US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

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.

US IPOs and Secondary Offerings

Reformation Inc. (REF): Womenswear Brand to Test Market, Sets Terms Seeking $1.0b Valuation

Reformation (REF): Premium Brand, Premium Price: Investors Weigh Reformation's IPO

Reformation (REF): Disciplined Pricing Helps Fashion Brand Deliver a Steady Market Debut

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>Leading sustainable fashion brand with over 1.1 million active customers, 64 stores, strong celebrity influence, and more than 90% of revenue generated through direct-to-consumer channels.</li>
<li>Compelling financial profile featuring 20 consecutive quarters of double-digit revenue growth, premium gross margins, positive earnings, and $507 million in 2025 revenue.</li>
<li>Significant runway for expansion through new stores, international markets, wholesale growth, and category expansion, supported by an agile supply chain and highly loyal customer base.</li>
</ul>


Leading sustainable fashion brand with over 1.1 million active customers, 64 stores, strong celebrity influence, and more than 90% of revenue generated through direct-to-consumer channels.
Compelling financial profile featuring 20 consecutive quarters of double-digit revenue growth, premium gross margins, positive earnings, and $507 million in 2025 revenue.
Significant runway for expansion through new stores, international markets, wholesale growth, and category expansion, supported by an agile supply chain and highly loyal customer base.


Reformation Inc. (REF): Peeking at the IPO Prospectus of a Womenswear Brand