NEW YORK, NY – Stonybrook Capital & Risk Management (“Stonybrook”) is pleased to announce that Dallas-based AM Specialty (the “Company” or “ASIC”), a specialty insurance carrier, has secured a $20,000,000 senior secured loan facility through a private placement with Veritex Community Bank. Proceeds from the Offering will be used to bolster surplus and drive future growth.
Stonybrook served as the Company’s Exclusive Financial Advisor in connection with the debt issuance.
Shevawn Barder, CEO, ASIC, commented: “We are thrilled to have secured this capital partnership with Veritex Bank, which will help us to strengthen our financial position and fuel our future growth. This transaction, expertly advised by Stonybrook, is a key step in our long-term strategy to expand our capabilities and better serve our partners and clients in the specialty insurance market.”
Joe Scheerer, CEO, Stonybrook, commented: “We could not be any more pleased to have served as ASIC’s advisor on this very important transaction. ASIC is a fantastic company and is growing rapidly. Stonybrook is proud to be their advisor on this and many more to come.”
About ASIC:
AM Specialty Insurance Company (“ASIC”) is an AM Best “A-“ rated, Excess and Surplus (E&S) lines carrier and accredited reinsurer that partners with Managing General Agents (MGAs) to provide specialized insurance solutions. ASIC’s innovative ‘underwriting-first’ approach and comprehensive specialty insurance solutions help businesses across the U.S. thrive in complex and dynamic environments. Earlier this year, ASIC (through parent AM Holding Company) expanded its global presence with new offices in New York, London, and Milwaukee, further strengthening its position as a leader in the E&S market.
About Stonybrook:
Stonybrook Capital is a global investment banking and reinsurance broking firm, headquartered in New York City, that focuses exclusively on the insurance and reinsurance industry. Founded in 2012 and was ranked #2 behind Goldman Sachs in the S&P advisory league tables for 2022.
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Corporate contact:
Kendel Bell
[email protected]
Securities transactions are executed through Weild & Co., member FINRA | SIPC