IFR US ECM Calendar
September 29: Bit Digital (US, cryptocurrency) ─ $100m 5y cvt marketed at 4%-4.5%, up 25%-30%. BARC, CANT, BRLY. Wall cross.
September 30: Energy Fuels (US, uranium/rare earth minerals miner) ─ $550m 6y cvt marketed at 0.75%-1.25%, up 27.5%-32.5%. GS.
September 30: Fermi (US, hyperscaler power generation) ─ $715m IPO. 32.5m shares (Primary) at $18-$22. UBS, EVER, CANT, MIZU. Dual listing on Nasdaq and LSE under symbol “FRMI”. 5% DSP. Upsized from 25m shares on 9/29.
September 30: Neptune Insurance (US, specialty insurance) ─ $368.4m IPO. 18.4m shares (Secondary) at $18-$20. MS, JPM, BOFA. NYSE “NP”. T Rowe Price and Alliance Bernstein have indicated for $75m combined of the offering.
September 30: Pague Menos (Brazil, pharmacy chain) ─ R$250m ($46.7m) FO. 69.6m (Primary, Secondary) R$3.57 at launch. ITAU, BTG, BRAD, XP. Selling shareholder General Atlantic contributing another 10m shares to the greenshoe.
October 1: Commercial Bancgroup (US, commercial bank) ─ $103.7m IPO. 3.7m shares (Primary, Secondary) at $25.75-$27.75. HOVD. Nasdaq “CBK”. 5% DSP.
October 8: Alliance Laundry (US, laundry systems) – $751.2m IPO. 34.1m shares (Primary, Secondary) at $19-$22. BOFA, JPM. NYSE "ALH". BDT Capital is the selling shareholder. Capital International Investors and Kayne Anderson Rudnick Investment Management have each indicated for $100m ($200m combined) of offering.
October 8: Rockpoint Gas Storage (Canada, natural gas storage) – C$484m ($350m) TSX IPO. 22m shares (Primary) at C$19-$22. RBC, JPM. TSX “RGSI”. Brookfield Asset Management is providing secondary shares for the greenshoe adoption.
New filings*
Beta Technologies (US, EV aircraft) – $100m IPO. Terms TBD (Primary). MS, GS. NYSE “BETA”.
Once Upon a Farm (US, consumer goods) – $100m IPO. (Primary, Secondary). GS, JPM, BOFA, WBLR. NYSE “OFRM”.
Wealthfront (US, fintech) ─ $250m IPO. (Primary, Secondary). GS, JPM. Nasdaq “WLTH”.
*IPO proceeds targets are estimated placeholder amounts.