1347 Property Insurance Holdings, Inc. Prices Public Offering of 8.00% Cumulative Preferred Stock, Series A

1347 Property Insurance Holdings, Inc. (Nasdaq: PIH) announced today that it has priced an underwritten public offering of 640,000 shares of 8.00% Cumulative Preferred Stock, Series A ("Cumulative Preferred Stock"), at a price of $25.00 per share, pursuant to a registration statement on Form S-1 previously filed with the U.S. Securities and Exchange Commission (the "SEC"). In addition, 1347 Property Insurance Holdings has granted the underwriters a 30-day option to purchase up to an additional 96,000 shares of Cumulative Preferred Stock. The offering is expected to close on or about February 28, 2018, subject to customary closing conditions.

1347 Property Insurance Holdings expects to receive net proceeds of approximately $14.9 million (or approximately $17.2 million if the underwriter exercises its option to purchase additional shares in full), after deducting estimated underwriting discounts and commissions, structuring fees and estimated offering expenses. 1347 Property Insurance Holdings intends to use the net proceeds of the offering to support organic growth, including spending for business development, sales and marketing and working capital, future potential acquisition opportunities, and to repurchase its Series B Preferred Stock from IWS Acquisition Corporation, an affiliate of Kingsway Financial Services, Inc.

Boenning & Scattergood, Inc. is acting as sole book-running manager, with American Capital Partners, LLC and Joseph Gunnar & Co., LLC acting as co-managers for the offering.

A registration statement relating to these securities has been filed with, and declared effective by, the SEC. This press release shall not constitute an offer to sell or a 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.

This offering will be made only by means of a written prospectus. A copy of the prospectus for the offering may be obtained, when available, from:

Boenning & Scattergood, Inc.
Attention: Prospectus Department
Four Tower Bridge, Suite 300
200 Barr Harbor Drive
West Conshohocken, PA 19428
Telephone: [phone]
Email: [e-mail]

You may also obtain a copy of the prospectus free of charge through the SEC's website, www.sec.gov, under the registrant's name "1347 Property Insurance Holdings.”