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

<ul>
<li>SpaceX IPO is fully fixed at $135/share, removing price-range signaling and forcing investors to focus directly on scale, demand, and valuation discipline.</li>
<li>Channel checks suggest ~2–3x oversubscription reflecting more measured bidding given the deal’s unprecedented $75B+ size.</li>
<li>Tight ~4–5% free float, expanded retail allocation, and Elon Musk’s 366-day lock-up create a structurally constrained supply setup with heightened post-IPO volatility risk.</li>
</ul>


SpaceX IPO is fully fixed at $135/share, removing price-range signaling and forcing investors to focus directly on scale, demand, and valuation discipline.
Channel checks suggest ~2–3x oversubscription reflecting more measured bidding given the deal’s unprecedented $75B+ size.
Tight ~4–5% free float, expanded retail allocation, and Elon Musk’s 366-day lock-up create a structurally constrained supply setup with heightened post-IPO volatility risk.


SpaceX (SPCX US): Demand Picks Up as Investors Place Disciplined Bets on Musk's Mega IPO

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>SpaceX now plans to list on the NASDAQ on 12 June. The company is expected to raise $80 billion or more in this capital raise (largest ever in the world).</li>
<li>After SpaceX, the two other mega IPOs that are expected to be completed in 2H 2026 include Anthropic and OpenAI. </li>
<li>Although SpaceX's valuation has not been finalized, it is expected that the SpaceX IPO could fetch about $1.75 trillion to $2.0 trillion, representing P/S (not P/E) of nearly 100x. </li>
</ul>


SpaceX now plans to list on the NASDAQ on 12 June. The company is expected to raise $80 billion or more in this capital raise (largest ever in the world).
After SpaceX, the two other mega IPOs that are expected to be completed in 2H 2026 include Anthropic and OpenAI. 
Although SpaceX's valuation has not been finalized, it is expected that the SpaceX IPO could fetch about $1.75 trillion to $2.0 trillion, representing P/S (not P/E) of nearly 100x. 


Get Ahead with IPO Insights, IPO Prophet

IPO Prophet

Get Ahead with IPO Insights

At IPO Prophet®, our team leverages over three decades of expertise to deliver actionable quantitative analytics for the IPO market in real-time. This platform synthesizes our extensive experience investing in IPOs, providing investors with revolutionary tools to navigate the complexities of issuance day. Our mission is to empower investors with data-driven insights to make more informed decisions.

Fervo Energy Company / Equity Capital Markets

<ul><li>Fervo Energy Co. (NASDAQ: FRVO) and GMR Solutions Inc. (NYSE: GMRS) delivered two very different day-one trading stories on Wednesday, highlighting the continued importance of deal quality, institutional demand, and market positioning in the current IPO environment.</li><li>Fervo Energy emerged as the clear standout of the session after pricing its heavily anticipated IPO above the marketed range at $27.00 per share, versus initial terms of $24.00 to $26.00.</li><li>Demand for the geothermal infrastructure and energy technology company was exceptionally strong heading into pricing, with institutional enthusiasm building around the broader power and AI infrastructure theme that continues to dominate investor attention.</li></ul>

Fervo Energy Co. (NASDAQ: FRVO) and GMR Solutions Inc. (NYSE: GMRS) delivered two very different day-one trading stories on Wednesday, highlighting the continued importance of deal quality, institutional demand, and market positioning in the current IPO environment.Fervo Energy emerged as the clear standout of the session after pricing its heavily anticipated IPO above the marketed range at $27.00 per share, versus initial terms of $24.00 to $26.00.Demand for the geothermal infrastructure and energy technology company was exceptionally strong heading into pricing, with institutional enthusiasm building around the broader power and AI infrastructure theme that continues to dominate investor attention.

IPO End of Day — May 13, 2026: Diverging Demand Profiles as FRVO Rallies and GMRS Lags

Odyssey Therapeutics / Equity Capital Markets

<ul><li>Odyssey Therapeutics (ODTX) and Mobia Medical (MOBI) both struggled to generate meaningful Day-One momentum Friday, with neither deal producing a Bull signal despite very different opening setups.</li><li>Odyssey opened at a premium to its $18 IPO price, trading as high as $20.30 shortly after the open, but the move lacked the type of sustained institutional follow through typically associated with stronger IPO debuts.</li><li>IPO Prophet’s posture on ODTX was initially neutral during the opening trade before sentiment shifted bearish early in the session as momentum deteriorated and shares steadily faded throughout the afternoon, ultimately closing at $16.42.</li></ul>

Odyssey Therapeutics (ODTX) and Mobia Medical (MOBI) both struggled to generate meaningful Day-One momentum Friday, with neither deal producing a Bull signal despite very different opening setups.Odyssey opened at a premium to its $18 IPO price, trading as high as $20.30 shortly after the open, but the move lacked the type of sustained institutional follow through typically associated with stronger IPO debuts.IPO Prophet’s posture on ODTX was initially neutral during the opening trade before sentiment shifted bearish early in the session as momentum deteriorated and shares steadily faded throughout the afternoon, ultimately closing at $16.42.

