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Fortegra Financial prices 6 million share IPO at $11

December 17, 2010
FRF

Fortegra Financial Corp., which provides payment protection products and back-office services for insurers, raised $66 million by offering 6.0 million shares at $11 per share, in line with its downwardly revised terms. It originally planned to sell 7.7 million shares at a range of $14 to $16. The Jacksonville, FL based company will begin trading on Friday on the NYSE under the symbol FRF. Piper Jaffray and Suntrust Robinson Humphrey acted as lead managers on the deal.