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An update from Conifer Holdings ( (CNFR) ) is now available.
Conifer Holdings, Inc. finalized the divestiture of its insurance agency operations, Conifer Insurance Services, for $45 million with additional earn-out payments of up to $25 million based on future performance. They also sold their interest in Sycamore Specialty Underwriters for $6.5 million. These sales mark Conifer’s exit from insurance agency operations and an expected significant revenue drop. Nicholas Petcoff resigned as CEO, with Brian Roney stepping into the role. Conifer aims to comply with Nasdaq’s stockholders’ equity requirement post-sale to avoid delisting.
See more data about CNFR stock on TipRanks’ Stock Analysis page.