TWFG, Inc., a personal and commercial brokerage firm, announced the launch of its initial public offering (IPO) of 11,000,000 shares of Class A common stock, according to a registration statement filed with the Securities and Exchange Commission (SEC).

The initial public offering price is expected to be between $14 and $16 per share. The company also granted underwriters the option to purchase up to 1,650,000 additional shares of Class A common stock. TWFG plans to list its Class A common stock on the Nasdaq Global Select Market under the symbol “TWFG.”

Upon completion of the IPO, TWFG will become the sole managing director of TWFG Holding Company, LLC, overseeing all operations and business affairs, TWFG said.

TWFG will use the net proceeds from the IPO to purchase newly issued LLC units of TWFG Holding Company, LLC, equal to the number of shares of Class A common stock issued in the IPO. These LLC units will be purchased at the IPO price per share of Class A common stock, less underwriting discounts and commissions.

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TWFG will also direct TWFG Holding Company, LLC to use the proceeds to pay fees and expenses in connection with the IPO and reorganization transactions, repay outstanding debt under the Revolving Credit Agreement, and fund potential strategic acquisitions or investments in companies or technologies consistent with its expansion strategies and general corporate purposes.

J.P. Morgan, Morgan Stanley, BMO Capital Markets and Piper Sandler are jointly managing the offering. RBC Capital Markets, UBS Investment Bank, Keefe, Bruyette & Woods, William Blair and Dowling & Partners Securities LLC are also joint bookrunners for the proposed offering. The offering will be made only by means of a prospectus.

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