Kinsale Capital Group Inc. proposed an underwritten public offering of 530,000 common shares under a shelf registration statement.
The underwriters will be granted a 30-day overallotment option to purchase an additional 79,500 common shares.
The company intends to use the net proceeds from the offering for general corporate purposes, including to fund organic growth. Kinsale had 21,370,825 shares outstanding as of July 30, according to S&P Global Market Intelligence data.
J.P. Morgan is the sole book runner, while William Blair, RBC Capital Markets, SunTrust Robinson Humphrey, Dowling & Partners Securities LLC, CIBC Capital Markets and Strategas Research Partners are the co-managers for the offering.