Cowen-backed blank check Insurance Acquisition prices $131 million IPO at $10

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Insurance Acquisition, a blank check company backed by Cohen & Company and targeting the insurance industry, raised $131 million by offering 13.1 million units at $10. The company slightly upsized the offering, raising $1 million more than anticipated. At offering, Insurance Acquisition commands a market value of $180 million.

Each unit consists of one share of common stock and one-half of one warrant to purchase a share of common stock at $11.50. 

Insurance Acquisition plans to list on the Nasdaq under the symbol ILSUU. Cantor Fitzgerald acted as lead manager on the deal.

The article Cowen-backed blank check Insurance Acquisition prices $131 million IPO at $10 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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