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

Grayscale Investments / Equity Capital Markets

<ul>
<li>Grayscale positions for a 2025 IPO as the largest U.S. digital-asset investment platform with $35 billion AUM and broad institutional-grade product coverage.</li>
<li>The firm targets a $4 trillion digital-asset market, leveraging diversified ETPs and strong investor adoption to expand regulated access and long-term growth potential.</li>
<li>Despite sector volatility, Grayscale aims to capitalize on rising institutional demand, product innovation, and its scale advantages to drive future public-market performance.</li>
</ul>


Grayscale positions for a 2025 IPO as the largest U.S. digital-asset investment platform with $35 billion AUM and broad institutional-grade product coverage.
The firm targets a $4 trillion digital-asset market, leveraging diversified ETPs and strong investor adoption to expand regulated access and long-term growth potential.
Despite sector volatility, Grayscale aims to capitalize on rising institutional demand, product innovation, and its scale advantages to drive future public-market performance.


Grayscale Investments (GRAY): Peeking at the IPO Prospectus of a Digital Asset Focused Platform

StubHub Holdings / Equity Capital Markets

<ul>
<li>The company priced a full-size offering of 34.04 million shares at $23.50, the midpoint of the $22–$25 range, raising more than $750 million.</li>
<li>Shares opened at $25.35, a 7.8% premium to the issue price, but that initial pop quickly evaporated. The stock closed its opening session at $22.00.</li>
<li>Over the next 30 days, we expect investors to remain cautious, with many likely trimming exposure until upcoming quarterly results offer greater clarity.</li>
</ul>


The company priced a full-size offering of 34.04 million shares at $23.50, the midpoint of the $22–$25 range, raising more than $750 million.
Shares opened at $25.35, a 7.8% premium to the issue price, but that initial pop quickly evaporated. The stock closed its opening session at $22.00.
Over the next 30 days, we expect investors to remain cautious, with many likely trimming exposure until upcoming quarterly results offer greater clarity.


StubHub Holdings (STUB): Strong Open, Quick Retreat as Debt and Flipping Pressure Loom

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Gemini Space Station (GEMI US)

Grayscale Investments (GRAY): Peeking at the IPO Prospectus of a Digital Asset Focused Platform

Grayscale plans for 2025 IPO as top U.S. digital-asset investment platform, targeting $4 trillion market with diversified ETPs and institutional...

IPO Boutique

StubHub Holdings (STUB): Strong Open, Quick Retreat as Debt and Flipping Pressure Loom

Company raises over $750 million in IPO, but stock price quickly drops after initial pop, leaving investors cautious for next 30 days.

IPO Boutique

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Grayscale Investments (GRAY): Peeking at the IPO Prospectus of a Digital Asset Focused Platform

​Grayscale plans for 2025 IPO as top U.S. digital-asset investment platform, targeting $4 trillion market with diversified ETPs and institutional...

IPO Boutique

StubHub Holdings (STUB): Strong Open, Quick Retreat as Debt and Flipping Pressure Loom

​Company raises over $750 million in IPO, but stock price quickly drops after initial pop, leaving investors cautious for next 30 days.

IPO Boutique

Grayscale plans for 2025 IPO as top U.S. digital-asset investment platform, targeting $4 trillion market with diversified ETPs and institutional...

Company raises over $750 million in IPO, but stock price quickly drops after initial pop, leaving investors cautious for next 30 days.