Steady improvement seen for IPOs in 2025, but no rush
The U.S. has seen a slowness in debuts over the past three years despite a strong backdrop for IPOs, with major stock indexes trading near record highs.
Initial Public Offerings
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Andretti special purpose acquisition company to merge with Boston-based AI startup
Andretti Acquisition Corp., a blank-check company that was formed last year, announced Wednesday that it plans to merge with Boston-based startup Zapata AI.
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Indy-based smart mailbox startup prepping for public offering
Arrive CEO Dan O’Toole said he is targeting early 2024 to make the initial public offering. The company has secured the ticker symbol ARRV.
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Cummins files for IPO for filtration business spinoff
Spinoff Atmus Filtration Technologies was originally founded in 1958 as the Seymour Filtration Co., based in Seymour, Indiana, with a single filter production line to support Cummins diesel engines.
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Cummins to spin off filtration business into separate public company
Columbus-based Cummins has confidentially filed paperwork with the Securities and Exchange Commission for an initial public offering for its filtration business. Cummins announced last summer that it was looking at “strategic alternatives” for the business.
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Articles
Carmel-based MBX Biosciences shares jump 48% in Nasdaq debut
The five-year-old company is developing treatments for endocrine and metabolic disorders, such as hypoparathyroidism, post-bariatric hypoglycemia and obesity. Its positive reception on Wall Street was seen as an extension of the general enthusiasm for obesity treatments.
Andretti SPAC completes $230M initial public offering
Andretti Acquisition Corp. II is a special purpose acquisition company (often called a blank-check company), or SPAC, formed with the intent of acquiring another company and taking it public.
Fishers startup prepares to go public
Four-year-old Novusterra Inc. is planning an initial public offering within 90 days and hopes to be approved to trade on the OTCQB Venture Market, often used by companies that are still developing.
MBX Biosciences files intention to go public
The five-year-old, clinical-stage drugmaker has already raised more than $213 million to develop therapeutics to treat rare endocrine disorders, a huge amount for a startup.
Andretti SPAC’s shareholders to vote on proposed merger with AI firm
If Andretti Acquisition Corp.’s shareholders approve the merger, the deal is expected to close shortly after the vote, and shares of the combined company will begin trading on the New York Stock Exchange.
Companies grew more confident about initial public offerings in 2023
The signs of life shown by the IPO market, especially in the second half of the year, are giving analysts hope that more companies will be enticed to go public in 2024.
Syra Health rings Nasdaq opening bell; shares slide to new low
The company was formed only three years ago and went public on Sept. 29 in an initial public offering that raised $5.3 million after expenses.
State’s newest public company faces hurdles
Syra Health Corp., a Carmel-based health care services company, raised $5.3 million after expenses in its initial public offering. But it faces a slew of challenges, from winning new customers to launching products and services quickly to stem losses.
Carmel-based Syra Health prices initial public offering
The company said it would raise $6.7 million in gross proceeds, exceeding expectations from earlier this month.
Instacart goes from supermarket to stock market, raising $660M with IPO
The pricing of the IPO gave Instacart a market value of around $10 billion, significantly lower than the $39 billion value placed on it after a fundraising round in 2021.
Carmel-based Syra Health cuts IPO expectations by one-third
The two-year-old startup that provides professional services in the health care and life science industries has sharply cut how much it expects to raise in its upcoming initial public offering.
Carmel startup NeurAxis raises $6.6M in IPO, less than half of its original forecast
The company, which is developing electrical-nerve stimulation therapies for children, went public this month at an initial price of $6 a share—lower than the range of $7 to $9 a share it announced in February.
Stock market gains help pave way for IPO resurgence
The rebound in IPOs is being fueled by a stock market rally that has the S&P 500 up about 19% so far this year, a sharp reversal from last year’s 19.4% loss.
Carmel startup Syra Health files to go public
Officials of the two-year-old firm that provides professional services in the health care and life science industries expect the offering to raise up to $8 million.
Cummins filtration business targets $341M in IPO
In April 2022, Cummins announced plans to spin off the business, then known as Cummins Filtration, which provides filtration products for trucks, off-highway industrial equipment and power generation systems.
Medical-device company to raise about $15M in IPO
Neuraxis Inc., based in Versailles and with an office in Carmel, said it will use the proceeds to ramp up its sales and marketing efforts, along with research and development and other functions.
Laikin’s Indy-based Novus Capital II closes merger with California energy-storage firm
Novus Capital Corp. II announced in September it would merge with Energy Vault in a deal that would take the 4-year-old company public. The transaction gives Energy Vault an immediate cash infusion of $355 million.
Michael Andretti’s company makes $200M initial public offering
Andretti Acquisition Corp. is a special purpose acquisition company, often referred to as a SPAC or blank-check company, that “seeks to focus on opportunities that can benefit from the iconic Andretti brand name.”
Indianapolis investing group bets big on renewable energy
A blank-check company, or SPAC, plans to close early next year on a merger with California-based Energy Vault that will take the company public and give it a cash infusion of $388 million.