Todd Boehly backed Accelerant files for NYSE IPO
Snapshot
- Accelerant, an insurance-tech marketplace, submitted an IPO filing
- Morgan Stanley is the lead bookrunner
- It's a signal IPO market contines to thaw
Insurance-tech marketplace, Accelerant.ai, which is backed by financier Todd Boehly, has confirmed it is lining up a stock market float.
A statement by Accelerant announced the filing of documents for an initial public offering (IPO) in New York.
It has been nearly two years since prior reports that Accelerant was weighing a market float. June's success of Circle's IPO, and other recent market debutants, has evidently helped lift sentiments for new listings on Wall Street.
US investors had hoped for a stronger IPO market in 2025, and, after April's tariff disruption, and with the help of rampant appetite for 'stablecoin' and cryptocurrency-related ventures, especially, Wall Street now appears to be over the spring speedbump.
IPO proceeds are earmarked to redeem certain convertible preference shares and to pay management fees to the majority investor, Altamont Capital Partners.
Morgan Stanley, Goldman Sachs, BMO Capital Markets and RBC Capital Markets are listed as underwriters, and the company plans to trade under the symbol “ARX”.
Accelerant, previously recorded $178 million in revenue in its quarter ended 31 March, a 39% rise year-on-year, and it banked net income of $7.8 million, up from $2.1 million in the prior period.
Accelerant, founded in 2018, connects niche insurance sellers with institutional investors via data-driven platforms that accelerate underwriting and distribution.
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Todd Boehley, co-owner of Chelsea football club, is a minority shareholder in Accelerant via his vehicle Eldridge Industries, alongside other private-money backers of which Altamont Capital Partners is said to be the largest stakeholder.
