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United Insurance Holdings Corp. Announces Pricing Of Common Stock Offering

United Insurance Holdings Corp. (OTCBB: UIHC) (the Company), a property and casualty insurance holding company, today announced that it has priced its previously announced underwritten public offering of 5,300,075 shares of its common stock, of which 5,000,000 shares will be sold by the Company and 300,075 shares will be sold by existing stockholders of the Company, at a price of $5.15 per share. The Company expects to receive net proceeds from this offering of approximately $23.9 million, after deducting underwriting discounts and commissions and other estimated expenses (or approximately $27.6 million if the underwriters exercise their over-allotment option in full). The Company will not receive any proceeds from the sale of the shares by the selling stockholders. In addition, the Company has granted the underwriters of the offering an option to purchase an additional 750,000 shares of the Company’s common stock to cover over-allotments, if any. Proceeds from this offering are intended for general corporate purposes, including statutory capital in support of growth. Subject to customary closing conditions, the offering is expected to close on or about December 14, 2012.

The Company’s application to list its common stock on The Nasdaq Capital Market has been approved, subject to notice of official issuance, and the Company expects that its common stock will begin trading on The Nasdaq Capital Market on December 11, 2012, under the symbol “UIHC.”

Raymond James & Associates, Inc. is serving as book-running manager of the offering and Sterne, Agee & Leach, Inc. is serving as co-manager. The offering will be made only by means of a prospectus. A copy of the prospectus relating to this offering may be obtained from Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716, (800)-248-8863.

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.

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