SmartStop Self Storage REIT, Inc. (Ticker: SMST US), a US-based internally managed Real Estate Investment Trust, specializes in owning and operating self-storage facilities across the United States and Canada. SmartStop plans to list on the NYSE on April 2, 2025. The IPO consists of 27.0 million shares offered within a price range of $28.00 to $36.00, aiming to raise approximately $864.0 million. As the 11th largest self-storage owner/operator in the U.S., its portfolio includes 159 properties. The estimated market capitalization is $1.64 billion. The offering is managed by Citigroup, Wells Fargo Securities, KeyBanc Capital Markets, and BMO Capital Markets.

Bgin Blockchain Ltd. (Ticker: BGIN US), a Cayman Islands-incorporated company with operations in Singapore, Hong Kong, and the U.S., designs and sells cryptocurrency mining equipment, focusing on alternative currencies. The company plans to list on NASDAQ on April 1, 2025. The IPO consists of 6.3 million shares with a price range of $7.00-$9.00, aiming to raise $50.0 million. Bgin's subsidiaries design and sell mining machines with proprietary ASIC chips for mining cryptocurrencies. They also offer miner hosting services. The underwriters are Chardan and The Benchmark Company. For the fiscal year ended December 31, 2023, and the six months ended June 30, 2024, the company sold 67,998 and 47,252 mining machines, respectively. The company reported revenue of $392.23 million and net income of $201.94 million for the last 12 months, with operations heavily dependent on KAS coins. Market cap is $652 million.

Newsmax Inc (Ticker: NMAX US), a United States-based internet content and news provider, plans to list on the New York Stock Exchange on March 31, 2025. Newsmax completed its IPO under Regulation A+, raising $75 million through the sale of 7.5 million Class B Common Stock shares at $10.00 per share. Newsmax, founded in 1998 and operating the Newsmax channel since 2014, is now reportedly the fourth highest-rated cable news channel in the U.S. According to the CEO, the IPO proceeds, combined with previous private funding, will be used to "accelerate growth initiatives, expand programming, and enhance digital presence." Digital Offering LLC acted as the lead selling agent.

CoreWeave, Inc. (Ticker: CRWV US), a company specializing in cloud computing infrastructure and services for AI, plans to list on NASDAQ on March 28, 2025. Describing itself as "The AI Hyperscaler," CoreWeave offers a proprietary cloud platform optimized for AI workloads. The IPO consists of 49 million shares (47.18 million offered by the company and 1.82 million by selling stockholders) with a price range of $47.00 to $55.00, aiming to raise approximately $2.5 billion. Its market cap is estimated at $24.15 billion. The company was founded in 2017. CoreWeave's platform is used by major AI companies, including Cohere, IBM, Meta, Microsoft, Mistral, and NVIDIA. The lead underwriters are Morgan Stanley, J.P. Morgan, Goldman Sachs, Barclays, Citigroup, MUFG, Deutsche Bank Securities, Jefferies, Mizuho, Wells Fargo Securities and BofA Securities.

Kestra Medical Technologies, Ltd. (Ticker: KMTS US), a Bermuda-incorporated company specializing in wearable cardioverter defibrillators (WCDs), plans to list on NASDAQ on March 6, 2025. Kestra’s IPO was upsized from 10.0 million shares to 11.88 million, and priced at $17, above a price range of $14.00-$16.00, aiming to raise $202 million. The company's ASSURE WCD product, launched in 2022, is used in over 550 U.S. hospitals.

The offering is managed by BofA Securities, Goldman Sachs, Piper Sandler, Wells Fargo Securities and Stifel. Kestra reported revenue of $45.8 million and a net loss of $84.8 million for the 12 months ended Oct. 31, 2024, market cap is $714.75 million.

Northpointe Bancshares Inc. (Ticker: NPB) is a bank holding company incorporated in Michigan, backed by private equity firm Castle Creek. It operates primarily through its wholly-owned banking subsidiary, Northpointe Bank, offering a nationwide mortgage purchase program, residential mortgage loans, digital deposit banking to retail customers, and custodial deposit services to loan servicing clients.

