Fortegra Financial Corporation, which provides distribution and administrative services to insurance companies, brokers and agents, announced terms for its IPO on Friday. The Jacksonville, FL-based company plans to raise $116 million by offering 7.7 million shares at a price range of $14-$16. At the mid-point of the proposed range, Fortegra Financial will command a market value of $327 million. Fortegra Financial, which was founded in 1981 and booked $94 million in sales for the 12 months ended June 30, plans to list on the NYSE under the symbol FRF. Piper Jaffray and Suntrust Robinson Humphrey are the lead underwriters on the deal, which is expected to price during the week of December 13.
