Orion180 Insurance Shares Decline in Nasdaq Debut After $12 IPO

Shares of Orion180 Insurance Group Inc. (NASDAQ: OIG) began trading at $11.50 on Wednesday, a discount to the $12.00 initial public offering price set the prior evening. The soft open suggests tepid initial investor demand for the specialty insurance provider.

Offering Details

Orion180 sold 20 million shares of its Class A common stock in the offering, according to the company's statement. The debut price of $11.50 represents a 4.2% drop from its IPO price.

Underwriters for the deal have been granted a 30-day option to purchase up to an additional 3 million shares at the IPO price, less commissions. The offering is anticipated to close on September 21, 2026, pending customary closing conditions.

Leading the offering are several major financial institutions:

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• Lead book-running managers: RBC Capital Markets, UBS Investment Bank, and Raymond James.
• Book-running managers: Goldman Sachs & Co. LLC, Deutsche Bank Securities, Citizens Capital Markets, and Texas Capital Securities.

Company Background

Founded in 2018, Orion180 provides homeowners and flood insurance solutions, distributing its products through a network of over 14,000 independent agents across 14 states as of June 30, 2026. The company states it is the second-largest U.S. provider of excess and surplus lines homeowners insurance based on direct written premiums.