Shares of Trean Insurance Group, Inc. (TIG) are up more than 7% Thursday morning.
The company Wednesday announced the pricing of a secondary offering of 5 million shares at $14.00 per share.
Trean will not receive any proceeds from the offering as the company's selling stockholders are offering the stock.
The offering is expected to close on May 24, 2021.
TIG, currently at $15.38, has traded in the range of $9.90- $19.57 in the last one year.
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