Today's Investment Banking Pulse
SpaceX debuts at $150 a share, marking the largest U.S. IPO ever
SpaceX opened at $150 per share on its historic debut, valuing the rocket maker at roughly $1.75 trillion and raising about $86 billion. The underwriters' fee pool is projected at $646 million, with Goldman Sachs serving as lead left underwriter. The offering pushed Elon Musk’s net worth past $1 trillion.
SpaceX Is Reportedly Getting Ready to Go Public as Early as June
SpaceX is accelerating its initial public offering, aiming for a Nasdaq debut as early as June 12, with a roadshow slated to start June 4 and a share sale by June 11. The company hopes to raise up to $75 billion, targeting a $1.75 trillion valuation, while BlackRock is rumored to consider a $5‑10 billion investment. Recent strategic moves—including a plan for a million‑satellite data constellation, a shift toward building a lunar city, and the acquisition of Musk’s xAI—are bolstering the lofty valuation. The rapid timeline reflects strong market appetite for high‑growth space and AI assets.
GIP‑EQT Consortium Offers $15 Bn Cash Deal to Acquire AES, Premium Over 35%
GIP and EQT have announced a cash offer of $15 per AES share, valuing the U.S. power producer at roughly $15 bn. The deal, backed by $10.69 bn of equity and debt commitments, requires shareholder approval and regulatory clearances before the company...
Vista Equity Partners Opens Abu Dhabi Office, Boosting Middle East Tech Investment
Vista Equity Partners has opened a new Abu Dhabi office within the Abu Dhabi Global Market (ADGM), gaining full regulatory authorization to advise on and arrange technology investments across the region. The move underscores rising Middle Eastern demand for enterprise‑software...
Aditya Birla Group to Invest ₹4,730 Crore in Vodafone Idea
Aditya Birla Group announced a $500 million equity infusion into Vodafone Idea (Vi) through fully convertible warrants worth ₹4,730 crore. The move brings the group’s cumulative investment in Vi to roughly $3.3 billion, underscoring its commitment to the distressed telecom operator. The infusion follows a...
Gemini Space Station Lands $100 Million From Winklevoss Twins, Stock Surges 21%
Gemini Space Station announced a $100 million strategic investment from Winklevoss Capital Fund at $14 per share, propelling the company's shares 21% higher. The infusion underscores a growing trend of private‑equity‑style capital flowing into crypto‑focused ventures amid heightened market volatility.
IDBI Bank to Raise up to ₹10,000 Crore via Long-Term Rupee Bonds in FY27
IDBI Bank’s board approved a private‑placement of up to ₹10,000 crore (≈ $1.2 bn) in long‑term rupee bonds to be issued by March 2027. The move follows a 16% YoY rise in net advances to ₹2.54 trn (≈ $30.5 bn) and a 12% YoY increase in deposits...
Elon Musk Says He Isn’t Selling His SpaceX Shares as IPO Looms
Elon Musk told followers on X that he will not sell any of his SpaceX shares as the company prepares to file for an initial public offering as early as next week. Bloomberg reports that SpaceX is targeting a valuation...
Anthropic Nears $900 B Valuation in $30 B Funding Round, Overtaking OpenAI
Anthropic is reportedly negotiating a $30 billion financing round that would value the company at roughly $900 billion, overtaking OpenAI’s $852 billion mark. The rapid surge reflects explosive enterprise demand for its Claude models and signals a new scale‑up phase for frontier AI...
NextEra Energy Is Said to Be in Talks to Acquire Dominion
NextEra Energy is reportedly in talks to acquire Dominion Energy in a primarily stock transaction. The deal is designed to expand capacity for the surging electricity demand from data centers. Talks are at an early stage, with a potential announcement...
NextEra and Dominion in Talks over Tie-Up to Create $400bn US Utility Giant
U.S. power giants NextEra Energy and Dominion Energy are in advanced talks to combine their operations, potentially forming a utility company worth roughly $400 billion. The proposed tie‑up would merge NextEra’s renewable‑focused generation portfolio with Dominion’s extensive transmission and regulated assets,...
Verizon Raises $4 B with First U.S. Hybrid Bond Offering
Verizon Communications launched a $4 billion inaugural U.S. hybrid bond offering, issuing $2 billion of 6.05% notes due 2058 and $2 billion of 6.2% notes due 2056. The deal was priced on May 11, 2026, closed three days later, and was underwritten by Goldman...
Iron Dome Acquisition I Prices $150 M IPO at $10 per Share, Targeting B2B Defense Buyers
Iron Dome Acquisition I Corp. announced a $150 million IPO of 15 million units at $10 each, with proceeds earmarked for a search for a business‑combination target in the B2B defense market. The offering includes Class A shares and redeemable warrants and will...
