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0.0102938022732146 0.00461076560154399 0.00407463006648076 -0.00696976195582249 -0.0159768389448852 -0.0275573665022518 -0.0312030881406819 -0.0379583958824792
Stock impact report

The Baldwin Group Announces Signing of $110 Million Note Purchase Agreement in Connection with Launch of Debut Baldwin-Sponsored Reciprocal Insurance Exchange

The Baldwin Insurance Group, Inc. - Class A (BWIN) 
Company Research Source: Business Wire
TAMPA, Fla.--(BUSINESS WIRE)--The Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (“Baldwin” or the “Company”) (NASDAQ: BWIN), announced today that, in connection with the anticipated launch of its debut Baldwin-sponsored reciprocal insurance exchange, Builder Reciprocal Insurance Exchange (“BRIE”), BRIE has entered into a note purchase agreement to raise $110 million of surplus financing through the issuance of surplus debentures (the “Notes”). $95 million of the Notes will be funded by an affiliate of Gallatin Point Capital LLC (“Gallatin Point”), with the remainder funded by affiliates of Baldwin. The closing of the note purchase agreement and funding of the Notes is expected to occur in the second quarter of 2025, subject to customary closing conditions including applicable regulatory approvals.“We are extremely excited about the signing of the note purchase agreement with Gallatin Point, a leading financial services investor, which will enable the successf Show less Read more
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