trending Market Intelligence /marketintelligence/en/news-insights/trending/gcOL6V1YaeX4dh56Hntyxw2 content esgSubNav
In This List

Cohen & Co.-sponsored blank check company completes IPO

Blog

Banking Essentials Newsletter: 7th February Edition

Blog

Insurance Underwriting Transformed How Insurers Can Harness Probability of Default Models for Smarter Credit Decisions

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Cohen & Co.-sponsored blank check company completes IPO

Insurance Acquisition Corp. completed its IPO of 15,065,000 units at $10.00 per share, including 1,965,000 units issued pursuant to the underwriters' over-allotment option.

The gross proceeds were about $150.7 million. Insurance Acquisition is a blank-check company sponsored by Cohen & Co. Inc. and formed for the purpose of acquiring or merging with one or more businesses or entities in the insurance industry.

The units began trading on March 20 on the Nasdaq Capital Market under the symbol INSUU. Each unit consists of one class A common share and one-half of one warrant, with each whole warrant exercisable for one class A common share at an exercise price of $11.50 per share.

Once the securities making up the units begin separate trading, the class A common shares and warrants are expected to be listed on Nasdaq under the symbols INSU and INSUW, respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.

Cantor Fitzgerald & Co. served as the book-running manager and BTIG LLC acted as lead manager for the offering.