Brown & Brown Announces Pricing Of Public Offering Of About 39.22 Mln Shares At $102.00/shr

(RTTNews) - Brown & Brown Inc. (BRO) announced the pricing of its public offering of about 39.22 million shares of common stock, each with a par value of $0.10, at a public offering price of $102.00 per share. The total expected proceeds from the offering amount to $4 billion.

The offering is expected to close on June 12, 2025.

In addition, the company has granted the underwriters a 30-day option to purchase up to an additional $400 million in shares of common stock at the public offering price, less underwriting discounts.

The company expects that the net proceeds of the offering will be about $3.9 billion, after deducting underwriting discounts and expenses and assuming no exercise of the underwriters option to purchase additional shares.

The company plans to use the net proceeds of the offering to fund a portion of the consideration payable pursuant to that certain agreement and plan of merger by and among RSC Topco, Inc., a Delaware corporation (RSC), the Company, Encore Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of the Company, and Kelso RSC (Investor), L.P., a Delaware limited partnership, solely in its capacity as the equity holder representative, pursuant to which the company will acquire RSC, the holding company for Accession Risk Management Group, Inc. and to pay fees and expenses associated with the foregoing. If the transaction is not consummated, the Company intends to use the net proceeds of the offering for general corporate purposes.