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

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<li>Biotech remains the IPO market’s lone bright spot, with TRex Bio testing investor appetite as broader September IPOs struggled and Oura postponed. </li>
<li>TRex Bio is seeking $117–$133 million at a $384–$439 million valuation, backed by a Phase 1 lead program and a Lilly collaboration. </li>
<li>Lilly provides a significant validation signal, with a 23.9% pre-IPO stake and TRex Bio eligible for up to $577.5 million in additional milestones plus royalties.</li>
</ul>


Biotech remains the IPO market’s lone bright spot, with TRex Bio testing investor appetite as broader September IPOs struggled and Oura postponed. 
TRex Bio is seeking $117–$133 million at a $384–$439 million valuation, backed by a Phase 1 lead program and a Lilly collaboration. 
Lilly provides a significant validation signal, with a 23.9% pre-IPO stake and TRex Bio eligible for up to $577.5 million in additional milestones plus royalties.


TRex Bio (TRXB): Biotech Sector Remains Open as Lilly Backed Bio Sets Terms for IPO

Accelevation Holdings / Equity Capital Markets

<ul>
<li>Accelevation targets a $4.5-$5.4 billion valuation, offering investors exposure to the rapidly expanding AI and data center infrastructure buildout.</li>
<li>Revenue surged 176% in 1H26, while $1.1 billion of backlog and a 2.5x book-to-bill provide significant forward revenue visibility.</li>
<li>Olympus Partners is selling 21.4 million shares, making the IPO primarily a secondary offering, while proceeds will repay approximately $180 million of debt.</li>
</ul>


Accelevation targets a $4.5-$5.4 billion valuation, offering investors exposure to the rapidly expanding AI and data center infrastructure buildout.
Revenue surged 176% in 1H26, while $1.1 billion of backlog and a 2.5x book-to-bill provide significant forward revenue visibility.
Olympus Partners is selling 21.4 million shares, making the IPO primarily a secondary offering, while proceeds will repay approximately $180 million of debt.


Accelevation Holdings (ACCV): Another AI Infrastructure Company Sets Terms, Seeking $5b+ Valuation

United States

Oura Health is a Finnish health technology company best known for creating the Oura Ring, a leading wearable smart ring.

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Oura (OURA US)

TRex Bio (TRXB): Biotech Sector Remains Open as Lilly Backed Bio Sets Terms for IPO

TRex Bio brings a Treg-focused biotech platform to market with a Phase 1 lead asset, strong existing investors and Eli Lilly backing as biotech...

IPO Boutique

Accelevation Holdings (ACCV): Another AI Infrastructure Company Sets Terms, Seeking $5b+ Valuation

Accelevation brings a $1.1B backlog and 176% 1H26 revenue growth to the AI data center boom, but Olympus’ large secondary sale bears watching.

IPO Boutique

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