NI Holdings - Bet The Farm On This Crop Insurer [Seeking Alpha]
NI Holdings, Inc. (NODK)
US:NASDAQ Investor Relations:
niholdingsinc.com
Company Research
Source: Seeking Alpha
Summary Thesis NI Holdings (NASDAQ: NODK ) is a intermediate holding company which owns 100% of Nodak Insurance Company, formally Nodak Mutual. The company recently completed a private mutual insurance company to a public stock insurance company conversion by selling 45% of its 23M shares to its policyholders, employees, management and the public at $10 per share. The remaining 55% of the shares outstanding are non-economic and owned by Nodak Mutual Group, Inc. which acts as the Mutual Holding Company or MHC. The corporate structure is shown below: Investor enthusiasm for this stock was evidenced by the significant oversubscription to the conversion subscription; $250M worth of stock was requested by investors for the $103M maximum amount of stock offered. The fortunate investors who received the $10 stock from the conversion subscription saw their investment pop 40% on the first tick as the stock began trading around $14 on March 16. At the t
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NODK
News
- The past three years for NI Holdings (NASDAQ:NODK) investors has not been profitable [Yahoo! Finance]Yahoo! Finance
- NI Holdings, Inc. Reports Results for Fourth Quarter and Year Ended December 31, 2023 [Yahoo! Finance]Yahoo! Finance
- NI Holdings, Inc. Reports Results for Fourth Quarter and Year Ended December 31, 2023GlobeNewswire
NODK
Sec Filings
- 4/10/24 - Form ARS
- 4/10/24 - Form DEFA14A
- 4/10/24 - Form DEF
- NODK's page on the SEC website