Tiptree and Warburg Pincus Shelve Fortegra IPO Plans

Tiptree Financial (TIPT) has released an update to notify the public and investors about a regulation fd disclosure.

Tiptree Inc. and Warburg Pincus LLC have chosen to cancel the planned initial public offering of The Fortegra Group, Inc. due to current market conditions and their belief in Fortegra’s future growth potential. Despite withdrawing the IPO registration statement with the SEC, both parent companies reaffirm their commitment to Fortegra’s growth strategy. Fortegra had previously filed the now-withdrawn registration statement and issued a press release regarding this decision, emphasizing that the provided information does not constitute part of any formal financial filing.

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For a comprehensive understanding of the announcement, you can read the full document here.