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

Cardinal Infrastructure / Equity Capital Markets

<ul>
<li>Cardinal Infrastructure sets terms for its IPO and could raise up to $253 million if priced at the high end of the range. </li>
<li>Cardinal Infrastructure offers full-service, in-house wet utility and site work solutions in fast-growing Southeastern markets, benefiting from strong demand, population growth, and reduced outsourcing needs.</li>
<li>A proven acquisition-led expansion strategy, deep customer relationships, and high repeat revenue underpin robust growth, a strong backlog, and successful market penetration in new geographies.</li>
</ul>


Cardinal Infrastructure sets terms for its IPO and could raise up to $253 million if priced at the high end of the range. 
Cardinal Infrastructure offers full-service, in-house wet utility and site work solutions in fast-growing Southeastern markets, benefiting from strong demand, population growth, and reduced outsourcing needs.
A proven acquisition-led expansion strategy, deep customer relationships, and high repeat revenue underpin robust growth, a strong backlog, and successful market penetration in new geographies.


Cardinal Infrastructure Group Inc. (CDNL): Infrastructure Play Sets Terms for IPO

<ul>
<li>Cardinal Infrastructure Group Inc. is an infrastructure investment company focused on acquiring, owning and operating core infrastructure assets across sectors such as transportation, energy, utilities and data-centers.</li>
<li>Their revenue was $153.9 million and $187.9 million and their net income was $16.7 million and $16.1 million in the first half of 2024 and 2025, respectively.</li>
<li>Today, they primarily operate in North Carolina, specifically the greater Charlotte, Raleigh, and Greensboro areas of North Carolina.</li>
</ul>


Cardinal Infrastructure Group Inc. is an infrastructure investment company focused on acquiring, owning and operating core infrastructure assets across sectors such as transportation, energy, utilities and data-centers.
Their revenue was $153.9 million and $187.9 million and their net income was $16.7 million and $16.1 million in the first half of 2024 and 2025, respectively.
Today, they primarily operate in North Carolina, specifically the greater Charlotte, Raleigh, and Greensboro areas of North Carolina.


Cardinal Infrastructure Group Inc. (CDNL): Peeking at the IPO Prospectus of a Utility Developer

United States

Cardinal Infrastructure LLC operates as an infrastructure consulting company. The Company offers federal regulatory processes, issues and risk management, innovative contracting solutions, and relationship management services. Cardinal Infrastructure serves clients in the United States.

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Cardinal Infrastructure (CDNL US)

Cardinal Infrastructure Group Inc. (CDNL): Infrastructure Play Sets Terms for IPO

Cardinal Infrastructure plans IPO, aiming to raise $253 million with strong growth potential in Southeastern markets through full-service wet...

IPO Boutique

Cardinal Infrastructure Group Inc. (CDNL): Peeking at the IPO Prospectus of a Utility Developer

Cardinal Infrastructure Group Inc. acquires and operates core infrastructure assets, with revenue and net income figures for the first half of...

IPO Boutique

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Cardinal Infrastructure Group Inc. (CDNL): Infrastructure Play Sets Terms for IPO

​Cardinal Infrastructure plans IPO, aiming to raise $253 million with strong growth potential in Southeastern markets through full-service wet...

IPO Boutique

Cardinal Infrastructure Group Inc. (CDNL): Peeking at the IPO Prospectus of a Utility Developer

​Cardinal Infrastructure Group Inc. acquires and operates core infrastructure assets, with revenue and net income figures for the first half of...

IPO Boutique

Cardinal Infrastructure plans IPO, aiming to raise $253 million with strong growth potential in Southeastern markets through full-service wet...

Cardinal Infrastructure Group Inc. acquires and operates core infrastructure assets, with revenue and net income figures for the first half of...