Online life insurance service provider Ethos Technologies (LIFE.US) has priced its U.S. initial public offering (IPO) at $19 per share. This pricing sits precisely at the midpoint of the previously announced offering range of $18 to $20 per share. The company is issuing a total of 10.5 million ordinary shares in this IPO, with approximately half being newly issued by the company and the other half being sold by existing shareholders, raising a maximum of $210.5 million in total proceeds. Based on the $19 pricing, Ethos's fully diluted market capitalization is approximately $1.3 billion. While this represents a decrease from the $2.7 billion valuation it achieved during a funding round led by SoftBank Vision Fund in 2021, the current pricing reflects investors' stable expectations for high-quality assets within the insurtech sector amidst the present capital market conditions. In terms of financial performance, Ethos has demonstrated profitability that surpasses many of its startup peers. According to its prospectus filed with the U.S. Securities and Exchange Commission (SEC), the company generated revenue of $277.5 million and achieved a net profit of $46.6 million for the nine months ended September 30, 2025. Compared to other insurtech companies still reporting significant losses, Ethos, leveraging its streamlined underwriting model based on big data and machine learning, has successfully maintained a healthy profit curve while achieving rapid growth, which serves as a key underpinning for its successful pricing during a period of market volatility. Founded in 2016 and headquartered in San Francisco, California, the company operates a digital platform that integrates functions for the distribution, underwriting, policy issuance, payment, and administration of life insurance. This platform handles consumer applications and services, provides agents with sales and policy management tools, and offers underwriting and management support for carriers. Ethos states that its platform and underwriting engine have transformed the way life insurance is purchased, sold, and risk-managed, helping customers obtain coverage in minutes rather than months. Ethos is scheduled to officially commence trading on the Nasdaq exchange on Thursday, January 29, 2026, under the ticker symbol "LIFE".
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