Coastal insurer Slide set to open higher in Nasdaq debut after $408 million IPO
Slide Insurance's SLDE.O shares set to open significantly above offer price in their debut on Nasdaq
Stock recently indicated to open at $34 vs $17 IPO price
Coastal specialty insurer and some of its existing shareholders sold 24 million shares to raise $408 million
They had earlier marketed 20 million shares priced between $15 and $17 each
Slide's listing is the fourth insurance IPO in New York since May
Tampa, Florida-based Slide provides family and condominium insurance policies for coastal states along the Atlantic seaboard
Founded in 2021, Slide's business is heavily concentrated in Florida — a market where some large national insurers have scaled back their presence in recent years due to frequent natural disasters
Barclays and Morgan Stanley were the joint book-running managers for the offering
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