logo-loader

IPO Roundup: Insurance broker BRP Group starts strong, OneWater Marine sinks its IPO plans

BRP's was priced at the low end of its range but opened trading higher

Gold IPO key on a keyboard
The offering gives BRP a fully diluted market value of $908 million, according to research firm Renaissance Capital

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.

READ: IPO Roundup: Handful of companies to go public this week led by insurance broker BRP Group

Withdrawn

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.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Tonix Pharmaceuticals CEO talks through recent pre-clinical and clinical...

Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) CEO Seth Lederman sat down with Proactive at the BIO CEO & investor Conference in New York. Lederman says the biopharma company had recently unveiled the pre-clinical results of TNX-801, its live virus horsepox vaccine that prevents...

4 hours, 16 minutes ago

2 min read