IPO news, reviews, and company spotlights.

INNIO Brings AI-Power Heat to a $2 Billion Sponsor Exit

INNIO has real data-center demand, but this IPO mainly cashes out the seller

Lincoln Clears, the Rest of the Calendar Stays in Filing Mode

Lincoln broke through; the rest of the IPO week stayed in amendment mode

Lincoln International priced its IPO on May 19 (https://www.prnewswire.com/news-releases/lincoln-international-announces-pricing-of-initial-public-offering-302776889.html), and by the next day’s NYSE debut...

Lincoln International's Clean IPO Masks a Tight Control Structure

Lincoln priced at $20 and traded up, but the structure deserves more attention

Fervo's IPO turned geothermal into an AI-power proxy

Fervo priced like a scale-power winner. The filing still reads like a buildout.

Micware’s Small Nasdaq IPO Carries a Bigger SDV Bet

Micware upsized its Nasdaq IPO, but the real question is what public investors are being asked to fund

Weekly IPO Review: Cerebras and Fervo reopened the window, but selectivity stayed brutal

Cerebras and Fervo reopened the IPO window. The rest of the calendar still had to fight for it.

Cerebras and Fervo did not just price in the week of May 11 through May 17. They reset the ceiling for what the 2026 IPO market will fund. Cerebras used a May 11 S-1/A to lift its range to $150 to $160 and expand the...

Pershing Square’s $5 Billion IPO Solved the Fundraise, Not the Discount

Ackman’s dual listing gave PSUS permanent capital and left public investors sorting out the structure

Avalanche Treasury Brings an AVAX Balance Sheet to the IPO Calendar

AVAT is testing whether public investors want a listed AVAX treasury

Einride’s Market Debut Is Taking Shape, but the Structure Still Does the Talking

Einride nears Nasdaq with a real freight story and a very SPAC capital stack

EagleRock Opens the IPO Window for Permian Surface Economics

EROK’s debut shows demand for Permian land cash flow, but the public float buys a minority seat

ReserveOne Nears Nasdaq With a $750 Million Crypto Financing Package and Very Little Operating History

ReserveOne pushes toward RONE with a big PIPE, a note stack, and an unusual control map

Selective Reopening: HawkEye and Odyssey Cleared, but Structure Still Did the Work

Weekly IPO Review: selective reopening, with HawkEye and Odyssey leading

Selective reopening, not a broad one The week looked better than it felt. HawkEye 360 jumped 30% in its NYSE debut after pricing 16 million shares at $26, the top of its range...

Cerebras Is Asking IPO Buyers to Finance an AI Capacity Buildout

Cerebras' IPO is becoming a live test of how far AI demand can finance infrastructure

Mobia Medical Finds the Limits of Medtech IPO Appetite

Mobia Medical priced a real commercial medtech IPO, then the market asked for more proof

Suja Life’s IPO Opens the Consumer Window, but Not on Easy Terms

Suja priced at the floor, refinanced debt, and still got a cold debut

Rare Earths Americas Prices the Scarcity Trade at Full Freight

REA sold an upsized IPO at the top of range, and the market is still paying up for the rare-earth optionality

Phoenix Energy's $750 Million Retail Note Bet

Phoenix Energy tests a self-distributed $750 million note sale

Odyssey’s IPO Return Comes With a Real Buyer and a Sharper Ask

Odyssey returns to market with TPG support and a cleaner biotech pitch

Fervo’s IPO Has Real Demand, but Cape Station Is the Real Test

Fervo launches with $350 million of named cornerstone interest, but its prospectus points Cape Station toward early 2027

GMR’s IPO Is Really a Debt-and-Control Story

KKR-backed GMR launches a $22-$25 IPO with a $350 million warrant sidecar

Biotech Took the Week. The Rest of the IPO Calendar Still Had Work to Do.

Biotech finally converted the pipeline into cash

The week of April 27 to May 3 finally turned IPO optimism into executed biotech paper. After X-Energy filed its final prospectus for a $1.02 billion IPO...

Silver Bow Upsized the Raise, but the Debut Still Asked Questions

Silver Bow Mining brought a bigger deal to market, then opened below issue

Hemab’s Upsized IPO Puts Rare-Bleeding Biotech in the Market’s Better Graces

Hemab prices bigger at the top, turning COAG into a real biotech demand test

HawkEye 360 Brings Real Defense-Tech Scale to the IPO Calendar

HawkEye 360's roadshow turns a space IPO into a defense-data test

Seaport’s IPO Arrives With More Book Shape Than Most Biotechs

Seaport lines up General Atlantic interest as SPTX tests the biotech window

X-Energy Turns Nuclear's AI Power Trade Into a Real IPO

X-Energy priced above range, raised $1.02 billion, and gave the nuclear IPO window real scale

Weekly IPO Review: X-Energy Prices, Pershing Tests the Tape

X-Energy priced and popped. Pershing still set the week's agenda.

X-Energy broke the week open by doing the one thing most of the calendar still has not done: price cleanly and trade well. The company priced 44,254,659 shares at $23, above the $16 to $19 range in its April 20 S-1/A,...

Elmet Prices a Scarce Domestic Industrial Story

Elmet’s upsized $120 million IPO gives the market a rare public bet on U.S. critical materials and microwave hardware

Pershing Square Brings Ackman's Permanent-Capital Pitch Back to the IPO Market

Pershing Square's paired IPO tests appetite for Ackman's permanent-capital platform

IPO Week: The Large-Cap Window Reopened, Selectively

IPO week: Madison Air, Arxis and Kailera reopen the size window

The week of April 13 gave the IPO market a real size test. Madison Air, Arxis, Kailera, AEVEX and Alamar all crossed from filing work into priced offerings, raising roughly $4.5 billion before overallotments. That is...

Yesway Puts a $300 Million Convenience-Store Roll-Up on Deck

Yesway brings a $300M retail IPO to Nasdaq

Alamar Puts a Real Bid Under the Life-Sciences IPO Window

Alamar's upsized IPO gets a public-market bid

Kailera's $625 Million IPO Tests Obesity Demand

Kailera's obesity IPO opens with a 60% signal

Arxis' IPO Clears the First Test for Defense-Industrial Listings

Arxis gives the IPO market a $1.13B defense-industrial test

AEVEX Tests IPO Demand for Defense Autonomy

AEVEX brings defense-drone backlog to the IPO market

Boost Run Tests the AI Compute Trade at the SPAC Gate

Boost Run's BRUN vote puts AI compute demand against SPAC mechanics

HMH Carries a Thin IPO Week Across the Line

HMH prices; Elmet and Churchill refill the IPO queue

HMH was the week’s only real handoff from filing work to public trading. The offshore drilling equipment supplier priced 10.52 million Class A shares at $20, inside its $19 to $22 range, raised $210.4 million in gross...