Northpointe Bancshares Inc. will list on February 14, 2025, on NYSE. The firm is selling 8.8 million shares at the price range of $16.00-$18.00, with the company offering 7.35 million shares and selling stockholders offering 1.47 million shares. The expected Market Capitalization at offer is $561.72 million. The total offer size is $149.9 million. The offering is managed by Keefe, Bruyette & Woods (A Stifel Company).

Aardvark Therapeutics (Ticker: AARD) is a clinical-stage biopharmaceutical company focusing on developing small-molecule therapeutics to activate innate homeostatic pathways for the treatment of metabolic diseases, including obesity. Their lead product candidate, ARD-101, is an oral gut-restricted small-molecule agonist of certain TAS2Rs for which they have initiated a Phase 3 clinical trial for hyperphagia associated with the genetic disorder Prader-Willi Syndrome (PWS). They also intend to evaluate ARD-101 in a Phase 2 clinical trial for hyperphagia associated with hypothalamic obesity, a rare condition that can be congenital or acquired through brain injury.

Aardvark Therapeutics will list on February 14, 2025, on NASDAQ. The firm is selling 5.9 million shares at the price range of $16.00-$18.00. The expected Market Capitalization at offer is around $363 million. The total offer size is $100 million. The offering is managed by Morgan Stanley/BofA Securities/Cantor/RBC Capital Markets.

Karman Holdings (Ticker: KRMN), also known as TCFIII SpaceCo Holdings LLC, is an aerospace and defense company specializing in the design, testing, manufacturing, and sale of mission-critical systems for missile and defense, and space programs. Their solutions include payload protection and deployment systems, aerodynamic interstage systems, and propulsion systems. Karman Holdings serves a diverse customer base within the Hypersonics & Strategic Missile Defense, Missile & Integrated Defense Systems, and Space & Launch end-markets.

Karman Holdings will list on February 14, 2025, on NYSE. The firm is selling 21.1 million shares at the price range of $18.00-$20.00. The expected Market Capitalization at offer is $2.5 billion. The total offer size is $400 million. The offering is managed by Citigroup/Evercore ISI/RBC Capital Markets/William Blair.

SailPoint Parent, LP (Ticker: SAIL) provides enterprises with customized identity security software offering a range of solutions to meet the varied needs of customers across multiple deployment options. Their solutions include Identity Security Cloud, a SaaS-based cloud solution built on their unified platform, Atlas, and IdentityIQ, a customer-hosted identity security solution.

SailPoint Parent, LP will list on February 13, 2025, on NASDAQ. The firm is selling 50.0 million shares at the price range of $19.00-$21.00, with SailPoint offering 47.5 million shares and the selling stockholders offering 2.5 million shares. The expected Market Capitalization at offer is $10.9 billion. The total offer size is $1 billion. The offering is managed by Morgan Stanley/Goldman Sachs/J.P. Morgan/Evercore ISI/BofA Securities/Barclays/Jeffries/RBC Capital Markets/BMO Capital Markets/BTIG/Mizuho/Piper Sandler/TD Cowen/Truist Securities.

Sionna Therapeutics (Ticker: SION) is a clinical-stage biopharmaceutical company developing medicines for cystic fibrosis (CF) patients, that normalize the function of the cystic fibrosis transmembrane conductance regulator (CFTR) protein to deliver clinically meaningful benefits to CF patients. The company is conducting ongoing Phase 1 trials of two candidates, SION-719 and SION-451.

Sionna Therapeutics will list on February 7, 2025, on NASDAQ. The firm is selling 8.8 million shares at the price range of $16.00-$18.00. The expected Market Capitalization at offer is $692.88 million. The total offer size is $150.0 million. The offering is managed by Goldman Sachs/TD Cowen/Stifel/Guggenheim Securities.

