Financing ·
On June 10, 2026, Porch Group, Inc. subsidiary Porticus Reinsurance Ltd. entered into a Securities Purchase Agreement…
PRCHPorch Group, Inc.
On June 10, 2026, Porch Group, Inc. subsidiary Porticus Reinsurance Ltd. entered into a Securities Purchase Agreement with Porch Reciprocal Exchange. Porticus purchased 2,092,050 shares of common stock for an aggregate price of $14,999,998.50, representing $7.17 per share. The transaction follows regulatory approvals from the Texas Department of Insurance and the Cayman Islands Monetary Authority. This exchange of common stock for cash aims to increase the Reciprocal's statutory surplus by converting non-admitted assets into cash. The Reciprocal retains approximately 16.2 million shares. Porch Group, Inc. provides technology-enabled insurance and home services.