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, with underwriters having a 30-day option to purchase up to an additional $400 million in shares.
The net proceeds of the offering are expected to be approximately $3.9 billion, assuming no exercise of the underwriters’ option to purchase additional shares. These proceeds are intended to fund a portion of the consideration payable for the acquisition of RSC Topco, Inc., the holding company for Accession Risk Management Group, Inc. In the event that the transaction does not occur, the net proceeds will be used 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. The company has been providing customer-centric risk management solutions since 1939.
The company has filed an automatic shelf registration statement and a related preliminary prospectus supplement with the U.S. Securities and Exchange Commission and will file a final prospectus supplement relating to the offering. Investors are encouraged to review these documents for more complete information about the company and the offering.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the common stock of the company. Additionally, the securities being offered have not been approved or disapproved by any regulatory authority. 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. Check out the company's full 8-K submission here.