RedCloud Holdings PLC (Ticker: RCT) is a UK-based software company operating a B2B platform for trading fast-moving consumer goods (FMCG) across supply chains. Founded in 2014 and headquartered in London, the company’s platform leverages artificial intelligence to provide data-driven insights that help retailers make informed purchasing and inventory decisions. RedCloud currently operates in high-growth consumer markets, including Argentina, Brazil, Nigeria, and South Africa.

RedCloud Holdings PLC will list on February 7, 2025, on the NASDAQ. The firm is selling 11.0 million shares at the price range of $4.00-$6.00. The expected Market Capitalization at offer is $352 million. The total offer size is $66.0 million. The offering is managed by Roth Capital Partners, Clear Street LLC, and Rosenblatt Securities. For the 12 months ending June 30, 2024, RedCloud reported revenues of $30 million.

Titan America (Ticker: TTAM) is a vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States. Incorporated in Belgium, the company provides materials that contribute to lower carbon emissions than traditional building materials and/or the beneficial reuse of waste materials. Titan America operates in Florida, the New York and New Jersey Metropolitan area, Virginia, North Carolina, and South Carolina. Their product portfolio includes cement and supplementary cementitious materials, aggregates, ready-mix concrete, concrete blocks, and other ancillary products.

Titan America will list on February 7, 2025, on NYSE. The firm is selling 24.0 million shares at the price range of $15.00-$18.00, with Titan America offering 9.0 million shares and the selling shareholder offering 15.0 million shares. The expected Market Capitalization at offer is $3041.94 million. The total offer size is $396.0 million. The offering is managed by Citigroup/Goldman Sachs/BofA Securities/BNP Paribas/Jefferies/HSBC/Societe Generale/Stifel.

Metsera Inc. (Ticker: MTSR) is a clinical biopharmaceutical company developing injectable and oral nutrient-stimulated hormone analog peptides to treat obesity, overweight, and related conditions. Their most advanced product candidate, MET-097i, is a monthly, subcutaneously injectable GLP-1 receptor analog that is being developed for the treatment of obesity.

Metsera Inc. will list on January 31, 2025, on NASDAQ. The firm is selling 17.2 million shares at the price range of $15.00-$17.00. The expected Market Capitalization at offer is $1679.04 million. The total offer size is $275.0 million. The offering is managed by BofA Securities/Goldman Sachs/Evercore ISI/Guggenheim Securities/Cantor.

Infinity Natural Resources (Ticker: INR) is a U.S.-based independent oil and natural gas producer focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin. The company operates in the Utica Shale in Ohio and Pennsylvania and the Marcellus Shale in Pennsylvania, leveraging its company-owned midstream infrastructure. As of June 30, 2024, the company has amassed approximately 90,000 net surface acres and increased its operated horizontal well count to 125, with nine additional wells in progress.

Infinity Natural Resources reported revenues of $221.01 million and net income of $54.5 million for the 12 months ending June 30, 2024. The company plans to list on the NYSE on January 31, 2025. The IPO consists of 13.3 million shares priced in a range of $18.00 to $21.00, targeting proceeds of approximately $258.4 million at the midpoint of the range. The estimated market capitalization at the midpoint is $1.15 billion.

The offering is led by Citigroup, Raymond James, and RBC Capital Markets, with additional participation from BofA Securities, Capital One Securities, Truist Securities, KeyBanc Capital Markets, Stephens Inc., and others. Proceeds from the IPO are intended to support the company’s continued growth and development of its oil and gas assets.

Maze Therapeutics (Ticker: MAZE) is a clinical-stage biopharmaceutical company. The company develops small molecule precision medicines for patients living with renal, cardiovascular, and related metabolic diseases, including obesity. Their Compass platform allows them to identify and characterize genetic variants in disease and link those variants to the biological pathways that drive disease in specific patient groups. Maze Therapeutics is advancing two wholly-owned lead programs, MZE829 and MZE782, for chronic kidney disease (CKD).

Maze Therapeutics will list on January 31, 2025, on NASDAQ. The firm is selling 7.8 million shares at the price range of $15.00-$17.00. The expected Market Capitalization at offer is $685.23 million. The total offer size is $124.8 million. The offering is managed by J.P. Morgan/TD Cowen/Leerink/Guggenheim Securities.

