The final pricing suggests a cooler reception from investors than the Florida firm initially projected during its pre-IPO roadshow. By settling at the $12 mark, Orion180 is entering the public market with a valuation that underscores current volatility in the insurance sector. The company, which specializes in homeowners coverage, will now face the scrutiny of the broader Nasdaq market as it begins its first day of trading.
In section Market Quotes
Orion180 Insurance IPO Hits Market at Steep Discount
Priced at $12 a share, the initial public offering for Melbourne-based Orion180 Insurance Group landed significantly below the company’s anticipated range of $15 to $17. The homeowners insurance provider moves to the Nasdaq Global Select Market this Friday, offering 20 million shares under the ticker symbol OIG.
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