US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

Equity Capital Markets

Medline Industries is a medical supply company, manufacturer and distributor.

<ul>
<li>Medline delivered a blockbuster debut, surging over 40% from issue to close, marking the largest and strongest IPO performance of 2025.</li>
<li>An upsized, heavily oversubscribed offering and powerful aftermarket trading signal deep institutional conviction and durable demand.</li>
<li>The deal positions Medline as a flagship IPO and a momentum-setting springboard for investor confidence heading into 2026.</li>
</ul>


Medline delivered a blockbuster debut, surging over 40% from issue to close, marking the largest and strongest IPO performance of 2025.
An upsized, heavily oversubscribed offering and powerful aftermarket trading signal deep institutional conviction and durable demand.
The deal positions Medline as a flagship IPO and a momentum-setting springboard for investor confidence heading into 2026.


Medline Inc. (MDLN): Blockbuster Debut Caps 2025 With a Statement Win

Andersen Group Inc. provides professional services. The Company offers private and outsourced accounting, tax, valuation, and financial advisory services. Andersen Group serves individuals and family offices, businesses, and institutional clients in the United States.

<ul>
<li>Andersen is offering 11.0mm shares at $14–$16, with early channel checks indicating a multiple-times oversubscribed book ahead of its December 17 debut.</li>
<li>The firm has built a global advisory platform across tax, legal, and valuation services, delivering strong organic growth and meaningful margin expansion.</li>
<li>Valuation appears reasonable versus peers, though year-end timing and recent IPO volatility may temper initial trading enthusiasm.</li>
</ul>


Andersen is offering 11.0mm shares at $14–$16, with early channel checks indicating a multiple-times oversubscribed book ahead of its December 17 debut.
The firm has built a global advisory platform across tax, legal, and valuation services, delivering strong organic growth and meaningful margin expansion.
Valuation appears reasonable versus peers, though year-end timing and recent IPO volatility may temper initial trading enthusiasm.


Andersen Group Inc. (ANDG): Late-Year IPO Backed by Global Scale and Expanding Margins

<ul>
<li>Medline’s IPO is poised to be 2025’s largest, with a potential $5.4bn raise, positioning it as a key bridge deal into the 2026 IPO pipeline.</li>
<li>Strong anchor demand and an oversubscribed book highlight investor appetite for scaled, mature healthcare platforms with durable cash flows.`</li>
<li>Proceeds will materially reduce leverage, supporting a more balanced capital structure and reinforcing Medline’s long-term investment appeal.</li>
</ul>


Medline’s IPO is poised to be 2025’s largest, with a potential $5.4bn raise, positioning it as a key bridge deal into the 2026 IPO pipeline.
Strong anchor demand and an oversubscribed book highlight investor appetite for scaled, mature healthcare platforms with durable cash flows.`
Proceeds will materially reduce leverage, supporting a more balanced capital structure and reinforcing Medline’s long-term investment appeal.


Medline Inc. (MDLN): Largest Cash Raise IPO Since 2021's Rivian Brings End of Year Opportunity

Wealthfront Corporation / Equity Capital Markets

Wealthfront Corporation operates as a financial solutions company. The Company provides a digital financial solutions platform designed to offers cash management, investment advisory, borrowing and lending, and financial planning services. Wealthfront serves customers in the United States.

<ul>
<li>Wealthfront priced 34.6mm shares at $14.00, top of range, and opened flat before closing up 1.4% after a volatile first session.</li>
<li>The deal was reportedly double-digit times oversubscribed, with concentrated allocations and anchor support from BlackRock and Wellington.</li>
<li>Despite the muted debut, Wealthfront’s strong profitability and discounted valuation versus peers support potential aftermarket upside.</li>
</ul>


Wealthfront priced 34.6mm shares at $14.00, top of range, and opened flat before closing up 1.4% after a volatile first session.
The deal was reportedly double-digit times oversubscribed, with concentrated allocations and anchor support from BlackRock and Wellington.
Despite the muted debut, Wealthfront’s strong profitability and discounted valuation versus peers support potential aftermarket upside.


