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

Caris Life Sciences / Equity Capital Markets

<ul>
<li>Sixth Street Partners is a significant investor in Caris Life Sciences and has been involved in multiple funding rounds since 2018.</li>
<li>The company has more than 100 biopharma partners, such as Moderna, AbbVie, Xencor, and Merck KGaA.</li>
<li>For the three months ended March 31, 2025 and 2024, they generated total revenue of $120.9 million and $80.7 million, respectively. The company also has significant net losses.</li>
</ul>


Sixth Street Partners is a significant investor in Caris Life Sciences and has been involved in multiple funding rounds since 2018.
The company has more than 100 biopharma partners, such as Moderna, AbbVie, Xencor, and Merck KGaA.
For the three months ended March 31, 2025 and 2024, they generated total revenue of $120.9 million and $80.7 million, respectively. The company also has significant net losses.


Caris Life Sciences, Inc. (CAI): Peeking at the Prospectus of an AI TechBio IPO

Independent in-depth research from Finimize, Finimize

Finimize Research

Independent in-depth research from Finimize

Finimize

Finimize is the #1 information platform for modern investors. We empower people to become smarter investors with bitesize insights from world-class analysts. 1 million+ strong community, 250 partners.

Cross Asset Strategy

<ul>
<li>Technical analysis can help you keep your zen as it cuts through the noise by providing a set of rules on when to buy, sell, or just sit tight.</li>
<li>There are many technical indicators, but using both the simple moving average and the moving average convergence divergence can tell you most of what you need to know</li>
<li>Here’s how the two indicators work, what makes them so effective when using them together, and a look at a few major stock ETFs,  gold, bitcoin, and the Mag 7.</li>
</ul>


Technical analysis can help you keep your zen as it cuts through the noise by providing a set of rules on when to buy, sell, or just sit tight.
There are many technical indicators, but using both the simple moving average and the moving average convergence divergence can tell you most of what you need to know
Here’s how the two indicators work, what makes them so effective when using them together, and a look at a few major stock ETFs,  gold, bitcoin, and the Mag 7.


Two Technical Indicators, And The Top Trades They’re Pointing To Now

<ul>
<li>The company priced 11.9mm shares (upsized from 10.0mm) at $52.00 and opened at $69.69 for a gain of 34.0% at first trade.</li>
<li>Our sources stated that the deal finished north of 20-times oversubscribed with the bottom-third of the book being completely shut-out.</li>
<li>We believe the company was well-received due to an attractive valuation versus comps and by the performance of the comps in the sessions leading up to this debut.</li>
</ul>


The company priced 11.9mm shares (upsized from 10.0mm) at $52.00 and opened at $69.69 for a gain of 34.0% at first trade.
Our sources stated that the deal finished north of 20-times oversubscribed with the bottom-third of the book being completely shut-out.
We believe the company was well-received due to an attractive valuation versus comps and by the performance of the comps in the sessions leading up to this debut.


EToro Group Ltd (ETOR): Strong IPO Pricing Outcome Yields Explosive Debut

Aspen Insurance Holdings / Equity Capital Markets

<ul>
<li>A total of 11.0mm shares are being offered with the entirety being offloaded by the sponsor, Apollo Global Securities.</li>
<li>This company was acquired by private-equity titan Apollo Global in a transaction announced in August 2018 and closing in February 2019.</li>
<li>For the three months ended March 31, 2025, Aspen Insurance had gross written premiums of $1.287b vs. $1.231b in the same period in 2024 for an increase of 4.5%.</li>
</ul>


A total of 11.0mm shares are being offered with the entirety being offloaded by the sponsor, Apollo Global Securities.
This company was acquired by private-equity titan Apollo Global in a transaction announced in August 2018 and closing in February 2019.
For the three months ended March 31, 2025, Aspen Insurance had gross written premiums of $1.287b vs. $1.231b in the same period in 2024 for an increase of 4.5%.


