Group 1: Andersen Group IPO - Andersen Group priced its IPO at $16 per share, at the high end of the previously set range of $14 to $16 [1] - The company raised $176 million by issuing 11 million shares, resulting in a fully diluted market capitalization of $1.9 billion [1] - Andersen Group, founded in 2002, provides independent tax, valuation, and financial consulting services to over 11,900 clients across the U.S. [2] - The company is a member of Andersen Global, which consists of over 300 member firms and partners [2] - Andersen Group is listed on the New York Stock Exchange under the ticker symbol ANDG, with several investment banks acting as joint bookrunners for the transaction [2] Group 2: Iron Horse Acquisition II IPO - Iron Horse Acquisition II, a SPAC focused on media and entertainment, completed its IPO by raising $200 million through the issuance of 20 million units priced at $10 each [3] - The initial plan was to issue 25 million units, but the final structure included 1 share of common stock and 1 warrant per unit [3][4] - The company is led by CEO Jose Bengochea, who is also the founder of Bengochea Capital, and aims to focus on sectors like music, animation, and artificial intelligence [3] Group 3: Churchill Capital XI IPO - Churchill Capital XI, a SPAC founded by Michael Klein, raised $360 million by issuing 36 million units at $10 each, exceeding its initial expectations by 6 million units [6] - Each unit consists of 1 share of common stock and a warrant with an exercise price of $11.50 [6] - The company is focused on acquiring businesses that generate stable free cash flow and have strong management teams [7] - Churchill Capital XI is listed on NASDAQ under the ticker symbol CCXIU, with Citigroup serving as the sole bookrunner for the transaction [8] Group 4: Spectre Acquisition IPO - Spectre Acquisition, led by Chinese executives, filed for an IPO to raise up to $60 million by issuing 6 million units at $10 each [9] - Each unit includes 1 share of common stock and a full warrant with an exercise price of $11.50 [9] - The SPAC plans to target companies outside mainland China that possess key technologies and strong competitive positions [9]

回顾：上周10只新股上市，其中9只募资规模过亿美元。 JM Group(JMG)以每股4美元，发行了375万股，募集了1500万美元。 Wealthfront (WLTH)以每股14美元，发行了3462万股，募集资金4.85亿美元。 Lumexa Imaging Holdings(LMRI)以每股18.5美元，发行了2500万股，募集了4.63亿美元。 Cardinal Infrastructure (CDNL)以每股21美元，发行了1150万股，募集了2.42亿美元。 SPAC Bluerock Acquisition(BLRKU)、carbon Capital Partner(KBONU)、Meshflow Acquisition (MESHU)、Daedalus Special Acquisition (DSACU)、 ITHAX Acquisition III (ITHAU)、Twelve Seas III (TWLVU)分别募集了1.5亿美元、3亿美元、3亿美元、2.25亿美元、2亿美元、1.5亿美元。 此外，12家公司递交招股书，含1家中企——栢威医药(AED)，详情请见：快讯丨3只新股在美上市 ...

Core Insights - The U.S. IPO market saw four companies go public and six SPACs listed last week, with eight companies filing for IPOs and four for SPACs [1][4]. Group 1: IPO Highlights - Wealthfront (WLTH) priced at the upper end of its range, raising $485 million with a market cap of $2.6 billion, targeting young "digital-first" customers and boasting over 1.3 million paying clients and $88.2 billion in assets by July 2025 [1]. - Lumexa (LMRI) raised $463 million with a market cap of $1.8 billion, operating 184 outpatient imaging centers across 13 states, and has a high leverage ratio of 3.7 times [2]. - Cardinal Infrastructure (CDNL) raised $242 million with a market cap of $769 million, focusing on utility installation services in the Southeastern U.S. with a backlog valued at $646 million [3]. - JM Group (JMG) raised $15 million with a market cap of $79 million, specializing in merchandise sourcing for various retail categories [3]. Group 2: SPAC Highlights - Six SPACs completed pricing last week, including Meshflow Acquisition (MESHU) and Karbon Capital Partners (KBONU), each raising $300 million targeting blockchain infrastructure and energy sectors respectively [4]. - Other SPACs included Daedalus Special Acquisition (DSACU) raising $225 million for consumer-facing AI and technology, and Twelve Seas III (TWLVU) raising $150 million for investments in oil and gas companies outside the U.S. [4]. Group 3: Upcoming IPOs - Medline (MDLN) plans to raise $5 billion at a market cap of $37.3 billion, focusing on medical supplies distribution, facing recent tariff pressures [8]. - Andersen (ANDG) aims to raise $165 million at a market cap of $1.74 billion, providing tax and advisory services with a 15% CAGR since 2003 [8].

Core Viewpoint - Andersen Group has filed for an IPO to raise up to $100 million, marking a significant step for the company founded by former Arthur Andersen leaders [1] Company Overview - Founded in 2002, Andersen Group provides independent tax, valuation, and financial consulting services to individuals, family offices, corporations, and institutional clients [1] - The company is headquartered in San Francisco, California, and operates globally [1] Financial Performance - As of June 30, 2025, Andersen Group served over 11,300 clients in the U.S., reflecting a year-over-year growth of 9% [1] - The company reported revenues of $774 million for the 12 months ending June 30, 2025 [1] IPO Details - The company plans to list on the New York Stock Exchange under the ticker symbol "ANDG" [1] - The IPO application was submitted confidentially on April 25, 2025, with pricing terms yet to be disclosed [1] - The underwriting syndicate for the IPO includes Morgan Stanley, UBS Investment Bank, Deutsche Bank, Truist Securities, and Wells Fargo Securities [1]