In today’s briefing:
- Metsera Inc (MTSR): GLP-1 Boom Comes to the IPO Market with Explosive Debut
- Titan America (TTAM): Cement Producer IPO Spin-Off Poised for Growth Amid Favorable Industry Trends
- Infinity Natural Resources (INR): Buyers Step In Marking Second Winning Energy IPO
- Maze Therapeutics (MAZE): Upsized IPO Slumps in the Aftermarket
Metsera Inc (MTSR): GLP-1 Boom Comes to the IPO Market with Explosive Debut
- Metsera (MTSR US), a biotech using peptides to treat obesity, overweight and related conditions opened 41.7% above the issue price.
- The company was seeking a specific cash-raise of $275 million and was not looking to allow further dilution.
- IPOs in the biotech sector are a “sell-the-news” event until we see on the tape otherwise.
Titan America (TTAM): Cement Producer IPO Spin-Off Poised for Growth Amid Favorable Industry Trends
- Spinoff of European Parent Titan Cement is seeking a potential $3b valuation.
- The financial metrics of this company have been steadily improving which could lend a strong opportunity if priced attractively.
- We will be taking a wait-and-see approach for our short-term time frame forecast regarding this deal versus the issue price.
Infinity Natural Resources (INR): Buyers Step In Marking Second Winning Energy IPO
- 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.
Maze Therapeutics (MAZE): Upsized IPO Slumps in the Aftermarket
- Maze Therapeutics (MAZE US) upsized its transaction but saw its IPO price dip below issue on day one.
- A critical piece of information, price guidance, was missing from the final channel check sending a warning message to the market.
- With the lack of enthusiasm for this IPO during its first session, we would encourage investors to exercise caution on this IPO in the aftermarket.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
