Kingstone Companies announced it became debt-free by February 2025, successfully paying off approximately $20 million in holding company debt over a five-month period. This significant financial achievement was accomplished by utilizing proceeds from an at-the-market (ATM) offering and intercompany dividends.
The elimination of this debt is expected to save the company over $800,000 annually in interest expense. This reduction in financial obligations directly contributes to improved profitability and strengthens the company's financial health.
Achieving a debt-free balance sheet provides Kingstone with greater financial flexibility and ensures sufficient statutory surplus to support planned growth initiatives. This strategic move enhances the company's capacity for future expansion and investment.
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