Ategrity Specialty soars in cracking NYSE debut after $113 million IPO

Ategrity Specialty Insurance's ASIC.N shares jump as much as 40.5% to $23.89 in their debut on the New York Stock Exchange

Stock opens at $23.65 vs $17 IPO price, valuing the New York-based firm at $1.1 billion

ASIC raised $113.3 million by selling ~6.7 million shares above its marketed range of $14 and $16

IPO proceeds will be used to grow business and other purposes

J.P. Morgan and Barclays were joint lead book-running managers of the offering

Ategrity launched in 2018 with funding from Zimmer Financial Services Group, an insurance and asset management company

ASIC provides excess and surplus insurance to small to medium-sized businesses across the United States