William Blair acted as a joint bookrunner on a $832 million initial public offering for Accelerant Holdings (NYSE: ARX) (Accelerant), a data-driven risk exchange connecting underwriters of specialty insurance risk with risk capital providers. The offering priced on July 23, 2025. Key transaction details are outlined below:
- Priced at $21.00 per share, above the filing range of $18.00 - $20.00
- Offering was upsized 19% from 28.9 million shares at launch to 34.5 million shares at pricing
- Base deal included 41% secondary shares, with a 100% secondary overallotment, sold by Altamont Capital Partners, Barings LLC, and Eldridge Industries LLC
- 7-day hybrid roadshow that consisted of over 130 investor touchpoints
- Multiple times oversubscribed on the upsized deal with strong mutual fund and sector dedicated investor interest
- Stock traded well in the aftermarket, up 26.1% on day 1, facilitating full exercise of the overallotment option
We would be happy to further discuss the transaction as well as the current conditions in the U.S. equity capital markets. Please contact us if you are interested in scheduling a call with our team.
About the Company
Accelerant is a data-driven risk exchange connecting underwriters of specialty insurance risk with risk capital providers. Accelerant was founded in 2018 by a group of longtime insurance industry executives and technology experts who shared a vision of rebuilding the way risk is exchanged. The company focuses on MGAs with strong underwriting track records and specialty underwriting expertise who predominately underwrite low-limit, low-hazard, specialty commercial risks. As of March 31, 2025, Accelerant had 232 Members and 96 risk capital partners on their platform and had grown Exchange Written Premium at a 217% compounded annual growth rate since inception.
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