Reinsurance News

RSG launches initial public offering

26th July 2021 - Author: Katie Baker

Ryan Specialty Group has launched its initial public offering of 56,918,278 shares at a price of $23.5 per share.

Ryan Specialty logoRyan Specialty will receive net proceeds of approximately $1,259.1 million after deducting underwriting discounts and commissions and estimated expenses.

It intends to grant underwriters the right to purchase up to an additional 8,537,742 shares of its Class A common stock.

The company intends to use the net proceeds to acquire newly issued LLC units of Ryan Specialty Group, the equity of an entity through which an affiliate of Onex Corporation holds its preferred unit interest in Ryan Specialty Group.

The offering is expected to close on July 26, 2021, subject to the satisfaction of customary closing conditions.


The firm will also look to purchase outstanding LLC units of Ryan Specialty Group from certain existing holders of LLC units at a purchase price per LLC unit equal to the initial public offering price per share of Class A common stock in this offering, less underwriting fees and commissions.

J.P. Morgan, Barclays, Goldman Sachs & Co. LLC and Wells Fargo Securities are acting as lead book-running managers, and UBS Investment Bank, William Blair, RBC Capital Markets, BMO Capital Markets and Keefe, Bruyette & Woods, A Stifel Company are acting as book-running managers for the proposed offering.

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