DLA Piper advises Skyward Specialty in its Upsized IPO
DLA Piper represented Skyward Specialty Insurance Group (Skyward Specialty) in its upsized initial public offering of 8,952,383 shares of its common stock, with 4,750,000 shares sold by Skyward Specialty and 4,202,383 shares sold by selling stockholders, at a public offering price of $15.00 per share. The underwriters also exercised in full their option to purchase 1,342,857 additional shares of common stock from the selling stockholders, at a price per share of $15.00 per share. The shares began trading on January 13, 2023 on the Nasdaq Global Select Market under the ticker symbol "SKWD" and the offering closed on January 18, 2023.
The DLA Piper team that advised Skyward Specialty was led by partners Patrick O’Malley (San Diego) and Michael Murphy (New York) with associates Bianca LaCaille, Logan Weaver and Rebecca Paley-Williams (all in Seattle). Advice was also provided on benefits & compensation matters by partner Rita Patel (Washington, DC) with associate Mary Claire Blythe (Baltimore); and on insurance matters by senior counsel Peter Rice (Boston).
DLA Piper’s global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities