Kinsale Capital Group, a Virginia based specialty insurance group works in the field of excess and surplus lines market, has priced 270,000 shares of common stock for its underwritten public offering at a price of $190.00 per share for the gross proceeds of $51.3 million. Kinsale Capital has also allowed the a 30-day option to underwriters for purchase of up to 40,500 additional common shares. The offering will close on August 7, 2020, while it can change depending on the customary conditions.

The Company purpsoes to use the net proceeds for general corporate purposes that it will get from the offering of the shares and those also include the funding for organic growth. The net proceeds to that the Company will earn from the offering of the common stock are expected to be about $49.2 million with the deduction of underwriting discounts and commissions and pre-calculated offering expenses. The net proceeds are comprising the amount without assuming the exercise of option to purchase additional shares of underwriters.

J.P. Morgan is the sole bookrunner on the offering. Dowling & Partners Securities LLC, RBC Capital Markets, JMP Securities, Truist Securities and William Blair are the co-managers on the offering. The company filed the Form S-3 registration statement. This public offering is automatically effective on that Form S-3 registration statement.