Wall Street’s Renewed Appetite for Risk
Ategrity’s strong opening comes amid a reviving IPO market, especially in the insurance sector. Just days earlier, Slide Insurance Holdings Inc. out of Florida revealed its own plans for a $320 million IPO, fueling speculation that insurance IPOs may lead the next wave of public offerings.
Industry watchers say Ategrity’s success may embolden other specialty insurers to follow suit. It’s a revival that feels almost poetic—companies that embrace risk are now becoming some of the safest bets on Wall Street.
IPO Mechanics and Legal Muscle
Backing Ategrity through its Wall Street debut is a legal dream team:
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Latham & Watkins LLP led by Marc Jaffe, Erika Weinberg, and Gary Boss guided Ategrity through the IPO.
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Underwriters J.P. Morgan Securities LLC and Barclays Capital Inc. were represented by Skadden Arps Slate Meagher & Flom LLP, with partners Dwight Yoo, Elena Coyle, and Ryan Dzierniejko at the helm.
Ategrity’s underwriters also hold a 30-day option to purchase an additional 1 million shares, which could inflate total proceeds to $130.3 million.
In a strategic twist, the company plans to reincorporate in Nevada post-IPO—a move managed with guidance from Brownstein Hyatt Farber Schreck LLP, likely aimed at tapping the state’s business-friendly climate.
