ProAssurance completes merger with The Doctors Company for $25 per share
ProAssurance Corporation completed its merger with The Doctors Company on June 26, 2026, with ProAssurance shareholders receiving $25.00 per share in cash. The merger was effected through Jackson Acquisition Corporation merging with and into ProAssurance, with ProAssurance becoming a wholly owned subsidiary of The Doctors Company. In connection with the closing, ProAssurance's common stock was delisted from the New York Stock Exchange, all outstanding debt under its Second Amended and Restated Credit Agreement was repaid and terminated, and the company's board and officer slate were replaced with designees of The Doctors Company.
Key facts
- Merger consideration: $25.00 per share in cash
- Effective date: June 26, 2026
- ProAssurance is now a wholly owned subsidiary of The Doctors Company
- All restricted stock units became fully vested and converted to cash at merger consideration
- All performance shares vested at deemed target level and converted to cash at merger consideration
- Second Amended and Restated Credit Agreement dated April 28, 2023 fully repaid and terminated
- Merger Agreement dated March 19, 2025 between ProAssurance, The Doctors Company, and Jackson Acquisition Corporation
- New directors: Robert E. White Jr., Marco Vanderlaan, David A. McHale
- New officers: Richard Anderson (Chairman and CEO), Robert E. White Jr. (President), Marco Vanderlaan (CFO and Treasurer), David A. McHale (Secretary)
- ProAssurance common stock delisted from NYSE on June 26, 2026
Why it matters
ProAssurance shareholders received their merger consideration and the company ceased to be a public company; the cash-out at $25 per share represents the final settlement of shareholder interests in what was previously a standalone medical liability insurer.
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Derived from 8-K filed 2026-06-26. Not investment advice. View the source filing on SEC.gov →