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AI brief of an SEC Form 8-K · Palomar Holdings (PLMR)

Palomar completes $311 million Gray Surety acquisition and $450 million financing

Neutral Impact 4 of 5 m&a Written later

Palomar Holdings completed its acquisition of The Gray Casualty & Surety Company, effective January 31, 2026, paying approximately $311 million in cash funded by Term Loan proceeds and cash on hand. The company also closed $450 million in unsecured credit facilities, including a $150 million revolver and a $300 million term loan, maturing January 27, 2031. The CEO said the deal adds scale and geographic reach to Palomar's surety business, but the filing does not provide financial results for the acquired business.

Key points

  • Gray Surety acquisition effective January 31, 2026; purchase price of approximately $311 million paid in cash
  • Credit facilities total $450 million: $150 million revolver and $300 million term loan, maturing January 27, 2031
  • Term loan amortizes quarterly beginning June 30, 2026; interest at Term SOFR plus 1.5% to 1.75%, based on the Debt to Capital Ratio
  • Uncommitted incremental facilities of up to $100 million, subject to customary conditions

The filing

CompanyPalomar Holdings (PLMR)
Form8-K, current report
Filed with the SECFeb 2, 2026, 4:18 PM ET
Accession number0001193125-26-033708

Items reported: 1.01 Material Definitive Agreement2.01 Acquisition or Disposition Completed2.03 New Direct Financial Obligation7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 02, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.