BRP Group Inc (NASDAQ:BRP), an insurance-brokerage firm based in Tampa, Florida, started strong following a $230 million IPO.
The eight-year-old company with 400,000 clients in the US offered 16.4 million shares at $14 per share, which was the low end of its projected $14 to $16 range.
The offering gives BRP a fully diluted market value of $908 million, according to research firm Renaissance Capital.
The stock jumped out of the gate and opened trading at $17.38 before cooling to $16.41, still 17% above its IPO price.
OneWater Marine Inc (NASDAQ:ONEW), a recreational boat dealership based in Buford, Georgia, opted to postpone its $60 million IPO, according to Renaissance Capital.
The company had planned to offer 3.2 million shares at a price between $18 and $20 per share.
OneWater owns and operates 60 stores comprising 20 groups in 11 states, as of May, with dealer groups in the Southeast, Gulf Coast, Mid-Atlantic and Northeast. The company said it believes itself to be the market leader by sales volume of premium boats in 12 of its 17 markets.
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