Neptune Insurance (NP) Jumps 24% on IPO, Shrugs Off Govt Shutdown Fears

Group 1 - Neptune Insurance Holdings Inc. (NYSE:NP) experienced a significant increase of 24% on its first day of trading, indicating strong investor optimism for the company [1][3] - The company raised $368 million during its initial public offering (IPO) by selling 18.4 million shares at a price range of $18 to $20 each [2] - On the first trading day, Neptune Insurance opened at $22.50 and peaked at $25.29, reflecting a rise of up to 26.45% from its IPO price [3] Group 2 - Selling shareholders have provided underwriters with a 30-day option to purchase an additional 2.76 million common shares at the IPO price, excluding underwriting discounts and commissions [3] - Morgan Stanley served as the lead left bookrunner for the IPO, with J.P. Morgan and BofA Securities acting as active bookrunners, supported by several other financial institutions [4]