04:40 AM EDT, 05/23/2024 (MT Newswires) -- Bowhead Specialty Holdings ( BOW ) said late Wednesday it priced its initial public offering of 7.5 million common shares at $17 per share for expected gross proceeds of $128 million.

The underwriters have been granted a 30-day option to purchase up to 1.1 million additional shares.

Net proceeds will be used for capital contributions into a subsidiary and for general corporate purposes, the specialty insurance company said.

Closing of the offering is expected to occur on May 28, and the shares are expected to debut on the New York Stock Exchange on Thursday under the ticker "BOW."