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>Exzeo priced mid-range at $21.00 and traded flat, signaling a disciplined and stable market entrance.</li>
<li>Profitable, zero-debt insurtech spin-off from HCI boasting 50%+ EBITDA margins and $195M ARR.</li>
<li>Expanding beyond 13 states into major markets; poised for sustainable, high-margin growth under proven leadership.</li>
</ul>


Exzeo priced mid-range at $21.00 and traded flat, signaling a disciplined and stable market entrance.
Profitable, zero-debt insurtech spin-off from HCI boasting 50%+ EBITDA margins and $195M ARR.
Expanding beyond 13 states into major markets; poised for sustainable, high-margin growth under proven leadership.


Exzeo Group Inc. (XZO): IPO Opens Flat for the HCI Spin-Off Insurtech

American Integrity Insurance Group / Equity Capital Markets

<ul>
<li>Specialty insurer American Integrity Insurance Group (AII US) came to market Thursday with solid interest from sector-dedicated investors producing a 15.6% winner at first trade.</li>
<li>According to our sources, the deal was well-oversubscribed which equates to roughly 5x-6x in terms of granular subscription levels.</li>
<li>Given the choppiness of the broad market in April and the temporary pause in the IPO market, the insurance sector was the perfect area to lead the comeback.</li>
</ul>


Specialty insurer American Integrity Insurance Group (AII US) came to market Thursday with solid interest from sector-dedicated investors producing a 15.6% winner at first trade.
According to our sources, the deal was well-oversubscribed which equates to roughly 5x-6x in terms of granular subscription levels.
Given the choppiness of the broad market in April and the temporary pause in the IPO market, the insurance sector was the perfect area to lead the comeback.


American Integrity Insurance Group (AII): Sector Dedicated Buyers Get a Winner on Opening Pop

<ul>
<li>According to our sources,  the deal is oversubscribed with a good amount of accounts still to hear from.</li>
<li>Management has strong numbers as of year-end 2024 and have gained even more momentum in Q1 2025. </li>
<li>While smaller in size, this company has a sustainable expansion plan and a profitable balance sheet with a tailwind from a growing Florida market.</li>
</ul>


According to our sources,  the deal is oversubscribed with a good amount of accounts still to hear from.
Management has strong numbers as of year-end 2024 and have gained even more momentum in Q1 2025. 
While smaller in size, this company has a sustainable expansion plan and a profitable balance sheet with a tailwind from a growing Florida market.


American Integrity Insurance Group (AII): Specialty Insurer Eyes IPO, Winner in Florida

United States

HCI Group, Inc. offers property/casualty insurance.  The Company offers homeowners', condominium owners', and tenants' insurance.

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Hci Group Inc (HCI US)

Exzeo Group Inc. (XZO): IPO Opens Flat for the HCI Spin-Off Insurtech

Exzeo, a profitable insurtech spin-off from HCI, enters the market with disciplined pricing and stable trading, poised for sustainable growth in...

IPO Boutique

American Integrity Insurance Group (AII): Sector Dedicated Buyers Get a Winner on Opening Pop

Specialty insurer American Integrity Insurance Group had a successful IPO debut, with strong interest from investors in the insurance sector...

IPO Boutique

American Integrity Insurance Group (AII): Specialty Insurer Eyes IPO, Winner in Florida

The company's oversubscribed deal and strong financial performance indicate sustainable growth and profitability in a growing market.

IPO Boutique

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Exzeo Group Inc. (XZO): IPO Opens Flat for the HCI Spin-Off Insurtech

​Exzeo, a profitable insurtech spin-off from HCI, enters the market with disciplined pricing and stable trading, poised for sustainable growth in...

IPO Boutique

American Integrity Insurance Group (AII): Sector Dedicated Buyers Get a Winner on Opening Pop

​Specialty insurer American Integrity Insurance Group had a successful IPO debut, with strong interest from investors in the insurance sector...

IPO Boutique

American Integrity Insurance Group (AII): Specialty Insurer Eyes IPO, Winner in Florida

​The company's oversubscribed deal and strong financial performance indicate sustainable growth and profitability in a growing market.

IPO Boutique

Exzeo, a profitable insurtech spin-off from HCI, enters the market with disciplined pricing and stable trading, poised for sustainable growth in...

Specialty insurer American Integrity Insurance Group had a successful IPO debut, with strong interest from investors in the insurance sector...

The company's oversubscribed deal and strong financial performance indicate sustainable growth and profitability in a growing market.