Brown & Brown, Inc. (NYSE: BRO) has announced the pricing of a $4 billion offering of 39,215,686 shares of its common stock at a price to the public of $102.00 per share. The offering is expected to close on June 12, 2025, and the company has granted the underwriters a 30-day option to purchase up to an additional $400 million in shares of common stock at the public offering price, less underwriting discounts.
The net proceeds of the offering are expected to be approximately $3.9 billion, after deducting underwriting discounts and expenses and assuming no exercise of the underwriters' option to purchase additional shares. The company intends to use the net proceeds of the offering to fund a portion of the consideration payable for the acquisition of RSC Topco, Inc., the holding company for Accession Risk Management Group, Inc., and to pay fees and expenses associated with the transaction. If the transaction is not consummated, the company intends to use the net proceeds of the offering for general corporate purposes.
Brown & Brown, Inc. is a leading insurance brokerage firm with a global presence spanning 500+ locations and a team of more than 17,000 professionals. As a result of these announcements, the company's shares have moved 2.22% on the market, and are now trading at a price of $106.80. If you want to know more, read the company's complete 8-K report here.
