Kingstone targets ratings upgrade with $30mn capital raise

Kingstone Companies has priced a $30mn share issue to bolster
capital as it continues its pursuit of a ratings upgrade from AM
Best.
The Kingston, New York-based insurer announced this morning that
it has priced an offering of 2.95 million shares of common stock,
including 450,000 shares to be sold by investors, at $12.00 a
share. The stock trades on the Nasdaq market.
Estimated net proceeds from the issue will contribute capital to
its operating subsidiary Kingstone Insurance Company &qu...