Boston Omaha Corporation has completed the sale of its General Indemnity Group (GIG) business unit to CopperPoint Insurance Company. The transaction, finalized on October 23, 2026, involves the transfer of GIG, BOSS Bonds Insurance Agency, LLC, and United Casualty and Surety Insurance Company to CopperPoint.
The sale was structured as an all-cash transaction with a gross purchase price of $84,308,757.68. Boston Omaha received net proceeds of $75,341,353 at closing, which reflects the gross sales price less transaction expenses, a $5,250,000 escrow fund, certain sale bonuses, and equity interests held by GIG management.
Additionally, Boston Omaha is set to receive approximately 92.9% of the $5,250,000 escrow fund, which will be released to the Sellers two years after the closing. These escrowed funds are intended to secure representations and warranties, with CopperPoint’s recourse against the Sellers capped at $5,250,000.
Immediately prior to the closing, GIG returned 2,673,831 shares of Sky Harbour Class A common stock (NYSE:SKYH) to Boston Omaha. Furthermore, GIG distributed a final cash dividend of $326,371 to Boston Omaha, representing the remaining cash received from the sale of a preferred stock position in Breezeway Homes, Inc. in January 2026.
Boston Omaha plans to hold the proceeds as cash and cash equivalents to fund opportunities within its current businesses, new investments, and a recently announced $30 million share repurchase plan.
