Florida insurer American Integrity set for NYSE debut after $110 million IPO

Residential property insurer American Integrity Insurance AII.N set to begin trading on the New York Stock Exchange on Thursday under the symbol "AII"

Florida-based AII and some existing stockholders late Wednesday sold 6.875 million shares to raise $110 million at $16 apiece, the midpoint of the marketed range of $15 and $17 each

Existing stockholders including real estate investor James Sowell sold 625,000 shares in the offering

At IPO price, AII fetched a $313.3 million valuation

AII was founded in 2006 at a time when national insurers were retreating from Florida's residential property insurance market in the aftermath of the devastating 2004 and 2005 hurricane seasons

Keefe, Bruyette & Woods, Piper Sandler, and William Blair led a six-firm underwriting syndicate for the offering