IPO Market Sees Weak Day-One Follow Through as Odyssey Fades and Mobia Opens Under Pressure

<ul><li>The IPO market remained active Thursday with two new deals hitting the tape, producing very different trading profiles throughout the session.</li><li>HawkEye 360 (NYSE: HAWK) , the space-based signals intelligence company, delivered a constructive and stable debut that aligned closely with IPO Prophet’s quantitative framework, while Suja Life (NASDAQ: SUJA) failed to establish upside momentum during its first day of trading.</li><li>HawkEye 360 priced its IPO at $26 and opened at $33.80, immediately triggering a Bull Signal at the open.</li></ul>

The IPO market remained active Thursday with two new deals hitting the tape, producing very different trading profiles throughout the session.HawkEye 360 (NYSE: HAWK) , the space-based signals intelligence company, delivered a constructive and stable debut that aligned closely with IPO Prophet’s quantitative framework, while Suja Life (NASDAQ: SUJA) failed to establish upside momentum during its first day of trading.HawkEye 360 priced its IPO at $26 and opened at $33.80, immediately triggering a Bull Signal at the open.

IPO Market Remains Constructive as HawkEye 360 Holds Gains While Suja Life Opens Below Issue Price

United States

Cerebras Systems Inc. is an artificial intelligence infrastructure company. The Company designs and manufactures an AI compute platform comprised of proprietary systems and software that is delivered in standard racks for deployment in data centers up to supercomputer scale. Cerebras Systems serves customers in the United States.

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Cerebras Systems (CBRS US)

SpaceX (SPCX US): Demand Picks Up as Investors Place Disciplined Bets on Musk's Mega IPO

SpaceX IPO at $135/share removes price-range signaling, investors focus on scale, demand, and valuation discipline. Oversubscription, tight free...

IPO Boutique

Initial Thoughts on the SpaceX IPO

SpaceX now plans to list on the NASDAQ on 12 June. The company is expected to raise $80 billion or more in this capital raise (largest ever in the...

Douglas Kim

IPO End of Day — May 13, 2026: Diverging Demand Profiles as FRVO Rallies and GMRS Lags

Fervo Energy Co. (NASDAQ: FRVO) and GMR Solutions Inc. (NYSE: GMRS) delivered two very different day-one trading stories on Wednesday,...

IPO Prophet

IPO Market Sees Weak Day-One Follow Through as Odyssey Fades and Mobia Opens Under Pressure

Odyssey Therapeutics (ODTX) and Mobia Medical (MOBI) both struggled to generate meaningful Day-One momentum Friday, with neither deal producing a...

IPO Prophet

IPO Market Remains Constructive as HawkEye 360 Holds Gains While Suja Life Opens Below Issue Price

The IPO market remained active Thursday with two new deals hitting the tape, producing very different trading profiles throughout the...

IPO Prophet

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SpaceX (SPCX US): Demand Picks Up as Investors Place Disciplined Bets on Musk's Mega IPO

​SpaceX IPO at $135/share removes price-range signaling, investors focus on scale, demand, and valuation discipline. Oversubscription, tight free...

IPO Boutique

Initial Thoughts on the SpaceX IPO

SpaceX now plans to list on the NASDAQ on 12 June. The company is expected to raise $80 billion or more in this capital raise (largest ever in the...

Douglas Kim

IPO End of Day — May 13, 2026: Diverging Demand Profiles as FRVO Rallies and GMRS Lags

Fervo Energy Co. (NASDAQ: FRVO) and GMR Solutions Inc. (NYSE: GMRS) delivered two very different day-one trading stories on Wednesday,...

IPO Prophet

IPO Market Sees Weak Day-One Follow Through as Odyssey Fades and Mobia Opens Under Pressure

Odyssey Therapeutics (ODTX) and Mobia Medical (MOBI) both struggled to generate meaningful Day-One momentum Friday, with neither deal producing a...

IPO Prophet

IPO Market Remains Constructive as HawkEye 360 Holds Gains While Suja Life Opens Below Issue Price

The IPO market remained active Thursday with two new deals hitting the tape, producing very different trading profiles throughout the...

IPO Prophet

SpaceX IPO at $135/share removes price-range signaling, investors focus on scale, demand, and valuation discipline. Oversubscription, tight free...