Company: SLDE
Filing Date: 2025-05-23
Form Type: S-1
Source: 0001193125-25-125836
Chunk: 129

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-05-23
Form: S-1
Chunk 129
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 the purchase of investments. For the three months ended March 31, 2025, cash flows used by financing activities was $1.5 million, a decrease of $0.3 million from the three months ended March 31, 2024, driven by increased debt payments as a result of new debt in 2024. For the year ended December 31, 2024, cash flows provided by operating activities was $553.9 million, an increase of $110.9 million from the year ended December 31, 2023, driven by increased renewals of policies in force. For the year ended December 31, 2024, cash flows used in investing activities was $204.0 million, an increase of $46.3 million from the year ended December 31, 2023, driven by growth in the investment portfolio. For the year ended December 31, 2024, cash flows used in financing activities was $2.4 million, a decrease of $22.9 million from the year ended December 31, 2023, primarily driven by preferred stock issued in January 2023. Seasonality of Our Business Our insurance business is seasonal as hurricanes typically occur during the period from June 1 through November 30 each year. With our catastrophe reinsurance program effective on June 1 each year, any variation in the cost of our reinsurance, whether due to changes to reinsurance rates or changes in the total insured value of our policy base, will occur and be reflected in our financial results beginning June 1 of each year, subject to certain adjustments. 88

Equity Issuances

Historically, we have funded our working capital requirements primarily through private issuances of our equity. The equity issuances described
below, which do not reflect the Stock Split, resulted in an aggregate of 10,344,235 shares of common stock and 9,340,750 shares of Series A preferred stock outstanding as of March 31, 2025 (without giving effect to the Stock Split),
reflecting total paid in capital of $126.8 million as of such date, exclusive of the effects of issuing redeemable shares.

From
November 2021 to January 2022, we issued and sold 7,775,496 shares of our Series A preferred stock at a price of $13.64 per share to a group of accredited investors for an aggregate purchase price of $106.0 million. Of the 7,775,496 shares