Commentary & News

Churchill Capital Corp IX, a blank check company founded by dealmaker and former Citi executive Michael Klein, raised $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and and one-quarter of a warrant, exercisable at $11.50. The company is led by CEO and Chairman Michael Klein, the founder and Managing...read more

Sow Good, which makes freeze dried candy, raised $12 million by offering 1.2 million shares at $10, below the last close of its shares on the OTC ($10.98). The company offered 0.3 million more shares than anticipated. Sow Good makes freeze dried candy and snacks. Sow Good began commercializing its products in the first quarter of 2023 and uses an omnichannel strategy primarily...read more

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

Viking Holdings, a global luxury river and ocean cruise line, raised $1.5 billion by offering 64 million shares (83% secondary) at $24, above the midpoint of the range of $21 to $25. A new investor had indicated on $100 million worth of shares in the offering (7% of the deal). The company had originally planned to sell 44 million shares in its IPO (33mm from insiders), before...read more