Orion180 valued at 1.14B in debut
Orion180 Insurance reached a valuation of 1.14 billion dollars following a share price drop in its Nasdaq debut. The company priced its initial public offering below its marketed range and raised 240 million dollars amid a cautious market environment.
Orion180 Insurance was valued at $1.14 billion after its shares fell 4.2% in their Nasdaq debut on Friday morning, raising $240 million. The listing sets a cautious tone for other insurers eyeing public offerings in the United States later this year. Shares opened at $11.50 after the Melbourne, Florida-based company priced its IPO at $12, below its marketed range of $15 to $17.