Aspen Insurance Holdings Limited (AHL): Apollo Backed Company Sets Terms; Seeking $2.9b Valuation

American Integrity Insurance Group / Equity Capital Markets

<ul>
<li>American Integrity Insurance Group (AII US) was one of two insurance companies to set terms for an IPO on Tuesday morning for a debut next week.</li>
<li>Gross premiums written increased 43.9% to $212.2 million for the three months ended March 31, 2025, compared to $147.5 million for the three months ended March 31, 2024. </li>
<li>The underwriting lineup on this sector, led by Keefe Bruyette &amp; Woods, has a strong track record of pricing and placing transactions in this sector.</li>
</ul>


American Integrity Insurance Group (AII US) was one of two insurance companies to set terms for an IPO on Tuesday morning for a debut next week.
Gross premiums written increased 43.9% to $212.2 million for the three months ended March 31, 2025, compared to $147.5 million for the three months ended March 31, 2024. 
The underwriting lineup on this sector, led by Keefe Bruyette &amp; Woods, has a strong track record of pricing and placing transactions in this sector.


American Integrity Insurance Group (AII): Florida Based Insurance Company Sets Terms for IPO

United States

SPDR S&P 500 ETF Trust is an exchange-traded fund incorporated in the USA. The ETF tracks the S&P 500 Index. The Trust consists of a portfolio representing all 500 stocks in the S&P 500 Index. It holds predominantly large-cap U.S. stocks. This ETF is structured as a Unit Investment Trust and pays dividends on a quarterly basis. The holdings are weighted by market capitalization.

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SPDR S&P 500 (SPY US)

Caris Life Sciences, Inc. (CAI): Peeking at the Prospectus of an AI TechBio IPO

Sixth Street Partners invests in Caris Life Sciences, a company with over 100 biopharma partners, showing growth in revenue but also significant...

IPO Boutique

Two Technical Indicators, And The Top Trades They’re Pointing To Now

Technical analysis can help you keep your zen when markets are volatile and unpredictable. Here's an update on the main ETFs, bitcoin, gold, and...

Finimize Research

EToro Group Ltd (ETOR): Strong IPO Pricing Outcome Yields Explosive Debut

Company prices IPO at $52 per share, opens at $69.69 with 34.0% gain. Oversubscribed deal reflects strong investor interest in attractive valuation.

IPO Boutique

Aspen Insurance Holdings Limited (AHL): Apollo Backed Company Sets Terms; Seeking $2.9b Valuation

11mm shares offered by Apollo Global, acquired company, Aspen Insurance, saw 4.5% increase in gross written premiums for Q1 2025.

IPO Boutique

American Integrity Insurance Group (AII): Florida Based Insurance Company Sets Terms for IPO

American Integrity Insurance Group sets terms for IPO, with strong underwriting lineup and significant increase in gross premiums written.

IPO Boutique

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Caris Life Sciences, Inc. (CAI): Peeking at the Prospectus of an AI TechBio IPO

​Sixth Street Partners invests in Caris Life Sciences, a company with over 100 biopharma partners, showing growth in revenue but also significant...

IPO Boutique

Two Technical Indicators, And The Top Trades They’re Pointing To Now

Technical analysis can help you keep your zen when markets are volatile and unpredictable. Here's an update on the main ETFs, bitcoin, gold, and...

Finimize Research

EToro Group Ltd (ETOR): Strong IPO Pricing Outcome Yields Explosive Debut

​Company prices IPO at $52 per share, opens at $69.69 with 34.0% gain. Oversubscribed deal reflects strong investor interest in attractive valuation.

IPO Boutique

Aspen Insurance Holdings Limited (AHL): Apollo Backed Company Sets Terms; Seeking $2.9b Valuation

​11mm shares offered by Apollo Global, acquired company, Aspen Insurance, saw 4.5% increase in gross written premiums for Q1 2025.

IPO Boutique

American Integrity Insurance Group (AII): Florida Based Insurance Company Sets Terms for IPO

​American Integrity Insurance Group sets terms for IPO, with strong underwriting lineup and significant increase in gross premiums written.

IPO Boutique

Sixth Street Partners invests in Caris Life Sciences, a company with over 100 biopharma partners, showing growth in revenue but also significant...

Company prices IPO at $52 per share, opens at $69.69 with 34.0% gain. Oversubscribed deal reflects strong investor interest in attractive valuation.

11mm shares offered by Apollo Global, acquired company, Aspen Insurance, saw 4.5% increase in gross written premiums for Q1 2025.

American Integrity Insurance Group sets terms for IPO, with strong underwriting lineup and significant increase in gross premiums written.