CTRI 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

Five IPOs raised $858 million this past week, led by fast-growing digital coupon platform Ibotta (IBTA) and utility infrastructure services carve-out Centuri Holdings (CTRI). Both deals managed to price above the midpoint and notch double-digit returns, even as the broader IPO Index plunged 6.9% this week, alongside a 5.5% drop in the Nasdaq....read more

Centuri Holdings, a carve-out of Southwest Gas providing infrastructure services to utilities, raised $260 million by offering 12.4 million shares at $21, the high end of the range of $18 to $21. The company raised an additional $54 million from a concurrent private placement to Icahn Partners and affiliates. The Phoenix, AZ-based company is a pure-play provider of North...read more

Two sizable IPOs are currently scheduled for the week ahead, led by another large tech deal. Digital rebate platform Ibotta (IBTA) plans to raise $450 million at a $2.8 billion market cap. The company's platform allows CPG brands to deliver digital promotions to consumers through a single network, and as of 12/31/23, it worked directly with over 850 different...read more