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>Whitefiber (WYFI US) priced its upsized IPO of 9.38 million shares at $17.00 and opened Thursday at $25.00 for a robust 47.1% gain at first trade.</li>
<li>The stock closed its opening session at $16.22 for a loss of 4.6% versus issue price.</li>
<li>We believe long-only buyers and sector specialists could start to re-engage in the coming weeks once volatility subsides and the “hot money” clears out. </li>
</ul>


Whitefiber (WYFI US) priced its upsized IPO of 9.38 million shares at $17.00 and opened Thursday at $25.00 for a robust 47.1% gain at first trade.
The stock closed its opening session at $16.22 for a loss of 4.6% versus issue price.
We believe long-only buyers and sector specialists could start to re-engage in the coming weeks once volatility subsides and the “hot money” clears out. 


WhiteFiber, Inc. (WYFI): Hot Money Chases AI Hype in a Rare First-Day Upsized IPO Fizzle

<ul>
<li>WhiteFiber is offering 7.8 million shares at $15-$17 equating to a potential market cap of $523m-$593m.</li>
<li>Insiders are buying in this offering which adds to the bullish thesis.</li>
<li>They expect revenue to come between $17.7m-$19.6m for Q2 2025 after posting revenue of $16.8m in Q1 2025. </li>
</ul>


WhiteFiber is offering 7.8 million shares at $15-$17 equating to a potential market cap of $523m-$593m.
Insiders are buying in this offering which adds to the bullish thesis.
They expect revenue to come between $17.7m-$19.6m for Q2 2025 after posting revenue of $16.8m in Q1 2025. 


WhiteFiber, Inc. (WYFI): Subsidiary of Bit Digital, CoreWeave Comp Attracting IPO Interest

<ul>
<li>WhiteFiber is offering 7.8 million shares at $15-$17 equating to a potential market cap of $523m-$593m.</li>
<li>They are currently a wholly-owned subsidiary of Bit Digital. They intend to sell approximately 22.4% of their issued and outstanding Ordinary Shares to the public as part of this offering.</li>
<li>They expect preliminary unaudited revenue from cloud services for the three months ended June 30, 2025 will be $16.1 million to $17.8 million, an increase of  28.7% to 42.3%, respectively.</li>
</ul>


WhiteFiber is offering 7.8 million shares at $15-$17 equating to a potential market cap of $523m-$593m.
They are currently a wholly-owned subsidiary of Bit Digital. They intend to sell approximately 22.4% of their issued and outstanding Ordinary Shares to the public as part of this offering.
They expect preliminary unaudited revenue from cloud services for the three months ended June 30, 2025 will be $16.1 million to $17.8 million, an increase of  28.7% to 42.3%, respectively.


WhiteFiber, Inc. (WYFI): AI Infrastructure Company Sets Terms for IPO, Data Centers in Focus

<ul>
<li>Bit Digital's division of high performance computing (HPCs) is going public with B. Riley and Needham leading the IPO. </li>
<li>They had revenue of $8.17 million and $16.77 million and net income of $826.5 thousand and $1.43 million in the first quarter or 2024 and 2025, respectively.</li>
<li>A comp to this IPO, CoreWeave (CRWV US), saw its company highly scrutinized in the pre-IPO process only to see the stock outperform once going public.</li>
</ul>


Bit Digital's division of high performance computing (HPCs) is going public with B. Riley and Needham leading the IPO. 
They had revenue of $8.17 million and $16.77 million and net income of $826.5 thousand and $1.43 million in the first quarter or 2024 and 2025, respectively.
A comp to this IPO, CoreWeave (CRWV US), saw its company highly scrutinized in the pre-IPO process only to see the stock outperform once going public.


WhiteFiber, Inc. (WYFI): Peeking at the IPO Prospectus of an AI Infrastructure Solutions Company

<ul>
<li>CoreWeave priced a downsized IPO — 37.5 million shares at $40.00 — well below the marketed $47–$55 range.</li>
<li>He debut was muted (opened at ~$39 and closed at the $40 IPO price), but the stock ripped higher in the weeks that followed and peaked at $187 in June.</li>
<li>By late October CoreWeave ranked among the top performing 2025 IPOs, sitting behind Circle Internet Group and Karman Holdings in aftermarket returns.</li>
</ul>


CoreWeave priced a downsized IPO — 37.5 million shares at $40.00 — well below the marketed $47–$55 range.
He debut was muted (opened at ~$39 and closed at the $40 IPO price), but the stock ripped higher in the weeks that followed and peaked at $187 in June.
By late October CoreWeave ranked among the top performing 2025 IPOs, sitting behind Circle Internet Group and Karman Holdings in aftermarket returns.


