Heritage Insurance Holdings Prices Public Offering - Quick Facts

(RTTNews) - Heritage Insurance Holdings, Inc. (HRTG) has priced its underwritten public offering of 3,703,703 shares of common stock at a public offering price of $6.75 per share. All shares are being sold by the company. The gross proceeds are expected to be approximately $25 million. The offering is expected to close on or about December 19, 2023. Also, the underwriter has a 30-day option to purchase up to an additional 555,555 shares of common stock.

Also, Ernie Garateix, a director of the company and Chief Executive Officer, Paul Whiting, a director of the company and Raymond Hyer, a current holder of approximately 13.5% of the outstanding common stock, have agreed to purchase directly from Heritage Insurance, in a concurrent private placement, an aggregate of 222,222 shares of common stock at the public offering price.