BOC · Boston Omaha Corporation

Boston Omaha Corporation announced the signing of a definitive Securities Purchase Agreement to sell its wholly owned surety insurance unit, General Indemnity Group, LLC (GIG), to CopperPoint Insurance Company for $84.3 million in cash. The transaction represents a strategic divestiture of a non-core business that Boston Omaha acquired in 2016. Under the terms, CopperPoint will acquire 100% of GIG's equity, which includes United Casualty and Surety Insurance Company (UCS) and BOSS Bonds Insurance Agency. Approximately 93% of net proceeds will go to Boston Omaha, with the remainder to GIG's senior management. Additionally, prior to closing, GIG will distribute to Boston Omaha its 2.67 million shares of Sky Harbour Group Corporation common stock and $326,982 in cash from a prior asset sale. The purchase price is payable at closing, subject to deduction of transaction expenses, and $5.25 million will be held in escrow for two years to cover potential indemnification claims. The transaction has been approved by both companies' boards and is expected to close in the second half of 2026, pending regulatory approvals from the Nebraska Department of Insurance and other customary conditions. Boston Omaha's management believes the sale positions the surety business for continued growth under CopperPoint's scale and financial strength.