Skyward Specialty, a P&C insurance holding company part of Westaim Corporation, has filed a registration statement with the US Securities and Exchange Commission (SEC) for an initial public offering (IPO) of its common stock. The firm submitted a draft registration statement in April 2022.
According to the announcement, the number of shares to be offered and the price range for the IPO have not yet been determined. The IPO will be made only by means of a prospectus.
Westaim highlighted that a registration statement relating to the initial public offering has been filed with the US’s Securities and Exchange Commission (SEC) in April, but has not yet become effective.
The shares offered under the IPO may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective, it added.
The announcement follows a number of others made in 2021 indicating that Skyward Specialty is looking to expand and grow its business in various areas.
In October, the firm elected two new members to its Board of Directors, Kate Terry and Marcia Dall. In the same month, Skyward Specialty announced that it has entered into a partnership with Gradient AI, an artificial intelligence (AI) solutions provider for the insurance industry.
