UBS(US:UBS) Insurance Journal·2025-10-21 05:12Core Insights - Companies are pursuing unconventional IPO plans despite the ongoing government shutdown, surprising many on Wall Street [1][3] Group 1: IPO Activity - Travel software startup Navan Inc. and electric plane-maker Beta Technologies Inc. are two candidates for IPOs before the Thanksgiving holiday, highlighting the growing popularity of a 20-day marketing period [2][3] - IPO activity during the shutdown has exceeded expectations, with some companies opting for earlier listings due to fatigue with the IPO process [4] - US IPOs have raised $34.7 billion through October 17, 2024, already surpassing the total raised in all of 2024 [7] Group 2: Company-Specific Details - Navan plans to market its IPO with a price range of $24 to $26, aiming to raise up to $960 million, with some proceeds allocated to repay outstanding debt [4] - Beta Technologies reported less than $20 million in revenue for the first half of the year, with net losses increasing to $183 million, but has secured five cornerstone investors for up to $300 million of a potential $825 million raise [5] Group 3: Market Conditions and Future Outlook - The current favorable market conditions are motivating companies to proceed with IPOs despite uncertainties, as the window for listings narrows between Thanksgiving and Christmas [10][11] - There is speculation that if the government shutdown ends, a busy period for IPOs could occur at the end of October, with many companies looking to debut in early November [10]