Patriot National is four and a half years removed from a moment when its home-state regulators expressed concern that one of its subsidiaries was growing its premiums too quickly without adequate reserves – and now, the company is selling its stock to the public with an offering it hopes will bring in more than $141 million.
The deal will be used to pay off $123.1 million Patriot owes to UBS Securities and PennantPark Investment Corp., according to an amended prospectus the company filed with the U.S. Securities and Exchange Commission. Those deals were used in August to finance th...
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