Patriot National Announces Launch of Follow-on Offering

PatriotPatriot National, Inc. (NYSE: PN), today announced the commencement of a public offering of $80,000,000 of its common stock pursuant to a registration statement on Form S-1 with the Securities and Exchange Commission (“SEC”).

The Company is offering $55,000,000 of its common stock and the selling stockholders named in the registration statement are offering $25,000,000 of common stock. To the extent that the underwriters sell more than $80,000,000 of common stock, the underwriters may also purchase up to an additional $12,000,000 of common stock within 30 days from the date of the offering.

The Company expects to use the net proceeds from the offering to finance its growth plans including future acquisitions, for working capital and other general corporate purposes, and to repay all outstanding amounts under its revolving credit facility, which were$10.8 million of outstanding principal amount as of September 30, 2015. The Company will not receive any proceeds from the sale of shares by the selling stockholders.

BMO Capital Markets Corp. and J.P. Morgan are acting as joint book-running managers of the offering, and JMP Securities LLC,William Blair & Company, L.L.C. and Fifth Third Securities, Inc. are acting as co-managers of the offering.

The offering will be made only by means of a prospectus.  Copies of the preliminary prospectus related to the offering may be obtained from BMO Capital Markets Corp., Attention: Equity Syndicate Department, 3 Times Square, 27th Floor, New York, NY 10036, or by telephone at (800) 414-3627 or email at bmoprospectus@bmo.com; or from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Prospectus Department, or by calling 866-803-9204.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Patriot National

Patriot National, Inc. is a national provider of comprehensive technology and outsourcing solutions that help insurance companies and employers mitigate risk, comply with complex regulations and save time and money. Patriot National provides general agency services, technology outsourcing, software solutions, specialty underwriting and policyholder services, claims administration services, self-funded health plans and employment pre-screening services to its insurance carrier clients, employers and other clients. Patriot National is headquartered in Fort Lauderdale, Florida.

Forward Looking Statements

This press release may include statements that may be deemed to be forward-looking statements. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook” and similar expressions are used to identify these forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties, and there are important factors that could cause results to differ materially from those indicated in these statements, including the potential that agreements with current or former executives will not be finalized on terms favorable to us or at all, as well as those matters contained in our filings with the Securities and Exchange Commission. Although we base these forward-looking statements on assumptions that we believe are reasonable when made, we caution you that forward-looking statements are not guarantees of future performance or events and that results may differ materially from statements made in or suggested by the forward-looking statements contained in this press release. Any forward-looking statement that we may make in this press release speaks only as of the date of such statement, and we undertake no obligation to update any forward-looking statement or to publicly announce the results of any revision to any of those statements to reflect future events or developments.