In the last year, MIDWEST HOLDING INC generated $12.8 million in revenue and $1.6 million in net income. The company has a market-cap of $269.3 million.
Piper Sandler served as the underwriter for the IPO and JMP Securities was co-manager.
MIDWEST HOLDING INC provided the following description of their company for its IPO: “(Note: This is not an IPO. This is a step-up, or an uplift, to the NASDAQ from the OTCQB. IPOScoop has a “No Call” rating on this deal because it is a step-up or uplift deal, also known as an up-listing. Total revenue and net income figures are consolidated GAAP figures for the last 12 months, based on financial information in the prospectus.) We are a rapidly growing financial services company focused on providing technology-enabled and services-oriented solutions to distributors and reinsurers of annuity and life insurance products in the United States. We utilize our technology platform and insurance company capabilities supported by reinsurance to develop and distribute what we believe to be competitive insurance products through third-party independent marketing organizations (“IMOs”). We seek to provide cost-effective and efficient policy administration services and asset management services as a comprehensive solution for reinsurers. We operate our business primarily through three subsidiaries, American Life, 1505 Capital, which provides investment advisory and related asset management services, and Seneca Re. American Life is licensed to sell, underwrite, and market life insurance and annuity products in 21 states. We also provide insurance company administrative services through a division known as “m.pas” that was formed in 2019. “.
MIDWEST HOLDING INC was founded in 2003 and has 41 employees. The company is located at 2900 South 70th Street, Suite 400 Lincoln, Nebraska 68506 and can be reached via phone at (402) 489-8266 or on the web at http://www.midwestholding.com/.
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