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

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Kestra Medical Technologies / Equity Capital Markets

<ul>
<li>Kestra Medical Technologies priced 11.9mm shares (upsized from 10.0mm) at $17.00 ($1 Above the $14-$16 range) and opened at $22.95 for a gain of 35%.</li>
<li>Kestra Medical Technologies (KMTS US) is the second medical device company to go public with success in 2025.</li>
<li>The equity capital markets area is still under scrutiny as a whole following the lackluster debuts of the two large IPOs in 2025.</li>
</ul>


Kestra Medical Technologies priced 11.9mm shares (upsized from 10.0mm) at $17.00 ($1 Above the $14-$16 range) and opened at $22.95 for a gain of 35%.
Kestra Medical Technologies (KMTS US) is the second medical device company to go public with success in 2025.
The equity capital markets area is still under scrutiny as a whole following the lackluster debuts of the two large IPOs in 2025.


Kestra Medical Technologies (KMTS): IPO Pops 35% at Open, Holds Gains Amidst Volatile Backdrop

<ul>
<li>They are a commercial-stage, wearable medical device and digital healthcare company focused on transforming patient outcomes in cardiovascular disease.</li>
<li>As of January 31, 2025, the ASSURE WCD is actively being prescribed by more than 550 hospitals and has been worn by over 17,000 patients.</li>
<li>We anticipate this company to set terms (share size, price range) and debut in the last week of February or the first week of March. </li>
</ul>


They are a commercial-stage, wearable medical device and digital healthcare company focused on transforming patient outcomes in cardiovascular disease.
As of January 31, 2025, the ASSURE WCD is actively being prescribed by more than 550 hospitals and has been worn by over 17,000 patients.
We anticipate this company to set terms (share size, price range) and debut in the last week of February or the first week of March. 


Kestra Medical Technologies, Ltd (KMTS): Peeking at the Prospectus of the Next Medical Device IPO

<ul>
<li>The stock opened 29.4% above its issue price at $22.00 and closed its debut session at $23.63, delivering a first-day gain of 39.0%.</li>
<li>This was a major victory for the IPO market, marking the highest first-day percentage gain of the year.</li>
<li>Looking ahead, the IPO market's next test will be from the biotech sector.</li>
</ul>


The stock opened 29.4% above its issue price at $22.00 and closed its debut session at $23.63, delivering a first-day gain of 39.0%.
This was a major victory for the IPO market, marking the highest first-day percentage gain of the year.
Looking ahead, the IPO market's next test will be from the biotech sector.


Beta Bionic Inc (BBNX): IPO Pops, Trades Strong on Opening Day

<ul>
<li>The underwriters amended the terms of this offering with a S-1/A on Tuesday morning.</li>
<li>With the updated terms, the company could raise as much as $170 million at the high-end of the new range. </li>
<li>We have updated our first day forecast given the bullish momentum during the roadshow. </li>
</ul>


The underwriters amended the terms of this offering with a S-1/A on Tuesday morning.
With the updated terms, the company could raise as much as $170 million at the high-end of the new range. 
We have updated our first day forecast given the bullish momentum during the roadshow. 


Beta Bionic Inc (BBNX): Bullish IPO Roadshow Moves Underwriters to Amend Offering Size and Range

<ul>
<li>The company has jumped from just eight sales territories in Q2 2023 to 43 sales to end 2024 with more than 15,000 units installed.</li>
<li>An existing shareholder is on the cover of the prospectus with a concurrent private placement</li>
<li>Medical Device IPOs have a strong history of success as many are poised for growth</li>
</ul>


The company has jumped from just eight sales territories in Q2 2023 to 43 sales to end 2024 with more than 15,000 units installed.
An existing shareholder is on the cover of the prospectus with a concurrent private placement
Medical Device IPOs have a strong history of success as many are poised for growth


Beta Bionic, Inc. (BBNX): IPO Is An "Execution Story" And in Growth Mode

United States

Beta Bionics, Inc. is a commercial-stage medical device company. The Company offers an automated insulin delivery system with closed-loop algorithms for the treatment of people with diabetes. Beta Bionics operates in the United States.

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Beta Bionics (BBNX US)

Kestra Medical Technologies (KMTS): IPO Pops 35% at Open, Holds Gains Amidst Volatile Backdrop

Kestra Medical Technologies IPO prices above range, gains 35% on debut, second successful medical device company to go public in 2025.

IPO Boutique

Kestra Medical Technologies, Ltd (KMTS): Peeking at the Prospectus of the Next Medical Device IPO

A wearable medical device company focused on improving cardiovascular patient outcomes is set to go public after gaining traction in hospitals and...

IPO Boutique

Beta Bionic Inc (BBNX): IPO Pops, Trades Strong on Opening Day

Stock debuts with a 39% gain, marking highest first-day percentage increase of the year, setting the stage for biotech sector's upcoming IPOs.

IPO Boutique

Beta Bionic Inc (BBNX): Bullish IPO Roadshow Moves Underwriters to Amend Offering Size and Range

Underwriters amend offering terms, company could raise up to $170 million, first day forecast updated due to bullish momentum during roadshow.

IPO Boutique

Beta Bionic, Inc. (BBNX): IPO Is An "Execution Story" And in Growth Mode

Company rapidly expands sales territories, installs 15,000 units by end of 2024; shareholder featured in prospectus with private placement;...

IPO Boutique

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Kestra Medical Technologies (KMTS): IPO Pops 35% at Open, Holds Gains Amidst Volatile Backdrop

​Kestra Medical Technologies IPO prices above range, gains 35% on debut, second successful medical device company to go public in 2025.

IPO Boutique

Kestra Medical Technologies, Ltd (KMTS): Peeking at the Prospectus of the Next Medical Device IPO

​A wearable medical device company focused on improving cardiovascular patient outcomes is set to go public after gaining traction in hospitals and...

IPO Boutique

Beta Bionic Inc (BBNX): IPO Pops, Trades Strong on Opening Day

​Stock debuts with a 39% gain, marking highest first-day percentage increase of the year, setting the stage for biotech sector's upcoming IPOs.

IPO Boutique

Beta Bionic Inc (BBNX): Bullish IPO Roadshow Moves Underwriters to Amend Offering Size and Range

​Underwriters amend offering terms, company could raise up to $170 million, first day forecast updated due to bullish momentum during roadshow.

IPO Boutique

Beta Bionic, Inc. (BBNX): IPO Is An "Execution Story" And in Growth Mode

​Company rapidly expands sales territories, installs 15,000 units by end of 2024; shareholder featured in prospectus with private placement;...

IPO Boutique

Kestra Medical Technologies IPO prices above range, gains 35% on debut, second successful medical device company to go public in 2025.

A wearable medical device company focused on improving cardiovascular patient outcomes is set to go public after gaining traction in hospitals and...

Stock debuts with a 39% gain, marking highest first-day percentage increase of the year, setting the stage for biotech sector's upcoming IPOs.

Underwriters amend offering terms, company could raise up to $170 million, first day forecast updated due to bullish momentum during roadshow.

Company rapidly expands sales territories, installs 15,000 units by end of 2024; shareholder featured in prospectus with private placement;...