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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Infinity Natural Resources / Equity Capital Markets

<ul>
<li>Throughout the week, Infinity Natural Resources had to manage the Venture Global (VG) headwind -- a previously broken IPO from the energy sector. </li>
<li>While there was pushback on valuation with some buyside investors, Infinity Natural Resources was able to successfully convey their story.</li>
<li>There has now been three energy IPOs in 2025 with two winners.</li>
</ul>


Throughout the week, Infinity Natural Resources had to manage the Venture Global (VG) headwind -- a previously broken IPO from the energy sector. 
While there was pushback on valuation with some buyside investors, Infinity Natural Resources was able to successfully convey their story.
There has now been three energy IPOs in 2025 with two winners.


Infinity Natural Resources (INR): Buyers Step In Marking Second Winning Energy IPO

<ul>
<li>While this company is well-positioned in its sector and has a prudent growth strategy and balance-sheet flexibility, the short term "sector winds" are now blowing in a different direction.</li>
<li>Venture Global (VG) debuted last Friday with a major price cut and a more disappointing debut. </li>
<li>Our sources state that the official message regarding the deal is that the offering is multiple-times oversubscribed from long-only and energy-dedicated funds. </li>
</ul>


While this company is well-positioned in its sector and has a prudent growth strategy and balance-sheet flexibility, the short term "sector winds" are now blowing in a different direction.
Venture Global (VG) debuted last Friday with a major price cut and a more disappointing debut. 
Our sources state that the official message regarding the deal is that the offering is multiple-times oversubscribed from long-only and energy-dedicated funds. 


Infinity Natural Resources (INR): Sector Sentiment Sours, Exercise Caution on IPO

<ul>
<li>With an unlevered balance sheet, Infinity Natural Resources is set to for both organic and M&amp;A growth post-IPO.</li>
<li>The company is coming public at a discount to peers Diversified Energy, Gulfport Energy and Magnolia Oil &amp; Gas.</li>
<li>Early channel check of this offering revealed that the deal is oversubscribed with a high-quality schedule across different regions. </li>
</ul>


With an unlevered balance sheet, Infinity Natural Resources is set to for both organic and M&amp;A growth post-IPO.
The company is coming public at a discount to peers Diversified Energy, Gulfport Energy and Magnolia Oil &amp; Gas.
Early channel check of this offering revealed that the deal is oversubscribed with a high-quality schedule across different regions. 


Infinity Natural Resources (INR): Lean & Unlevered IPO Is Next Intriguing Energy Play

<ul>
<li>Oil &amp; Natural Gas company focusing on the Appalachian Basin sets terms for its IPO</li>
<li>The company is offering 13.25mm shares at a range of $18.00-$21.00 and will debut on Friday, January 31</li>
<li>Total oil, natural gas and NGL net revenues for the nine months ended September 30, 2024 increased by $100.6 million, or 114%</li>
</ul>


Oil &amp; Natural Gas company focusing on the Appalachian Basin sets terms for its IPO
The company is offering 13.25mm shares at a range of $18.00-$21.00 and will debut on Friday, January 31
Total oil, natural gas and NGL net revenues for the nine months ended September 30, 2024 increased by $100.6 million, or 114%


Infinity Natural Resources (INR): Peeking at the Prospectus of Next Oil & Natural Gas Assets IPO

<ul>
<li>Drilling equipment and service provider updated the terms for its IPO in late January. </li>
<li>They had total revenue of $577.2 million and $614.8 million and net income of $10.2 million and $44.9 million in the first three quarters of 2023 and 2024, respectively.</li>
<li>The Houston based company would be following three previous energy IPOs: Flowco Holdings (FLOC US) , Venture Global LNG (VG US) and Infinity Natural Resources (INR US)</li>
</ul>


Drilling equipment and service provider updated the terms for its IPO in late January. 
They had total revenue of $577.2 million and $614.8 million and net income of $10.2 million and $44.9 million in the first three quarters of 2023 and 2024, respectively.
The Houston based company would be following three previous energy IPOs: Flowco Holdings (FLOC US) , Venture Global LNG (VG US) and Infinity Natural Resources (INR US)


HMH Holding Inc. (HMHW): Drilling and Service Provider on Deck for IPO in Near Future

United States

Infinity Natural Resources, Inc. is an energy company. The Company focuses on the acquisition, development, and production of hydrocarbons in the Appalachian Basin. Infinity Natural Resources operates in the United States.

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Infinity Natural Resources (INR US)

Infinity Natural Resources (INR): Buyers Step In Marking Second Winning Energy IPO

Infinity Natural Resources successfully navigated the challenges of the Venture Global headwind in the energy sector, ultimately conveying their...

IPO Boutique

Infinity Natural Resources (INR): Sector Sentiment Sours, Exercise Caution on IPO

Infinity Natural Resource's IPO faces challenges as sector trends shift following the underperformance of a major IPO in the sector.

IPO Boutique

Infinity Natural Resources (INR): Lean & Unlevered IPO Is Next Intriguing Energy Play

Infinity Natural Resources poised for growth post-IPO with unlevered balance sheet, coming public at discount to peers and showing strong demand...

IPO Boutique

Infinity Natural Resources (INR): Peeking at the Prospectus of Next Oil & Natural Gas Assets IPO

Appalachian Basin oil & gas company sets IPO terms, offering 13.25mm shares at $18.00-$21.00 and will debut on January 31.

IPO Boutique

HMH Holding Inc. (HMHW): Drilling and Service Provider on Deck for IPO in Near Future

Drilling equipment provider updates paperwork with the SEC show. HMH Holding could potentially be the fourth energy IPO of the year.

IPO Boutique

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Infinity Natural Resources (INR): Buyers Step In Marking Second Winning Energy IPO

​Infinity Natural Resources successfully navigated the challenges of the Venture Global headwind in the energy sector, ultimately conveying their...

IPO Boutique

Infinity Natural Resources (INR): Sector Sentiment Sours, Exercise Caution on IPO

Infinity Natural Resource's IPO faces challenges as sector trends shift following the underperformance of a major IPO in the sector.

IPO Boutique

Infinity Natural Resources (INR): Lean & Unlevered IPO Is Next Intriguing Energy Play

​Infinity Natural Resources poised for growth post-IPO with unlevered balance sheet, coming public at discount to peers and showing strong demand...

IPO Boutique

Infinity Natural Resources (INR): Peeking at the Prospectus of Next Oil & Natural Gas Assets IPO

​Appalachian Basin oil & gas company sets IPO terms, offering 13.25mm shares at $18.00-$21.00 and will debut on January 31.

IPO Boutique

HMH Holding Inc. (HMHW): Drilling and Service Provider on Deck for IPO in Near Future

​Drilling equipment provider updates paperwork with the SEC show. HMH Holding could potentially be the fourth energy IPO of the year.

IPO Boutique

Infinity Natural Resources successfully navigated the challenges of the Venture Global headwind in the energy sector, ultimately conveying their...

Infinity Natural Resources poised for growth post-IPO with unlevered balance sheet, coming public at discount to peers and showing strong demand...

Appalachian Basin oil & gas company sets IPO terms, offering 13.25mm shares at $18.00-$21.00 and will debut on January 31.

Drilling equipment provider updates paperwork with the SEC show. HMH Holding could potentially be the fourth energy IPO of the year.