CoreWeave Inc (CRWV): Six Month Summary: AI Hyperscaler that Re-Priced the IPO Playbook

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Whitefiber (WYFI US)

WhiteFiber, Inc. (WYFI): Hot Money Chases AI Hype in a Rare First-Day Upsized IPO Fizzle

Whitefiber (WYFI US) IPO opens strong at $25.00, but closes first day at $16.22. Long-term buyers may re-enter once volatility settles.

IPO Boutique

WhiteFiber, Inc. (WYFI): Subsidiary of Bit Digital, CoreWeave Comp Attracting IPO Interest

WhiteFiber is offering 7.8 million shares at $15-$17, with insiders buying in, expecting revenue of $17.7m-$19.6m for Q2 2025.

IPO Boutique

WhiteFiber, Inc. (WYFI): AI Infrastructure Company Sets Terms for IPO, Data Centers in Focus

WhiteFiber plans to offer 7.8 million shares at $15-$17, potentially reaching a market cap of $523m-$593m, with expected revenue growth of 28.7%...

IPO Boutique

WhiteFiber, Inc. (WYFI): Peeking at the IPO Prospectus of an AI Infrastructure Solutions Company

Bit Digital's HPC division going public with B. Riley and Needham, showing strong revenue and net income growth. CoreWeave IPO comp suggests...

IPO Boutique

CoreWeave Inc (CRWV): Six Month Summary: AI Hyperscaler that Re-Priced the IPO Playbook

CoreWeave's IPO initially priced below expectations but saw significant gains in the following weeks, becoming one of the top performing 2025 IPOs.

IPO Boutique

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

WhiteFiber, Inc. (WYFI): Hot Money Chases AI Hype in a Rare First-Day Upsized IPO Fizzle

​Whitefiber (WYFI US) IPO opens strong at $25.00, but closes first day at $16.22. Long-term buyers may re-enter once volatility settles.

IPO Boutique

WhiteFiber, Inc. (WYFI): Subsidiary of Bit Digital, CoreWeave Comp Attracting IPO Interest

​WhiteFiber is offering 7.8 million shares at $15-$17, with insiders buying in, expecting revenue of $17.7m-$19.6m for Q2 2025.

IPO Boutique

WhiteFiber, Inc. (WYFI): AI Infrastructure Company Sets Terms for IPO, Data Centers in Focus

​WhiteFiber plans to offer 7.8 million shares at $15-$17, potentially reaching a market cap of $523m-$593m, with expected revenue growth of 28.7%...

IPO Boutique

WhiteFiber, Inc. (WYFI): Peeking at the IPO Prospectus of an AI Infrastructure Solutions Company

​Bit Digital's HPC division going public with B. Riley and Needham, showing strong revenue and net income growth. CoreWeave IPO comp suggests...

IPO Boutique

CoreWeave Inc (CRWV): Six Month Summary: AI Hyperscaler that Re-Priced the IPO Playbook

​CoreWeave's IPO initially priced below expectations but saw significant gains in the following weeks, becoming one of the top performing 2025 IPOs.

IPO Boutique

Whitefiber (WYFI US) IPO opens strong at $25.00, but closes first day at $16.22. Long-term buyers may re-enter once volatility settles.

WhiteFiber is offering 7.8 million shares at $15-$17, with insiders buying in, expecting revenue of $17.7m-$19.6m for Q2 2025.

WhiteFiber plans to offer 7.8 million shares at $15-$17, potentially reaching a market cap of $523m-$593m, with expected revenue growth of 28.7%...

Bit Digital's HPC division going public with B. Riley and Needham, showing strong revenue and net income growth. CoreWeave IPO comp suggests...

CoreWeave's IPO initially priced below expectations but saw significant gains in the following weeks, becoming one of the top performing 2025 IPOs.