Neptune Insurance Holdings Inc. (the "Company") (NYSE:NP), the parent company of Neptune Flood Incorporated, today announced the launch of its public offering for the sale of 8,355,615 shares of its Class A common stock by certain selling securityholders. In addition, the selling securityholders intend to grant the underwriters a 30-day option to purchase up to an additional 1,253,342 shares of Class A common stock.

As part of the proposed offering, the Company intends to concurrently purchase from the underwriters 835,561 shares of Class A common stock at a price per share equal to the price per share to be paid by the underwriters to the selling securityholders in the proposed offering. The repurchased shares of Class A common stock will be retired and will no longer be outstanding after the proposed offering. The completion of the share repurchase is contingent on the satisfaction of customary closing conditions and conditioned upon the completion of the proposed offering.