Accelerant (ARX) Soars 26% on Market Debut

We recently published Rally Alert: 10 Stocks That Just Made Investors Richer. Accelerant Holdings (NYSE:ARX) is one of the best-performing stocks on Thursday.

Insurance firm Accelerant Holdings saw its share price surge by 26.19 percent on its first day as a publicly listed company, underscoring strong investor confidence in its stock.

In intra-day trading, Accelerant Holdings (NYSE:ARX) rallied by as high as 40 percent to hit $29.45 from its initial public offering price of $21, before paring gains to end the day at $26.5 apiece.

The company was able to raise $724 million from its IPO, covering 34.5 million shares. The offering consisted of 20.28 million common shares from Accelerant Holdings (NYSE:ARX) and some 14.18 million shares from other existing shareholders.

They had earlier planned on selling 29 million shares at a price ranging from $18 to $20 apiece.

Accelerant (ARX) Soars 26% on Market Debut

Accelerant Holdings (NYSE:ARX) said it will not receive any proceeds from the shares sold by existing shareholders.

Founded in 2018, Accelerant Holdings (NYSE:ARX) operates as an insurance marketplace connecting niche sellers with institutional investors.

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