Group 1: IPO Details - Neptune Insurance Holdings has launched its US initial public offering (IPO) aiming to raise up to $368.4 million by offering 18.42 million shares priced between $18 and $20 per share, seeking a valuation of up to $2.76 billion [1] - The selling securityholders plan to provide underwriters a 30-day option to purchase an additional 2.76 million shares of Class A common stock [2] - Morgan Stanley is the lead left bookrunner for the offering, with J.P. Morgan and BofA Securities as active bookrunners, alongside several other joint bookrunners [2] Group 2: Company Background - Neptune Flood, a subsidiary of Neptune Insurance Holdings, has been operational since 2018, offering a range of insurance products including residential and commercial flood insurance through a nationwide network of agencies [3] Group 3: Financial Performance - For the year ending December 31, 2024, Neptune Insurance reported a 40.6% increase in organic revenue, a net income margin of 29%, and an adjusted EBITDA margin of 60.4% [4] - The company continued its growth momentum into the first half of 2025, with a 32.3% rise in organic revenue, a net income margin of 30.2%, and an adjusted EBITDA margin of 59.3% [4]

Group 1 - Neptune Insurance Holdings plans to raise $350 million through an IPO by offering 18.4 million shares priced between $18 and $20, with all shares being secondary market offerings [1][2] - The company has secured cornerstone investors T. Rowe Price and Alliance Bernstein, who have committed to purchase $75 million worth of shares, representing 21% of the total offering [1] - If priced at the midpoint of the offering range, Neptune Insurance's fully diluted market capitalization would reach $2.8 billion [1] Group 2 - Neptune Insurance operates as a data-driven managing general agent (MGA) focused on providing flood risk mitigation solutions for homeowners and businesses [1][2] - The company does not assume any insurance risk on its balance sheet and does not handle claims processing for the policies it sells [2] - Neptune Insurance was founded in 2017 and reported revenue of $137 million for the 12 months ending June 30, 2025 [2]

Company Overview - Neptune Insurance is targeting a valuation of up to $2.76 billion in its upcoming U.S. initial public offering (IPO) [1] - The company aims to raise up to $368.4 million by offering 18.4 million shares priced between $18 and $20 each [1] - Neptune sells residential and commercial flood insurance policies on behalf of carrier partners throughout the U.S. [3] Industry Context - The IPO market for insurance firms has been active since May, with several companies going public, marking it as a "breakout year" for the industry [2] - Other insurance firms that have recently gone public include Aspen Insurance, American Integrity, Ategrity Specialty, Slide Insurance, and Accelerant [2] - The demand for flood insurance is expected to rise due to climate change, which is causing more frequent and severe storms [3] Investment Interest - Private equity firms Bregal Sagemount and FTV Capital have acquired a minority stake in Neptune [4] - Cornerstone investors T. Rowe Price Investment Management and AllianceBernstein have expressed interest in purchasing up to $75 million in shares from Neptune's offering [4] - Morgan Stanley, J.P. Morgan, and BofA Securities are the lead underwriters for the IPO, with Neptune set to list its stock on the NYSE under the symbol "NP" [4]

As filed with the Securities and Exchange Commission on September 22, 2025. Registration No. 333-289995 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT Under The Securities Act of 1933 _____________________________________ NEPTUNE INSURANCE HOLDINGS INC. (Exact name of registrant as specified in its charter) _____________________________________ Delaware 6411 33-4189588 (State or other jurisdiction of incorporation or organization) ( ...

He also leads the investing group IPO Edge , which offers actionable information on growth stocks through first-look IPO filings, previews on upcoming IPOs, an IPO calendar for tracking what’s on the horizon, a database of U.S. IPOs, and a guide to IPO investing to walk you through the entire IPO lifecycle - from filing to listing to quiet period and lockup expiration dates.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initi ...

As filed with the Securities and Exchange Commission on September 2, 2025. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT Under The Securities Act of 1933 _____________________________________ NEPTUNE INSURANCE HOLDINGS INC. (Exact name of registrant as specified in its charter) _____________________________________ | Delaware | 6411 | 33-4189588 | | --- | --- | --- | | (State or other jurisdiction of | (Primary standard industri ...