Company: SLDE
Filing Date: 2025-04-25
Form Type: DRS/A
Source: 0000950123-25-003716
Chunk: 120

Company: Slide Insurance Holdings, Inc.
Filing Date: 2025-04-25
Form: DRS/A
Chunk 120
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 |     |     |         (111.8 | )% |
| Net increase in cash              |     |             |                          347,480 |   |     |     |  213,172 |   |     |     | 134,308 |   |     |     |           63.0 | %  |

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. 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 10,222,576 shares of common stock and 9,340,750 shares of Series A preferred stock outstanding as of December 31, 2024 (without giving effect to the Stock Split), reflecting total paid in capital of $123.5 million as of such date, exclusive of the effects of issuing redeemable shares. From November 2021 to January 2022, we issued and sold 7,333,313 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 $100 million. Of the 7,333,313 shares sold, an aggregate of 2,039,