BRP Group, which provides insurance brokerage and risk management services, announced terms for its IPO on Friday.
The Tampa, FL-based company plans to raise $246 million by offering 16.4 million shares at a price range of $14 to $16. At the midpoint of the proposed range, BRP Group would command a market value of $973 million.
BRP Group was founded in 2011 and booked $102 million in revenue for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol BRP. J.P. Morgan, BofA Merrill Lynch, Jefferies and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price on Wednesday, October 23, 2019.