Beta Bionics, Inc. (Ticker: BBNX) is a medical equipment and devices company incorporated in Delaware. The company designs, develops, and commercializes solutions to improve the health and quality of life of insulin-requiring people with diabetes. Their product, the iLet Bionic Pancreas, is an insulin delivery device cleared by the FDA to utilize adaptive closed-loop algorithms to autonomously determine every insulin dose without requiring a user to count carbohydrate intake.

Beta Bionics, Inc. will list on January 30, 2025, on NASDAQ. The firm is selling 10.0 million shares at the price range of $16-17. The expected Market Capitalization at offer is $577.35 million. The total offer size is $165.0 million. The offering is managed by BofA Securities/Piper Sandler/Leerink/Stifel.

Smithfield Foods, Inc. (Ticker: SFD) is a U.S.-based food company specializing in meat products, particularly pork. The company, owned by Hong Kong-based WH Group since 2013, is the largest pork producer in the United States. Smithfield Foods will return to the U.S. stock market, listing on the Nasdaq Global Select Market on January 28, 2025.

The IPO includes 34.8 million shares, split equally between primary and secondary shares, at a price range of $23.00 to $27.00 per share, aiming to raise $939.6 million. A 15% greenshoe option of 5.22 million shares is also available. The offering could value the company at up to $10.73 billion at the top of the range.

The offering is managed by Morgan Stanley (lead underwriter), BNP Paribas, BTIG, Barclays, BofA Securities, Citigroup, Goldman Sachs, HSBC, and Rabo Securities. WH Group plans to reduce its ownership stake in Smithfield to 91.2% following the IPO. The proceeds are intended for investments in infrastructure, automation, and capacity expansion.

IPOX® CEO Josef Schuster noted with Reuters that as the first major consumer IPO of the year, Smithfield’s offering will be closely watched. He stated that the success of this IPO could influence other deals across industries, particularly if it performs well initially.

Ascentage Pharma Group International (Ticker: AAPG) is a China-based biopharmaceutical company focused on discovering, developing, and commercializing therapies for hematological malignancies and other diseases with unmet medical needs.

The company will uplist to the Nasdaq on January 24, 2025, offering 7.325 million American Depositary Shares (ADSs) at $20.34 per ADS, representing a total offering size of approximately $149.0 million. Each ADS represents four ordinary shares. Ascentage Pharma’s ordinary shares have been listed on the Hong Kong Stock Exchange (HKEx) since 2019 under the ticker “6855.” The company’s estimated market capitalization is $1.75 billion.

The offering is managed by J.P. Morgan and Citigroup. Proceeds from the offering will be used to advance clinical trials, pursue regulatory approvals, and support the company’s continued growth and development of therapies for hematological malignancies.

Venture Global, Inc. (Ticker: VG) is a U.S.-based liquefied natural gas (LNG) producer developing five LNG liquefaction and export projects near the Gulf of Mexico in Louisiana. The company’s projects are designed to deliver a total expected peak production capacity of 143.8 million tons per annum (mtpa).

Venture Global will list on the NYSE on January 24, 2025. The company is offering 70.0 million shares at a price range of $23.00 to $27.00 per share, with an estimated offer size of $1.89 billion. The offering includes a 15% greenshoe option of 10.5 million shares. The offering is managed by Goldman Sachs, J.P. Morgan, BofA Securities, ING, RBC Capital Markets, Scotia Capital, Mizuho Securities, Santander, SMBC Nikko, MUFG, and BBVA, with co-managers including Loop Capital Markets, Natixis, and Deutsche Bank.

Flowco Holdings Inc. (Ticker: FLOC) is an oil and gas field machinery equipment company providing production optimization, artificial lift, and methane abatement solutions. The company was formed in 2024 through the merger of Flowco Production Solutions, Estis Compression, and Flogistix, offering technologies such as high-pressure gas lift (HPGL), conventional gas lift, plunger lift, and vapor recovery units (VRU) with integrated digital solutions for real-time remote monitoring.

