Group 1: IPO Market Activity - The US IPO market showed high activity this week with 6 companies going public through traditional IPOs and 2 SPACs listing, alongside 13 companies filing for initial public offerings [1][8] - Alliance Laundry Holdings (ALH) raised $826 million with a market cap of $4.5 billion, pricing at the upper limit of its range, and saw a 14% increase in stock price [1][4] - Phoenix Education Partners (PXED) raised $136 million with a market cap of $1.3 billion, pricing at the midpoint of its range, and experienced a 13% stock price increase [1][4] Group 2: SPAC Listings - Two SPACs completed their listings this week: GigCapital8 raised $220 million and Lake Superior Acquisition raised $100 million, focusing on energy, social media, and consumer goods [3][4] - The SPAC market remains active, with several new SPACs filing for IPOs, including Xsolla SPAC 1 and Alussa Energy Acquisition II, both aiming to raise $250 million [5][7] Group 3: Company Performance - One and One Green Tech (YDDL) raised $10 million with a market cap of $27 million, and its stock surged by 31% [2][4] - Turn Therapeutics (TTRX) went public through direct listing but saw a 26% decline in stock price, opening at $10 [3][4] - Leifras (LFS) raised $5 million with a market cap of $10.5 million, but its stock fell by 5% [2][4] Group 4: Upcoming IPOs and Regulatory Changes - 13 companies have filed for IPOs, including BillionToOne and Evommune, each planning to raise $100 million [4][5] - The SEC issued new guidelines allowing companies to announce their pricing range during the IPO process, which may encourage more companies to proceed with listings amid macroeconomic uncertainties [9]

Core Insights - The U.S. IPO market remains active despite government shutdown, with 6 traditional IPOs and 2 SPACs launched this week, alongside 13 companies filing for initial public offerings [1][12]. Group 1: IPO Activity - Alliance Laundry Holdings (ALH) raised $826 million, pricing at the upper limit of its range, achieving a market cap of $4.5 billion, and saw a 14% stock price increase [1]. - Phoenix Education Partners (PXED) raised $136 million, pricing at the midpoint of its range, with a market cap of $1.3 billion and a 13% stock price increase [1]. - Ping An Good Doctor (POM) raised $20 million, pricing at the lower limit of its range, with a market cap of $474 million and a 9% stock price increase [2]. - One and One Green Tech (YDDL) raised $10 million, pricing at the midpoint of its range, achieving a market cap of $27 million and a significant 31% stock price increase [2]. - Leifras (LFS) raised $5 million, pricing at the lower limit of its range, with a market cap of $10.5 million, but experienced a 5% stock price decline [2]. - Turn Therapeutics (TTRX) debuted via direct listing at $10, but saw a 26% decline in stock price [3]. Group 2: SPAC Activity - Two SPACs completed their listings: GigCapital8 (GIWWU) raised $220 million and Lake Superior Acquisition (LKSPU) raised $100 million, focusing on energy, social media, and consumer goods [4]. - Five SPACs filed for IPOs, including Xsolla SPAC 1 (XSOLU.RC) and Alussa Energy Acquisition II (ALUBU), both aiming to raise $250 million [8][10]. Group 3: Upcoming IPOs and Market Trends - 13 companies filed for IPOs, including BillionToOne (BLLN), Evommune (EVMN), and Central Bancompany (CBC), each planning to raise $100 million [6]. - The SEC issued new guidelines allowing companies to announce pricing ranges and set final pricing above the range, which may encourage more companies to proceed with listings amid the government shutdown [12].

Group 1 - Alliance Laundry Holdings (ALH.US) debuted on the New York Stock Exchange with an opening price of $24.50, closing up 12.82% on its IPO day after pricing at $22 per share [1] - The company sold 24.4 million shares directly and 13.2 million shares from existing shareholders, with no proceeds from the latter going to Alliance Laundry [1] - The stock reached a high of $25.24, giving the company a market capitalization exceeding $4.5 billion, slightly above that of competitor Whirlpool (WHR.US) [1] Group 2 - Alliance Laundry is a leading manufacturer of commercial laundry systems, with a 40% market share in North America and a stable position in international markets [2] - For the 12 months ending June 30, the company reported revenues of $1.6 billion and a net profit of $79 million, with a compound annual growth rate (CAGR) of approximately 9.5% since 2010 [2] - Major competitors in the industry include Whirlpool, Samsung (SSNLF.US), LG Electronics, Electrolux AB, Maytag, Kenmore, and General Electric (GE.US) [2] Group 3 - The IPO was managed by a consortium of investment banks including Bank of America Securities, JPMorgan, Morgan Stanley, Baird, BDT & MSD, Montreal Bank Capital Markets, Citigroup, Goldman Sachs, and UBS [2]

