WESTAIM Corp Discloses Passive Stake in Skyward Specialty Insurance

TL;DR

**WESTAIM Corp just revealed a big, passive stake in Skyward Specialty Insurance.**

AI Summary

WESTAIM Corp, a Canadian company, filed an SC 13G on February 8, 2024, disclosing its ownership of Skyward Specialty Insurance Group, Inc. (NASDAQ: SKWD) common stock as of December 31, 2023. This filing indicates that WESTAIM is a passive investor, holding a significant stake in the insurance company. This matters to investors because a large, passive institutional holder like WESTAIM can provide stability and a vote of confidence in Skyward Specialty's long-term prospects, potentially reducing volatility.

Why It Matters

This filing signals a significant, passive institutional investment in Skyward Specialty, which can be viewed positively by the market as a vote of confidence.

Risk Assessment

Risk Level: low — This filing indicates a passive investment, which generally carries lower risk than active or activist stakes, suggesting stability.

Analyst Insight

A smart investor would note this institutional backing as a potential positive signal for Skyward Specialty's stability, but should still conduct their own due diligence on the company's fundamentals.

Key Numbers

• 830940102 — CUSIP Number (identifies Skyward Specialty Insurance Group, Inc. common stock)

Key Players & Entities

• WESTAIM Corp (company) — reporting person and filer of the SC 13G
• Skyward Specialty Insurance Group, Inc. (company) — subject company whose securities are being reported
• December 31, 2023 (date) — date of the event requiring the filing
• February 8, 2024 (date) — filing date of the SC 13G
• $0.01 (dollar_amount) — par value per share of Skyward Specialty's common stock

Forward-Looking Statements

• WESTAIM Corp will maintain its passive investment in Skyward Specialty Insurance Group, Inc. for the foreseeable future. (WESTAIM Corp) — high confidence, target: December 31, 2024

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• ea193235-13gwestaim_skyward.htm (SC 13G) — 83KB
• ea193235ex99-1_skyward.htm (EX-99.1) — 9KB
• 0001213900-24-011652.txt ( ) — 94KB

(a)

Item 1(a). Name of Issuer Skyward Specialty Insurance Group, Inc. (the “ Issuer ”)

(b)

Item 1(b). Address of Issuer’s Principal Executive Offices 800 Gessner, Suite 600, Houston, TX 77024

(a)

Item 2(a). Name of Person Filing The Westaim Corporation and Westaim HIIG GP Inc. (collectively, the “ Reporting Persons ”)

(b)

Item 2(b). Address of Principal Business Office or, if None, Residence The head office for The Westaim Corporation is 70 York Street, Suite 1700, Toronto, Ontario M5J IS9 Canada. The registered office for Westaim HIIG GP Inc. is 70 York Street, Suite 1700, Toronto, Ontario M5J IS9 Canada.

(c)

Item 2(c). Citizenship The Westaim Corporation is a corporation formed in Alberta, Canada. Westaim HIIG GP Inc. is a corporation formed in Ontario, Canada.

(d)

Item 2(d). Title of Class of Securities Common Stock, par value $0.01 per share

(e)

Item 2(e). CUSIP Number 830940102 Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a: Not Applicable. Item 4. Ownership With respect to the beneficial ownership of the Reporting Persons, see Items 5 through 11 of the cover pages to this Schedule 13G, which are incorporated herein by reference. The Westaim Corporation owns 100% of Westaim HIIG GP Inc. As such, each of The Westaim Corporation and Westaim HIIG GP Inc. may be deemed to have beneficial ownership of the securities directly held by Westaim HIIG GP Inc. Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not Applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. Not Applicable. Item 8. Identification and Classification of Members of the Group. Not Applicable. Item 9. Notice of Dissolution of Group. Not Applicable. Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. CUSIP No. 830940102 SCHEDULE 13G Page 4 of 5

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 8, 2024 the WESTAIM CORPoration /s/ Rob Kittel Rob Kittel Chief Operating Officer WESTAIM HIIG GP INC. /s/ Glenn MacNeil Glenn MacNeil Chief Financial Officer CUSIP No. 830940102 SCHEDULE 13G Page 5 of 5 Exhibit Index Exhibit No. Description 99.1 Joint Filing Agreement, dated as of February 8, 2024, by and among the Reporting Persons