The company, which is developing electrical-nerve stimulation therapies for children, went public this month at an initial price of $6 a share—lower than the range of $7 to $9 a share it announced in February.
The rebound in IPOs is being fueled by a stock market rally that has the S&P 500 up about 19% so far this year, a sharp reversal from last year’s 19.4% loss.
Officials of the two-year-old firm that provides professional services in the health care and life science industries expect the offering to raise up to $8 million.
In April 2022, Cummins announced plans to spin off the business, then known as Cummins Filtration, which provides filtration products for trucks, off-highway industrial equipment and power generation systems.
Spinoff Atmus Filtration Technologies was originally founded in 1958 as the Seymour Filtration Co., based in Seymour, Indiana, with a single filter production line to support Cummins diesel engines.
Neuraxis Inc., based in Versailles and with an office in Carmel, said it will use the proceeds to ramp up its sales and marketing efforts, along with research and development and other functions.
Columbus-based Cummins has confidentially filed paperwork with the Securities and Exchange Commission for an initial public offering for its filtration business. Cummins announced last summer that it was looking at “strategic alternatives” for the business.
Novus Capital Corp. II announced in September it would merge with Energy Vault in a deal that would take the 4-year-old company public. The transaction gives Energy Vault an immediate cash infusion of $355 million.
Andretti Acquisition Corp. is a special purpose acquisition company, often referred to as a SPAC or blank-check company, that “seeks to focus on opportunities that can benefit from the iconic Andretti brand name.”
A blank-check company, or SPAC, plans to close early next year on a merger with California-based Energy Vault that will take the company public and give it a cash infusion of $388 million.
Indianapolis-based Allison, which recently formed a partnership with Beijing-based Jing-Jin Electric, announced Wednesday that it will participate in Jing-Jin’s upcoming initial public offering.
Not only are fewer SPACs going public through IPOs, the ones already in the market and still hunting for targets have seen their share prices drop.
Bradley Bostic is aiming to raise the funds through a new “blank check company,” called Future Health ESG, that will hold its initial public offering in coming weeks.
Indianapolis-based Simon Property Group Inc. is among Authentic Brands Group’s largest shareholders.
Apria Inc., one of the nation’s largest providers of home health equipment and services, began listing shares Thursday morning on the Nasdaq exchange.
Novus Capital Corp. II raised $250 million, capital it plans to plow into the purchase of a company or companies in the “smart technology innovations” market.
Simon Property Chairman and CEO David Simon will serve as chairman of the special purpose acquisition company. His 33-year-old son, Eli Simon, senior vice president of corporate investments at Simon Property, will be its CEO.
A nontraditional way to take companies public is booming on Wall Street, leading to an unprecedented explosion of deals.
AppHarvest—an indoor farming company backed by Indianapolis-based Novus Capital Corp. and celebrity Martha Stewart—thinks the agriculture sector is ripe for disruption. And now, its tomatoes are ripe for eating.
It’s the third time Petco has gone public since it was founded in 1965 as a mail-order veterinary supplies business. Both times Petco was bought and taken private, most recently in 2006.
