By Isha Marathe

July 15 - (The Insurer) - U.S. specialty insurance platform Accelerant Holdings has announced the launch of its initial public offering of 28,947,368 of its Class A common shares, which will be listed on the New York Stock Exchange under the ticker symbol ARX.

The IPO price is expected to be between $18.00 and $20.00 per common share. The offering would raise $579 million at the top end of that range, $521 million at the bottom end and $550 million at the midpoint.

The offering consists of 20,276,280 common shares offered by Accelerant and 8,671,088 common shares to be sold by certain of Accelerant’s existing shareholders.

In connection with the offering, certain of the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 4,342,105 common shares.

Morgan Stanley is acting as lead left active bookrunner, Goldman Sachs is acting as lead right active bookrunner, and BMO Capital Markets Corp and RBC Capital Markets are acting as active bookrunners for the proposed offering.

Wells Fargo Securities, Piper Sandler, William Blair & Company, Raymond James & Associates and TD Securities $(USA)$ are acting as bookrunners. Citizens Capital Markets and FT Partners are acting as co-managers.

A registration statement on Form S-1 relating to the shares was filed at the end of June.

Founded in 2018, Jeff Radke-led Accelerant describes itself as "a data-driven risk exchange connecting underwriters of specialty insurance risk with risk capital providers".

Accelerant's announcement continues the recent run of U.S. insurance IPOs this year, which includes Aspen, American Integrity, Ategrity and Slide.