Wealthfront Corporation (WLTH): Financial Platform Falls Flat Despite Heavy Pre-IPO Interest

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

OpenAI, L.P. operates as a software company. The Company specializes in AI research and deployment that aims to ensure that artificial general intelligence benefits all of humanity. OpenAI serves customers worldwide.

<ul>
<li>In this insight, we provide a list of 70 prominent companies in the USA and Europe that could complete their IPOs in 2026.</li>
<li>Many companies that have been preparing their IPOs in 2024/2025 have postponed their IPO launches until next year for better timing.</li>
<li><em><strong>Some of the most prominent potential IPOs in the US/Europe that could get completed in 2026 include SpaceX, Stripe, OpenAI, Discord, Anthropic, Ripple, and Revolut.</strong></em></li>
</ul>


In this insight, we provide a list of 70 prominent companies in the USA and Europe that could complete their IPOs in 2026.
Many companies that have been preparing their IPOs in 2024/2025 have postponed their IPO launches until next year for better timing.
Some of the most prominent potential IPOs in the US/Europe that could get completed in 2026 include SpaceX, Stripe, OpenAI, Discord, Anthropic, Ripple, and Revolut.


US ECM
Coverage of US IPOs & Placements

Medline Inc. (MDLN): Blockbuster Debut Caps 2025 With a Statement Win

Medline's IPO soars over 40%, signaling strong institutional support and setting the stage for investor confidence in 2026.

IPO Boutique

Andersen Group Inc. (ANDG): Late-Year IPO Backed by Global Scale and Expanding Margins

Andersen to offer 11.0mm shares at $14-$16, strong growth in global advisory services, reasonable valuation but IPO timing and volatility may...

IPO Boutique

Medline Inc. (MDLN): Largest Cash Raise IPO Since 2021's Rivian Brings End of Year Opportunity

Medline's upcoming IPO is set to be the largest of 2025, raising up to $5.4bn. Medline is a mature healthcare platforms with stable cash flows,...

IPO Boutique

Wealthfront Corporation (WLTH): Financial Platform Falls Flat Despite Heavy Pre-IPO Interest

Wealthfront's IPO priced at top of range, opened flat before closing up 1.4% with strong anchor support, potential for upside due to profitability...

IPO Boutique

2026 IPOs Pipeline (USA and Europe)

We provide a list of 70 prominent companies in the USA and Europe that could complete their IPOs in 2026 including SpaceX, Stripe, OpenAI, Discord,...

Douglas Kim

Medline Inc. (MDLN): Blockbuster Debut Caps 2025 With a Statement Win

​Medline's IPO soars over 40%, signaling strong institutional support and setting the stage for investor confidence in 2026.

IPO Boutique

Andersen Group Inc. (ANDG): Late-Year IPO Backed by Global Scale and Expanding Margins

​Andersen to offer 11.0mm shares at $14-$16, strong growth in global advisory services, reasonable valuation but IPO timing and volatility may...

IPO Boutique

Medline Inc. (MDLN): Largest Cash Raise IPO Since 2021's Rivian Brings End of Year Opportunity

​Medline's upcoming IPO is set to be the largest of 2025, raising up to $5.4bn. Medline is a mature healthcare platforms with stable cash flows,...

IPO Boutique

Wealthfront Corporation (WLTH): Financial Platform Falls Flat Despite Heavy Pre-IPO Interest

​Wealthfront's IPO priced at top of range, opened flat before closing up 1.4% with strong anchor support, potential for upside due to profitability...

IPO Boutique

2026 IPOs Pipeline (USA and Europe)

We provide a list of 70 prominent companies in the USA and Europe that could complete their IPOs in 2026 including SpaceX, Stripe, OpenAI, Discord,...

Douglas Kim

Medline's IPO soars over 40%, signaling strong institutional support and setting the stage for investor confidence in 2026.

Andersen to offer 11.0mm shares at $14-$16, strong growth in global advisory services, reasonable valuation but IPO timing and volatility may...

Medline's upcoming IPO is set to be the largest of 2025, raising up to $5.4bn. Medline is a mature healthcare platforms with stable cash flows,...

Wealthfront's IPO priced at top of range, opened flat before closing up 1.4% with strong anchor support, potential for upside due to profitability...