Trean Insurance Group Announces Definitive Agreement To Be Acquired By Altaris Capital Partners For $6.15/Share In Cash

WAYZATA, Minn. and NEW YORK, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Trean Insurance Group, Inc. (NASDAQ:TIG) ("Trean" or the "Company"), a leading provider of products and services to the specialty insurance market, today announced that it has entered into a definitive merger agreement with affiliates of Altaris, LLC (collectively with its affiliates, "Altaris"), which currently owns approximately 47% of Trean's outstanding common stock. Under the terms of the agreement, Altaris will acquire all of the common stock that it does not currently own for $6.15 in cash per share, representing a 97% premium to Trean's closing price on December 15, 2022, the last trading day prior to this announcement and a 133% premium to the 30-day volume-weighted average price per share of $2.64 as of December 15, 2022.