US insurtech company Ethos begins IPO roadshow, seeks up to $1.3bn valuation

US-based security exertion (insurtech) institution Ethos has launched its archetypal nationalist offering (IPO) roadshow, with plans to execute a valuation arsenic precocious arsenic $1.3bn.

Ethos filed for an IPO with the US Securities and Exchange Commission successful September of past year.

Combined, the institution and its shareholders mean to rise up to $211m by offering astir 10.5 cardinal shares.

Of the total, Ethos volition straight connection 5.1 cardinal shares, with investors including Alphabet's GV and General Catalyst divesting astir 5.4 cardinal shares.

The terms scope for the offering has been acceptable astatine $18–20 per share.

Following completion, Ethos expects its Class A communal banal to commercialized nether the ticker 'LIFE' connected the Nasdaq Global Select Market.

Ethos operates a exertion level intended to streamline respective aspects of beingness security operations specified arsenic distribution, underwriting, activation, payments and administration.

The company’s strategy is designed to bring assorted security processes onto a azygous level and alteration merchandise improvement and pricing adjustments.

Its exertion process integrates real-time validation against third-party data, aiming to trim errors for applicants and agents.

Ethos' underwriting motor uses predictive analytics and information feeds to enactment hazard appraisal and argumentation issuance.

The institution besides provides beingness security products, on with offerings related to wills and property planning.

The funds raised are earmarked for strengthening the company’s superior presumption and supporting a nationalist listing of its shares.

Some proceeds volition beryllium utilized to conscionable taxation obligations tied to restricted banal units. Remaining superior whitethorn beryllium allocated for wide concern purposes, which could see acquisitions oregon strategical investments if due opportunities arise.

The IPO is being managed by Goldman Sachs & Co. and J.P. Morgan arsenic pb book-runners.

BofA Securities, Barclays, Citigroup and Deutsche Bank Securities are the further book-runners, with Citizens Capital Markets, William Blair and Baird arsenic co-managers.

"US insurtech institution Ethos begins IPO roadshow, seeks up to $1.3bn valuation" was primitively created and published by Life Insurance International, a GlobalData owned brand.

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