We advised the underwriters on the offering

Davis Polk advised the representatives of the several underwriters in connection with the $300 million follow-on offering of 11,317,604 shares of Class A common stock of Neptune Insurance Holdings Inc. sold by the selling stockholders. The offering included the full exercise of the underwriters’ option to purchase additional shares of Class A common stock from the selling stockholders. The common stock is listed on the New York Stock Exchange under the symbol “NP.”

Neptune Insurance Holdings is the parent company of Neptune Flood Incorporated. Neptune Flood is a leading, AI-native managing general agent offering a range of easy-to-purchase residential and commercial insurance products, including primary and excess flood insurance, distributed through a nationwide network of agencies. Leveraging proprietary artificial intelligence and advanced data science, Neptune delivers fast and accessible coverage for residential and commercial properties across the United States, and the company operates without human underwriters, using its Triton, cutting-edge platform to streamline underwriting, pricing and policy issuance.

The Davis Polk capital markets team included partners Pedro J. Bermeo and Joseph A. Hall and counsel Steven Glendon. Partner Kara L. Mungovan and associates Alanna Phillips and Afrika Nora Owes provided tax advice. Partner David R. Bauer and associate Anne Kim provided intellectual property advice. Counsel Marcie A. Goldstein provided FINRA advice. All members of the Davis Polk team are based in the New York office.

Copy link to share post