Flowco Holdings will list on January 16, 2025, on the New York Stock Exchange (NYSE). The company is offering 17.8 million shares at a price range of $21.00 to $23.00. The estimated offering size is $409.4 million, with an expected market capitalization of $1.93 billion. The offering is led by J.P. Morgan, Jefferies, and Piper Sandler, alongside Evercore ISI, BMO Capital Markets, and others.

ServiceTitan (Ticker: TTAN) is a software company specializing in end-to-end, cloud-based solutions for trades businesses. Its platform supports workflows like advertising, scheduling, dispatching, invoicing, and payment processing. ServiceTitan will list on December 12, 2024, on NASDAQ.

The company is offering 8.8 million shares at a revised price range of $65.00 to $67.00, aiming to raise approximately $589.6 million at the midpoint. The expected market capitalization at the offer is $5.95 billion. The offering is managed by Goldman Sachs, Morgan Stanley, Wells Fargo Securities, and Citigroup, with additional co-managers.

Pony AI Inc. (Ticker: PONY) is a developer of autonomous vehicle technology for applications such as robotaxis and robotrucks. The company operates a fleet of autonomous vehicles in China and partners with leading automakers and logistics providers. Pony AI is incorporated in the Cayman Islands.

The company will list on November 27, 2024, on NASDAQ. Pony AI is offering 15 million American Depositary Shares (ADS) at an expected price range of $11.00 to $13.00, aiming to raise $240 million. The expected market capitalization at offer is $1.16 billion. The offering is managed by Goldman Sachs (Asia), BofA Securities, Deutsche Bank Securities, Huatai Securities, and Tiger Brokers.

Brazil Potash Corp. (Ticker: GRO) is a mining and mineral exploration company focusing on potash extraction, with operations centered on the Autazes Project in Amazonas, Brazil. The company aims to reduce Brazil’s dependence on imported potash by developing an underground mine to extract and process potash ore, eventually selling the fertilizer domestically. Brazil Potash Corp., incorporated in Ontario, Canada, has technical operations in Brazil and a corporate office in Toronto.

The IPO on the NYSE is scheduled for November 26, 2024, with the company offering 2.4 million shares at an expected price range of $15.00 to $18.00 per share. The projected market capitalization at the offering is approximately $640 million. The offering, expected to raise around $40 million, is being managed by Cantor, Bradesco BBI, Freedom Capital Markets, and Roth Capital Partners, with Clarksons Securities as co-manager.

Septerna, Inc. (Ticker: SEPN) is a pharmaceutical company focused on developing oral small molecule drugs targeting G protein-coupled receptors (GPCRs) for various therapeutic areas. The company’s lead candidate, SEP-876, is designed to treat hypoparathyroidism (a rare endocrine disorder where the body produces insufficient parathyroid hormone, leading to low calcium levels) and is currently in Phase 1 clinical trials. Septerna also has programs targeting chronic spontaneous urticaria (CSU, a skin condition causing recurring hives and swelling) and other mast cell diseases, as well as Graves' disease (an autoimmune disorder causing hyperthyroidism) and thyroid eye disease (TED, a condition causing inflammation and swelling behind the eyes, often related to Graves' disease).

WeRide Inc. (Ticker: WRD) is a Chinese autonomous driving technology company that develops and operates self-driving vehicles across 30 cities in seven countries, including China, the U.S., the UAE, and Singapore.

The company is set to price its Nasdaq listing on Thursday, with trading expected on Friday, August 16, offering 6.45 million American Depositary Receipts (ADRs) at a price range of $15.50 to $18.50 each. These ADRs represent approximately 2% of WeRide's enlarged share capital.

The IPO, led by Morgan Stanley, JP Morgan, and CICC, aims to raise $119 million, with Germany's Bosch expressing interest in purchasing nearly all the shares, amounting to $100 million. Concurrently, a private placement will raise $320.5 million from investors, including the Renault Nissan Mitsubishi Alliance. WeRide's revenue for the first half of 2024 was $21 million, a decrease of 18% year-over-year, with an adjusted net loss of RMB 316 million ($43.6 million).

