Patriot National Prices IPO Of 8.32 Mln Shares At $14.00/shr

(RTTNews) - Patriot National Inc. announced that it has priced its initial public offering of 8.32 million shares of its common stock at a public offering price of $14.00 per saher. Patriot National is offering 7.35 million shares of its common stock and the selling stockholders named in the registration statement are offering 965,700 shares of common stock.

The underwriters may also purchase first from Patriot National up to an additional 1,102,500 shares of common stock and second from the selling stockholders up to an additional 144,855 shares of common stock, in each case, solely to cover over-allotments, if any, within 30 days from the date of the offering.

Patriot National, Inc. is an insurance service holding company founded by Fort Lauderdale based entrepreneur Steven Michael Mariano. Patriot National, Inc. is a leading provider of Workers' Compensation and Managed Care Services.

Patriot National's common stock is expected to begin trading on the New York Stock Exchange under the symbol "PN" on January 16, 2015. The offering is expected to close on January 22, 2015, subject to customary closing conditions.