THE
WOODLANDS, Texas, July 9, 2024
/PRNewswire/ -- TWFG, Inc. ("TWFG") today announced the launch of
its initial public offering of its Class A common stock. TWFG is
offering 11,000,000 shares of its Class A common stock pursuant to
a registration statement on Form S-1 filed with the Securities and
Exchange Commission ("SEC"). The initial public offering price is
expected to be between $14.00 and
$16.00 per share. TWFG intends to
grant the underwriters the right to purchase up to an additional
1,650,000 shares of its Class A common stock. TWFG intends to list
its Class A common stock on the Nasdaq Global Select Market under
the symbol "TWFG."
Upon completion of the proposed initial public offering, TWFG
will be the sole managing member of TWFG Holding Company, LLC and
will exclusively operate and control all of its business and
affairs.
TWFG intends to use the net proceeds received from the initial
public offering to acquire newly-issued LLC units of TWFG Holding
Company, LLC (the "LLC Units") equal to the number of shares of
Class A common stock issued in the initial public offering from
TWFG Holding Company, LLC, at a purchase price per LLC Unit
equal to the initial public offering price per share of Class A
common stock after underwriting discounts and commissions. TWFG
intends to cause TWFG Holding Company, LLC to use the proceeds it
receives from the sale of LLC Units to TWFG, Inc. to pay fees and
expenses in connection with the initial public offering and the
reorganization transactions, to repay in full outstanding debt
under its revolving credit agreement and for potential strategic
acquisitions of, or investments in, other businesses or
technologies that TWFG believes will complement its current
business and expansion strategies and for general corporate
purposes.
J.P. Morgan, Morgan Stanley, BMO Capital Markets and
Piper Sandler are acting as joint
lead book-running managers, RBC Capital Markets, UBS Investment
Bank, Keefe, Bruyette & Woods, A Stifel Company and
William Blair are acting as joint
book-running managers and Dowling & Partners Securities LLC is
acting as co-manager for the proposed offering.
The proposed offering will be made only by means of a
prospectus. Copies of the preliminary prospectus relating to the
offering may be obtained, when available, from: J.P. Morgan
Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717
or by email at prospectus-eq_fi@jpmchase.com and
postsalemanualrequests@broadridge.com or Morgan Stanley &
Co. LLC, Attention: Prospectus Department, 180 Varick Street,
New York, New York 10014.
A registration statement relating to these securities has been
filed with the SEC but has not yet become effective. These
securities may not be sold, nor may offers to buy be accepted,
prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. Any offers, solicitations or offers to buy, or any
sales of securities will be made in accordance with the
registration requirements of the Securities Act of 1933, as
amended.
About TWFG
Founded by Richard F. ("Gordy") Bunch III in 2001, TWFG is a
leading independent distribution platform for personal and
commercial insurance in the United
States. TWFG offers all lines of insurance, multiple
distribution contract options, M&A services, proprietary
virtual assistants, proprietary technology, proprietary premium
financing, unlimited continuing education, recognition programs,
co-op funding, marketing support and overall lower costs to
operate.
Company Contact:
Jeff Arricale
SVP Strategy & Capital Markets
Jeff.Arricale@twfg.com
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SOURCE TWFG, Inc.