Sail on: SailPoint (SAIL Proposed), an identity security software company, leads this week’sIPO Calendarof about $2.0 billion in deals in the countdown to Valentine’s Day on Friday, Feb. 14, 2025. SailPoint increased its price range to $21.00 to $23.00 – up from $19.00 to $21.00 originally – in an SEC filing early today – Tuesday, Feb. 11, 2025. The Austin, Texas-based software company kept the number of shares at 50.0 million, according to the filing. SailPoint’s IPO would raise $1.1 billion, if the deal is priced at the $22.00 mid-point of its new price range. SailPoint’s IPO is the first big tech deal – and the first big software IPO – of the year.
SailPoint’s IPO – led by Morgan Stanley and Goldman Sachs – is expected to price Wednesday night, Feb. 12, to trade Thursday, Feb. 13, on the NASDAQ.
This week’s IPO action got under way on Monday night, Feb. 10, 2025, with the pricing of a big SPAC IPO.Archimedes Tech SPAC Partners II (ATIIU) raised $200.0 million by pricing 20.0 million units at $10.00 each. Each unit consists of one ordinary share and one-half of one redeemable warrant. This IPO is expected to start trading today – Tuesday, Feb. 11 – on the NASDAQ. BTIG was the sole book-runner.
Odysight.AI (ODYS),an Israeli company, priced its small public offering – a NASDAQ uplisting deal – on Monday night, Feb. 10, 2025. Odysight.AI increased its public offering’s size to 3.3 million shares – up from 2.53 million in the prospectus – and priced the offering at $6.50 – $2.00 below its assumed price – to raise $21.5 million. Odysight.AI shares, previously listed on the OTCQB, are expected to start trading today – Tuesday, Feb. 11 – on the NASDAQ. The Benchmark Company was the sole book-runner.
In addition to SailPoint, this week’s IPO Calendarincludes three other sizable IPOs:
Karman Holdings (KRMNProposed), an aerospace and defense contractor, is offering 21.1 million shares at a price range of $18.00 to $20.00 to raise $400.0 million, in a deal led by Citigroup with Evercore ISI, RBC Capital Markets and William Blair as joint book-runners. Karman’s IPO is expected to price Wednesday night, Feb. 12, to trade Thursday, Feb. 13, on the NYSE;
Aardvark Therapeutics (AARDProposed), a biotech developing an anti-obesity drug, is offering 5.91 million shares at a price range of $16.00 to $18.00 to raise $100.1 million, in a deal led by Morgan Stanley and BofA Securities with Cantor and RBC Capital Markets as joint book-runners. Aardvark Therapeutics’ IPO is set to price Thursday night, Feb. 13, to trade Friday, Feb. 14, 2025, on the NASDAQ.
Northpointe Bancshares (NPB Proposed), a bank holding company based in Grand Rapids, Michigan, is offering 8.8 million shares at a price range of $16.00 to $18.00 to raise $150.0 million, in a deal run by Keefe, Bruyette & Woods, also known as KBW (a Stifel company), a specialist in bank offerings, with Piper Sandler and Janney Montgomery Scott as the co-managers. Northpointe Bancshares’ IPO – launched last week on Friday, Feb. 7 – is expected to price Thursday night, Feb. 13, to trade Friday, Feb. 14, 2025, on the NYSE.
Three small IPOs round out this week’s IPO Calendar:
Aureus Greenway (AGH Proposed), a Florida company that owns and runs two public golf country clubs, plans to raise about $18.8 million in an IPO led by Dominari Securities with Revere Securities; pricing set for tonight – Tuesday, Feb. 11; NASDAQ listing
LZ Technology Holdings (LZMH Proposed), a Chinese holding company whose operating subsidiaries offer multi-channel advertising services in China, aims to raise $9.0 million in an IPO with Benjamin Securities and D. Boral Capital (formerly EF Hutton) as the joint book-runners; pricing expected Thursday night, Feb. 13, 2025; NASDAQ listing
Micropolis Holding Co. (MCRP Proposed), a holding company based in Dubai, United Arab Emirates (UAE), whose operating subsidiary, Micropolis Dubai, is developing autonomous mobile robots (“AMRs”), intends to raise $22.5 million in an IPO with Network 1 Financial as the sole book-runner; pricing tentatively expected Thursday night, Feb. 13, 2025; NYSE listing.
Stay tuned.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
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Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.