Ingram Micro Holding Corp. (Ticker: INGM) is a global technology distributor that provides products and services from over 1,500 vendors to more than 161,000 clients across 57 countries. The company distributes a wide range of technology products, including smartphones, computers, and cloud-based solutions.

Ingram Micro will list on the NYSE on October 24, 2024. The company is offering 18.6 million shares at a price range of $20.00 to $23.00, aiming to raise approximately $399.9 million. The expected market capitalization at offer is $5.06 billion. The offering is managed by Morgan Stanley, Goldman Sachs, and J.P. Morgan, among others. Platinum Equity, the majority shareholder, will retain a 90.8% stake post-IPO.

IPOX® CEO Josef Schuster was interviewed by Reuters on the IPO (Read Here).

Camp4 Therapeutics Corp. (Ticker: CAMP) is a clinical-stage biopharmaceutical company focused on developing RNA-based therapeutics to upregulate gene expression for treating genetic diseases. Its lead product candidate, CMP-CPS-001, aims to be the first disease-modifying therapy for urea cycle disorders (UCDs), a group of severe metabolic diseases. The company is also advancing treatments for SYNGAP1-related disorders using its RAP platform.

Camp4 Therapeutics will list on October 11, 2024, on NASDAQ. The firm is offering 5 million shares at a price range of $14.00 to $16.00. The expected market capitalization at offer is $265.28 million. The total offer size is approximately $75 million. The offering is managed by J.P. Morgan, Leerink Partners, Piper Sandler, and William Blair.

Ceribell Inc. (Ticker: CBLL) is a commercial-stage medical technology company focused on diagnosing and managing serious neurological conditions, particularly seizures. The company developed the Ceribell System, an EEG platform that combines portable hardware with AI-powered algorithms to provide rapid, point-of-care diagnosis and continuous monitoring of patients at risk of seizures in acute care settings. As of June 30, 2024, the Ceribell System has been used in over 100,000 patients across 450 healthcare facilities.

Ceribell will list on October 11, 2024, on NASDAQ. The company is offering 6.7 million shares at a price range of $14.00 to $16.00, with a total offer size of approximately $100.5 million. The expected market capitalization at the offer is $451.69 million. The offering is managed by BofA Securities and J.P. Morgan, with co-managers William Blair, TD Cowen, and Canaccord Genuity.

UpStream Bio Inc. (Ticker: UPB) is a clinical-stage biotechnology company developing treatments for inflammatory diseases, with a focus on severe respiratory disorders such as asthma, chronic rhinosinusitis with nasal polyps (CRSwNP), and chronic obstructive pulmonary disease (COPD). The company’s lead product candidate, verekitug, is a monoclonal antibody targeting the TSLP receptor, which plays a role in inflammatory responses. UpStream Bio plans to advance this drug through Phase 2 trials for asthma and CRSwNP, with additional development planned for COPD.

UpStream Bio will list on October 10, 2024, on NASDAQ. The firm is offering 12.5 million shares at a price range of $15.00 to $17.00. The expected market capitalization at the offer is $781.47 million. The total offer size is estimated at $200 million. The offering is being managed by JPMorgan, TD Cowen, Piper Sandler, and William Blair.

KinderCare Learning Companies, Inc. (Ticker: KLC) is the largest private provider of early childhood education in the United States by center capacity. The company serves children from six weeks to 12 years of age across a network of 1,500 centers and nearly 650 before- and after-school sites in 40 states and the District of Columbia.

KinderCare will list on October 9, 2024, on the NYSE. The firm is offering 24.0 million shares at a price range of $23.00 to $27.00. The expected market capitalization at offer is $2.86 billion. The total offer size is estimated at $600 million. The offering is managed by Goldman Sachs, Morgan Stanley, Barclays, J.P. Morgan, and others.