Renaissance Capital logo

Commentary & News

US IPO Week Ahead: Carve-outs, cross-listings, and energy plays close out the 2Q IPO market

LB

Three IPOs are currently scheduled to debut in the week ahead as the second quarter comes to a close. Oil land acquirer LandBridge (LB) plans to raise $297 million at a $1.5 billion market cap. LandBridge was formed by energy-focused private equity firm Five Point Energy to support the water handling infrastructure of portfolio company WaterBridge by managing and...read more

US IPO Weekly Recap: Flurry of SPACs and IPOs fill the pipeline in short holiday week

RECT

One IPO and three SPACs debuted this week. Meanwhile, six IPOs and seven SPACs submitted initial filings this past week. Singapore-based safety equipment provider Rectitude Holdings (RECT) priced at the bottom of the range to raise $8 million at a $58 million market cap. The company makes safety equipment, encompassing items such as personal protective clothing,...read more

Hospital operator Ardent Health files for an estimated $500 million IPO

ARDT

Ardent Health, which operates hospitals and health care clinics in six states, filed on Friday with the SEC to raise up to $100 million in an initial public offering. However, this is likely a placeholder for a deal we estimate could raise up to $500 million. Ardent Health states that it is the fourth largest privately held, for-profit operator of hospitals in the US. The company...read more

SPAC Black Spade Acquisition II files for a $150 million IPO, following VinFast merger

Black Spade Acquisition II, a blank check company targeting the entertainment, lifestyle, and tech industries, filed on Friday with the SEC to raise up to $150 million in an initial public offering. The Hong Kong-based company plans to raise $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at...read more