Core Viewpoint - Alliance Laundry Holdings (ALH.US) successfully raised $826 million by issuing 37.6 million shares at $22 each, which is at the upper limit of the price range [1] Group 1: Company Overview - Alliance Laundry Holdings, founded in 1908, is headquartered in Ripon, Wisconsin, and operates six factories globally, with three in Wisconsin and others in the Czech Republic, Thailand, and China [2] - The company sells its products through approximately 600 independent dealers worldwide, focusing on commercial laundry systems for various sectors including healthcare, hotels, and public facilities [2] - Alliance Laundry claims a 40% market share in the North American commercial laundry market and holds significant positions in other international markets [2] Group 2: Financial Performance - Since 2010, Alliance Laundry has experienced a compound annual growth rate (CAGR) of 9.5% in revenue, with an adjusted EBITDA margin of approximately 25% [2] Group 3: IPO Details - The company plans to list on the New York Stock Exchange under the ticker symbol ALH, with several major investment banks acting as joint underwriters for the IPO [2] - BDT Capital Partners sold 3.4 million more shares than expected, representing a 35% increase, while the initial stock issuance remained unchanged [1] - New investors, Capital International Investors and Kayne Anderson Rudnick, have committed to $200 million, accounting for 24% of the total transaction [1]

Core Viewpoint - Alliance Laundry Holdings plans to raise up to $751.2 million through an IPO, exceeding its previous target of $500 million, with a proposed share price range of $19 to $22 [1][2] Financial Performance - For the six months ending June 30, Alliance Laundry reported a net profit of $48.3 million and revenue of $836.8 million, compared to a net profit of $67.6 million and revenue of $729 million in the same period last year [2] - The funds raised from the IPO will be used to repay part of its $2.1 billion long-term loan [2] Company Background - Alliance Laundry, founded in 1908 and headquartered in Ripon, Wisconsin, operates six factories globally, with three in Wisconsin and others in the Czech Republic, Thailand, and China [2] - The company sells commercial laundry systems through approximately 600 independent dealers worldwide, serving various sectors including healthcare, hotels, and public facilities [2] Market Position - Alliance Laundry claims a 40% market share in the North American commercial laundry market and has significant positions in other international markets [3] - Since 2010, the company's revenue has grown at a compound annual growth rate of 9.5%, with an adjusted EBITDA margin of approximately 25% [3] IPO Details - The IPO is expected to be priced on October 8, with a total of 34.1 million shares being offered, including 24.4 million shares from Alliance Laundry and 9.76 million shares from BDT & MSD Partners [1] - The offering is led by Bank of America, JPMorgan Chase, and Morgan Stanley, with plans for the stock to be listed on the New York Stock Exchange under the ticker symbol ALH [3]

Core Viewpoint - Alliance Laundry Holdings plans to raise approximately $500 million through an initial public offering (IPO) to expand its commercial laundry business [1] Company Overview - Alliance Laundry Holdings designs and manufactures commercial laundry systems suitable for medical facilities, hotels, laundromats, fire stations, and other public places [1] - The company holds about 40% market share in the North American commercial laundry market and has a significant presence in other international markets [1] - Founded in 1908, the company reported revenue of $1.6 billion for the 12-month period ending June 30, 2025 [1] IPO Details - The company submitted a confidential listing application on June 17, 2025, and plans to list on the New York Stock Exchange under the ticker symbol ALH [1] - The pricing terms for the IPO have not been disclosed [1] - A consortium of underwriters including Bank of America Securities, JPMorgan, Morgan Stanley, and others will manage the offering [1]