Porch Group, Inc. announced on October 30, 2026, the entry into a distribution agreement with StoneX Financial Inc. acting as sales agent. The agreement, entered into by Porch Reciprocal Exchange and Porch Group, Inc., outlines a plan to sell common stock through an at-the-market offering.
Under the terms of the agreement, Porch Reciprocal Exchange may offer and sell up to 10 million shares of Porch common stock that it currently holds. Porch Group, Inc. may also offer, issue, and sell up to 5 million shares of its common stock. Porch Reciprocal Exchange currently holds approximately 16.2 million shares of Porch common stock, a portion of which constitutes a non-admitted asset subject to statutory investment limitations under Texas insurance law. The agreement provides an opportunity to convert these holdings into cash that qualify as fully admitted assets on the Reciprocal's statutory financial statements.
The Reciprocal may use net proceeds from the sale of its shares for general corporate purposes, including strengthening its admitted surplus position, improving liquidity, financing acquisitions, and maintaining its financial stability rating. Porch Group may use net proceeds from the sale of its shares for general corporate purposes. Neither the Company nor the Reciprocal has an obligation to sell any of the shares, and sales may be suspended or the agreement terminated at any time.
StoneX Financial Inc. will act as sales agent and will receive a cash commission of 1.5% of the gross proceeds from the sale of the shares. The Company will also reimburse the Sales Agent for certain specific expenses. The shares will be issued pursuant to the Company’s registration statement on Form S-3 (Registration No. 333-299730), filed with the SEC on October 30, 2026. A prospectus supplement was also filed with the SEC on the same date.
