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Kinsale Capital prices common share offering

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Kinsale Capital prices common share offering

Kinsale Capital Group Inc. priced an underwritten public offering of 645,000 common shares at $93.00 apiece.

The underwriters were granted a 30-day option to purchase up to an additional 96,750 common shares. Net proceeds are expected to be approximately $57.2 million after deducting underwriting discounts and commissions and estimated offering expenses, and assuming no exercise of the underwriters' option.

The company expects to use the net proceeds for general corporate purposes, including to fund organic growth. The offering is expected to close Aug. 12.

J.P. Morgan is serving as sole book runner for the offering. William Blair, RBC Capital Markets, SunTrust Robinson Humphrey, Dowling & Partners Securities LLC, CIBC Capital Markets and Strategas Research Partners are acting as co-managers.