[March 31, 2014]

1347 Property Insurance Holdings, Inc. Announces Pricing of Its Initial Public Offering of Common Stock

1347 Property Insurance Holdings, Inc. (NASDAQ:PIH) ("PIH" or "the Company"), a property and casualty insurance holding company offering homeowners and dwelling insurance to individuals in Louisiana through its wholly-owned subsidiary Maison Insurance Company, announced today the pricing of its initial public offering of 1,887,500 shares of its common stock at a price to the public of $8.00 per share. PIH has granted the representative of the underwriters a 45-day option to purchase up to 283,125 additional shares of common stock to cover over-allotments, if any.

Shares of PIH common stock are expected to trade on The NASDAQ Capital Market under the symbol "PIH" beginning on or about April 1^st, 2014. The closing of the offering is expected on or about April 4^th, 2014 subject to customary closing conditions.

Aegis Capital Corp. is acting as sole book-running manager for the offering.

EarlyBirdCapital, Inc. is acting as a co-manager for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on March 31st, 2014.

This offering is being made only by means of a prospectus. Copies of the prospectus relating to this offering may e obtained by contacting Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New York, NY 10019, telephone: 212-813-1010, e-mail: [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements. Such forward-looking statements reflect PIH's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding the intended terms of the offering and the closing of the offering. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "target", "intend" and "expect" and similar expressions, as they relate to PIH or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to PIH and are subject to a number of risks, uncertainties, and other factors that could cause PIH actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.

About 1347 Property Insurance Holdings, Inc.

1347 Property Insurance Holdings, Inc. is a property and casualty insurance holding company incorporated in Delaware. In December 2012, the Company began providing property and casualty insurance to individuals in Louisiana through its wholly-owned subsidiary Maison Insurance Company. The Company's insurance offerings currently include homeowners' insurance, manufactured home insurance and dwelling fire insurance.

Additional information about 1347 Property Insurance Holding, Inc. can be found at the Company's corporate website: www.1347pih.com.

[ Back To TMCnet.com's Homepage ]