The merger has closed and PRA shares will be delisted. Shareholders who have not yet tendered should expect to receive $25.00 per share in cash. No further trading in PRA common stock is expected. Monitor for the filing of Form 25 and Form 15 to complete the deregistration process.
Price Chart
Executive Summary
ProAssurance Corporation has been acquired by The Doctors Company in an all-cash merger. Each share of PRA common stock was converted into the right to receive $25.00 per share in cash. The merger closed on June 26, 2026, resulting in PRA becoming a wholly owned subsidiary of The Doctors Company. PRA has requested delisting from the NYSE and intends to deregister its common stock under the Exchange Act.
Key Facts
- Merger consideration of $25.00 per share in cash
- Merger closed on June 26, 2026
- PRA is now a wholly owned subsidiary of The Doctors Company
- PRA common stock to be delisted from NYSE and deregistered with SEC
- All outstanding PRA directors ceased; new board appointed by The Doctors Company
- Credit agreement with U.S. Bank repaid and terminated in connection with the merger
- Certificate of incorporation and bylaws amended and restated post-merger
Financial Impact
All-cash acquisition at $25.00 per share; total equity value approximately $1.3B based on market cap
Risk Factors
- Delisting and deregistration eliminate public market liquidity for PRA shares
- Minority shareholders have no further say in company governance post-merger
- Potential litigation challenging the merger consideration or process
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001127703-26-000032 |
| Exhibit: ex31certificateofincorpora.htm | 0001127703-26-000032 |
| Document: pra-20260626.htm | 0001127703-26-000032 |
| Document: 0001127703-26-000032-index-headers.html | 0001127703-26-000032 |
| Document: 0001127703-26-000032-index.html | 0001127703-26-000032 |
| Document: 0001127703-26-000032.txt | 0001127703-26-000032 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 6, 2026 12w ago | 15-12G | $25.00 awaiting T+20 | awaiting T+20 | โ | $22.12 (โ11.52%) |
Jun 26, 2026 14w ago | 25-NSE | $24.99 awaiting T+20 | awaiting T+20 | โ | $22.12 (โ11.48%) |
Jun 26, 2026 14w ago | 8-K | $24.99 awaiting T+20 | awaiting T+20 | โ | $22.12 (โ11.48%) |
Jun 2, 2026 17w ago | 8-K | $24.42 $25.00 | โฒ +2.38% | โฒ +3.37% | $22.12 (โ9.42%) |
Apr 8, 2026 25w ago | 10-K/A | $24.26 $24.60 | โฒ +1.40% | โผ โ6.17% | $22.12 (โ8.82%) |
US Market Status
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