Kingstone to price $15 million public stock sale week of Dec. 9

Sandler O'Neill & Partners is bookrunner; offering funds growth

By Devika Patel

Knoxville, Tenn., Dec. 3 - Kingstone Cos. Inc. will price its $15 million public offering of stock with a greenshoe in the week of Dec. 9, according to a free writing prospectus filed Tuesday with the Securities and Exchange Commission. The deal was announced Oct. 15.

The company expects to sell about 2.5 million common shares.

Sandler O'Neill & Partners, LP is the bookrunning manager.

Proceeds will be used to support growth, including product expansion; to repay debt; and for general corporate purposes, including acquisitions.

The Hewlett, N.Y., company provides property and casualty insurance products to small businesses and individuals.

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