1347 Property Insurance Holdings, Inc. Announces Upgrade to Nasdaq Global Market
TAMPA, Fla.--(BUSINESS WIRE)-- 1347 Property Insurance Holdings, Inc. (NASDAQ:PIH) (the “Company” or “PIH”), an insurance holding company that focuses on offering property and casualty insurance to individual and commercial customers, and is currently writing business in Louisiana and Texas through its wholly-owned subsidiary, Maison Insurance Company (“Maison”), today announced that the Company applied for and received a notice of approval from the NASDAQ Listing Qualifications Department to upgrade the listing of the Company's securities from the NASDAQ Capital Market to the NASDAQ Global Market, effective with the opening of business on Monday, July 13, 2015. The Company’s stock will continue trading under the ticker symbol "PIH."
The NASDAQ Global Market is the segment for public companies that meet the higher listing standards of NASDAQ with requirements that include market value, financial and liquidity measurements and corporate governance standards.
Doug Raucy, Chief Executive Officer, stated, “We are very pleased to upgrade to Nasdaq Global Market and see it as both an indication of our evolving achievements as well as an opportunity to increase our visibility amongst the investor community and share our success with a broader audience.”
About 1347 Property Insurance Holdings, Inc.
1347 Property Insurance Holdings, Inc. is a property and casualty insurance holding company incorporated in Delaware. The Company provides property and casualty insurance in Louisiana and Texas through its wholly-owned subsidiary Maison Insurance Company. The Company’s insurance offerings for personal and commercial customers currently include homeowners, wind and hail only, manufactured home and dwelling fire policies.
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts, and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. Words such as "expects", "believes", "anticipates", "intends", "estimates", "seeks" and variations and similar words and expressions are intended to identify such forward-looking statements. Such forward-looking statements relate to future events or future performance, but reflect Company management's current beliefs, based on information currently available. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2014. Except as expressly required by applicable securities law, the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Additional information about 1347 Property Insurance Holding, Inc., including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, can be found at the U.S. Securities and Exchange Commission's website at www.sec.gov, or at the Company’s corporate website: www.1347pih.com.
1347 Property Insurance Holdings, Inc.
Douglas N. Raucy, 813-579-6210
Chief Executive Officer
The Equity Group Inc.
Terry Downs, 212-836-9615
Source: 1347 Property Insurance Holdings, Inc.