates and franchises personal lines insurance agencies in the US, announced terms for its IPO on Tuesday.
The Westlake, TX-based company plans to raise $128 million by offering 8.5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Goosehead Insurance would command a fully diluted market value of $525 million.
Goosehead Insurance was founded in 2003 and booked $43 million in sales for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol GSHD. J.P. Morgan and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of April 23, 2018.
