Fortegra Group Announces Launch Of IPO - Quick Facts

(RTTNews) - The Fortegra Group, a specialty insurer and subsidiary of Tiptree Inc. (TIPT), announced the launch of Fortegra's initial public offering. The company will offer 18 million shares of its common stock to the public. Fortegra also plans to grant the underwriters a 30-day option to purchase up to an additional 2.7 million shares of common stock from Fortegra. The price range is expected to be between $15.00 and $18.00 per share.

The Fortegra Group plans to use the net proceeds to execute growth strategy and for working capital and general corporate purposes. Fortegra has applied to list its common stock on the New York Stock Exchange under the ticker, TFG.