Overview
- Exzeo priced 8 million shares at $21 each, raising $168 million at the midpoint of its marketed $20 to $22 range.
- The offer price implies a valuation of roughly $1.91 billion, and the stock trades on the NYSE under the symbol XZO.
- HCI Group retains an 81.5% stake following the offering, keeping majority control of the company.
- Shares opened at $21 in their debut, matching the offer price and contrasting with stronger first-day gains for some insurance peers this year.
- Truist Securities, Citizens Capital Markets and William Blair led the deal, as SEC timing relief helped listings proceed despite shutdown-related delays.