Cerebras IPO Raises $5.55 Bn, Shares Nearly Double as Analysts Scrutinize Valuation
Cerebras Systems closed its U.S. IPO at $185 per share, raising $5.55 bn and becoming 20‑times oversubscribed. The stock surged nearly 100% from the IPO price, prompting a split among analysts over whether the valuation is justified amid soaring AI‑chip demand.
Siemens to Buy MERMEC Core Rail Tech Assets for €1.2 Bn, Boosting Digital Rail Portfolio
Siemens Mobility announced an agreement to acquire the core rail‑technology businesses of Italy’s MERMEC for an estimated €1.2 bn ($1.40 bn). The deal promises mid‑term revenue synergies of more than €400 m ($466 m) a year and gives Siemens a stronger foothold in Italy’s...
METiS TechBio IPO Raises $270 M, Debuts as First Public AI‑Powered Drug Delivery Firm
METiS TechBio listed on the Hong Kong Stock Exchange, raising HK$2.11 billion ($269.5 million) and becoming the world’s first publicly listed AI‑powered drug‑delivery company. The offering was oversubscribed more than 6,900 times, propelling the stock 173% higher on debut and drawing a...
Hotel Renovation Locks In $103M: The Los Angeles Deal Sheet
National Core secured a $103 million financing package to redevelop the Ontario Airport Hotel and Conference Center into a 295‑room Hyatt Regency. The capital structure blends $26 million in tax‑exempt C‑PACE bonds with $77 million in tax‑exempt mortgage revenue bonds, underwritten by J.P. Morgan...
Cerebras Systems Raises $5.55 B in Record AI‑Chip IPO, Valued at $56 B
Cerebras Systems completed an upsized initial public offering that raised $5.55 billion, giving the company a fully‑diluted market value of $56.43 billion. The Sunnyvale‑based wafer‑scale chip designer listed on Nasdaq under the ticker CBRS, marking the largest AI‑chip IPO of the year...
What You Need to Know About Nvidia Competitor Cerebras After Wild IPO
Cerebras Systems went public with a market value just under $100 billion, making it one of the largest tech IPOs ever. The company’s flagship WSE‑3 ASIC, a dinner‑plate‑sized chip built on TSMC’s 5‑nanometer process, is marketed for high‑speed AI inference. Cerebras...
WIRobotics Secures $68 Million Series B to Accelerate Humanoid Robot Commercialization
WIRobotics announced a KRW 95 billion ($68 million) Series B round led by JB Investment, bolstering its push to commercialize the ALLEX humanoid platform. The funding follows rapid growth of its wearable robot WIM, which has sold over 3,000 units and more...
Exyn Technologies Raises $19.4 Million in IPO, Pricing at $7.75 per Share
Exyn Technologies announced the pricing of its initial public offering on May 15, selling 2.5 million units at $7.75 each for gross proceeds of about $19.4 million. The capital will back growth initiatives for its autonomous robotics solutions aimed at enterprise customers,...
Houlihan Lokey’s One Conference Plays Deals Matchmaker
At an investment‑banking conference in New York, Houlihan Lokey highlighted its One Conference platform, positioning it as a real‑time matchmaker for mid‑market deals. The event also spotlighted a high‑profile AI chip IPO projected to raise roughly $1.2 billion, drawing significant investor...
Broadridge Opens Glasgow Hub to Boost BPO Services for Global Banks
Broadridge Financial Solutions announced the launch of a new BPO hub in Glasgow, Scotland, to serve global banks and an anchor investment‑bank client. The center adds a near‑shore delivery option that leverages local talent and regulatory proximity, aiming to improve...
City Sounds Alarm on £40bn Foreign M&A Offensive Targeting ‘Cheap’ UK Firms
A wave of foreign take‑private bids has targeted UK‑listed firms worth about $51 billion this year, pushing the total value of offers above $55 billion. High‑profile deals include a $3.4 billion offer for Tate & Lyle by US ingredient maker Ingredion and EQT’s $13.5 billion...
Cerebras IPO Surge Collapses—Sell, Not Buy
Cerebras (CBRS) priced Wed at $185 (already 50%+ above its first marketed range), opened Thu at $350, hit $386, closed $311. Today, day two: $294, intraday low $275. The same IPO that gave it a $100B paper market cap on...
Newcore Announces Upsized $15 Million Bought Deal
Newcore Gold Ltd. announced an upsized $15 million bought‑deal financing, increasing the offering from $10 million to 28.3 million common shares priced at C$0.53 each, with closing expected by May 28, 2025. The proceeds will fund exploration and development of the Enchi Gold Project in...
Debt Buybacks Boost Credit but Rating Stays Junk
Using preferred and equity issuance to raise cash to buy back corporate debt is positive for the credit and for its credit rating. A credit rating is good for one thing. New issuance of debt. Iirc S&P global already...
