Presurance Holdings (CNFR) Registration Filing summary

Company overview and business model

• Historically focused on specialty property and casualty insurance, with operations in commercial lines, personal lines, and agency business; recent divestitures have shifted the model back to underwriting-based revenue, with most commercial business in run-off and ongoing specialty homeowners business in select states.

• Incorporated in Michigan in 2009, changed name to current form in September 2025, and trades on Nasdaq under the symbol PRHI.

Financial performance and metrics

• As of September 30, 2025, 12,222,881 shares of common stock were outstanding; up to 14,000,000 new shares may be issued in the rights offering, resulting in 26,222,881 shares post-offering.

• Net tangible book value per share as of September 30, 2025, was $2.03; post-offering, pro forma net tangible book value would be $1.48 per share, representing $0.48 anti-dilution to purchasers.

• Series B Preferred Stock ($7.5 million) and Series C Preferred Stock ($8 million) were issued in 2025, both to affiliates of a major shareholder.

Use of proceeds and capital allocation

• Net proceeds from the rights offering (up to $14 million) are intended for the repurchase or redemption of all Series B Preferred Stock and for general corporate purposes.

• The Backstop Purchasers may offset amounts payable for Series B Preferred Stock redemption against their purchase price for unsubscribed shares.