UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
On September 5, 2024, Ryan Specialty Holdings, Inc. (“Ryan Specialty”) issued a press release announcing that Ryan Specialty, LLC (the “Company”), an indirect subsidiary of Ryan Specialty, priced a private offering of $600.0 million in aggregate principal amount of its 5.875% Senior Secured Notes due 2032 (the “Notes”), which represents an increase of $100.0 million from the previously announced aggregate offering size. The Notes were priced at 100% of par. The sale of the Notes is expected to be completed on September 19, 2024, subject to customary closing conditions.
The Company will use the net proceeds from the offering of the Notes to repay a portion of the borrowings under its senior secured revolving credit facility, which borrowings were used, together with cash on hand, to fund the acquisition of US Assure Insurance Services of Florida, Inc., which was consummated on August 30, 2024 for approximately $1.075 billion. A copy of the press release issued in connection with the offering is attached hereto as Exhibit 99.1 and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. |
Description of Exhibit | |
| 99.1 | Press Release, dated as of September 5, 2024 | |
| 101 | Cover Page Interactive Data File (cover page XBRL tags are embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| RYAN SPECIALTY HOLDINGS, INC. | ||||||
| Date: September 5, 2024 | By: | /s/ Mark S. Katz | ||||
| Name: | Mark S. Katz | |||||
| Title: | Executive Vice President, General Counsel and Corporate Secretary | |||||