SelectQuote Files for IPO – CFO

SelectQuote is seeking to raise about $342 million in an original general public providing that could value the on the internet insurance broker at a lot more than $3 billion, the business stated.

On Friday, SelectQuote submitted an amended prospectus to offer you about eighteen million shares, priced involving $17 and $19. With offering stockholders providing an further seven million shares, the business could raise as much as $475 million.

SelectQuote makes it possible for shoppers to assess insurance procedures for automobile, lifestyle, and residence insurance from vendors this kind of as American International Team, Prudential Financial, and Liberty Mutual.

In its filing, SelectQuote stated it will use the internet proceeds from the IPO to pay out down its senior secured credit score amenities. The amenities need that at the very least 25% of the IPO’s internet proceeds, up to $150 million, be employed to prepay a term financial loan

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