NEW YORK--(BUSINESS WIRE)--Tiptree Inc. (NASDAQ:TIPT) (“Tiptree”) today announced that it has completed a corporate reorganization (the “Reorganization”) that eliminates Tiptree’s dual class stock structure. Effective April 10, 2018, as a result of the Reorganization, Tiptree directly owns 100% of Tiptree Operating Company, LLC, the operating subsidiary that holds all of Tiptree’s consolidated subsidiaries.
Effective April 10, 2018, Tiptree has 37,933,595 shares of Class A common stock outstanding (excluding 5,118,438 shares of Class A common stock held by a subsidiary of Tiptree). All Class B common stock were canceled in connection with the Reorganization and Tiptree’s Class A common stock is the only outstanding class of stock of Tiptree.
Tiptree Inc. (NASDAQ: TIPT) is a holding company that combines insurance operations with investment management expertise. Tiptree’s principal operating subsidiary is a leading provider of specialty insurance products and related services, including credit protection, warranty, and programs which underwrite niche personal and commercial lines of insurance. Tiptree also allocates capital across a broad spectrum of investments, which is referred to as Tiptree Capital. Today, Tiptree Capital consists of asset management operations, mortgage operations and other investments. For more information, please visit www.tiptreeinc.com.