PACS News

Eighteen IPOs raised a combined $5.3 billion in April, above the 10-year historical average by deal count and proceeds (16 IPOs, $3.7B). It was the busiest month for both overall new issuance and $100+ million IPOs since November 2021. Nine deals raised $100 million or more, led by the billion-dollar offering of cruise operator Viking (VIK). Large VC-backed tech...read more

Three IPOs debuted this past week. Three IPOs and one SPAC submitted initial filings this week. Product assessment services provider UL Solutions (ULS) priced its upsized IPO above the midpoint to raise $946 million at a $5.7 billion market cap. UL Solutions provides testing, inspection, and certification (TIC) services and related software and advisory offerings...read more

PACS Group, a post-acute care provider with more than 200 nursing facilities across the US, raised $450 million by offering 21.4 million shares at $21, within the range of $20 to $22. The company offered 2.4 million more shares than anticipated. PACS Group is a post-acute healthcare company primarily focused on delivering skilled nursing care through a portfolio of independently...read more

Two sizable listings are currently scheduled for the week ahead, although smaller issuers may join the calendar throughout the week. Product assessment services provider UL Solutions (ULS) plans to raise $770 million at a $5.6 billion market cap. UL Solutions provides testing, inspection, and certification (TIC) services and related software and advisory (S&A)...read more