Seraya Partners Considers Sale, IPO for Offshore Wind Firm Cyan Renewables
Singapore‑based private equity firm Seraya Partners is exploring a dual‑track process for its offshore wind services subsidiary Cyan Renewables, weighing a sale or an initial public offering. The marine‑energy operator, valued at up to $2 billion, generates more than $100 million in...
Mahanadi Coalfields Gets Govt Nod for IPO; Coal India to Dilute up to 25% Stake
The Indian government has cleared the proposal to list Mahanadi Coalfields Limited (MCL) via an IPO, allowing Coal India Limited (CIL) to dilute up to 25% of its stake. The approval enables CIL to sell shares through an offer‑for‑sale and...
Catalyst IR Handles Mobix's Potential Deal for SPD
Mobix Labs, represented by Catalyst IR, has signed a non‑binding letter of intent to acquire Special Project Delivery LLC (SPD), a privately held platform with holdings in U.S. rare‑earth properties. The proposed transaction aims to bolster Mobix’s ability to supply...
Brookfield to Acquire World Freight Company in $1.2 Billion Deal
Brookfield Asset Management announced an agreement to acquire World Freight Company for an enterprise value of about $1.2 billion from EQT and PAI Partners. The deal, expected to close by the end of 2026, gives Brookfield a platform that serves more...
Iridium to Acquire Aireon for $366.7 Million, Expanding Satellite Connectivity
Iridium Communications announced a $366.7 million deal to acquire the remaining 61% of Aireon, bringing the sole space‑based ADS‑B surveillance system fully under its control. The transaction, split into two equal payments, positions Iridium to bundle air‑traffic data with its satellite...
Morgan Stanley Warns "Capex Over Consumption" As AI Drives US Growth
Morgan Stanley’s mid‑year US outlook, released May 12, declares a "Capex Over Consumption" economy, projecting 2.3% real GDP growth in 2026 while consumer spending slows to 1.8%. The bank highlights AI‑related capital spending—$805 bn from the five largest hyperscalers in 2026—as the...
Genco Shipping in Fresh Rejection of Takeover Offer From Diana
Genco Shipping & Trading's board unanimously rejected Diana Shipping's $23.50‑per‑share takeover bid for the second time in two months. The offer, revived on May 4 as a direct tender to shareholders, mirrors the March proposal that was also turned down. Advising...
IQM’s $1.8 B SPAC Deal Highlights Quantum’s Long Road to Commercial Scale
Finland‑based IQM Quantum Computers filed a Form F‑4 to merge with SPAC Real Asset Acquisition Corp., valuing the firm at roughly $1.8 billion and promising $465 million in cash. The move, alongside QSE’s launch of an enterprise post‑quantum migration platform, illustrates both the...
SpaceX Stock: Should You Buy the Biggest IPO Ever?
The global space economy is projected to reach roughly $1 trillion by 2034, according to market‑research firm Novaspace. SpaceX’s latest internal valuation sits between $1.75 trillion and $2 trillion, positioning it far above any recent public offering. At that valuation, an IPO could...
Trump Media CEO Launches Latin America-Focused SPAC
New CEO of Trump Media launches a SPAC focused on "Latin America and Venezuela." I'll just let that sit there... https://t.co/v67LqFZlqb
USA Rare Earth Posts $67 M Loss but Secures $1.6 B US Funding and Brazil Acquisition
USA Rare Earth (USAR) posted a $67 million net loss for Q1 2026 but ended the quarter with $1.75 billion in cash after a $1.5 billion private placement. The company also announced a $300 million acquisition of Brazil’s Serra Verde Group and a pending...
Patriot Acquisition Corp. (PTACU) Prices Downsized $160M IPO
Patriot Acquisition Corp. (NASDAQ:PTACU) priced a downsized $160 million initial public offering and will begin trading on Nasdaq under the ticker PTACU on May 15, 2026. The SPAC, led by CEO Jack Kopnisky and CFO Thomas Cestare, aims to merge with a specialty‑finance company. The...
Secondaries Volume Down Year-on-Year in Q1, but Remains ‘Resilient’: PJT Partners
Private secondaries market volume slipped 11% YoY to about $40 bn in Q1 2026, according to PJT Partners. Despite the dip, GP‑led transactions continued to dominate, accounting for roughly 55% of activity, while LP‑led deals held steady at $18 bn. Continuation vehicles...
Bullish to Acquire UK Payments Firm Equiniti in $4.2 B Deal
Bullish (BLSH) announced a $4.2 billion acquisition of UK payments and transfer‑agent specialist Equiniti, combining $2.35 billion of newly issued shares with $1.85 billion of assumed debt. The deal creates an end‑to‑end tokenization platform that could redefine how public‑company equity is issued and...
Byron Allen’s $120 M Takeover of BuzzFeed Aims to Build a Global Free Streaming Service
Byron Allen is paying $20 million in cash and a $100 million promissory note to acquire a 52% stake in BuzzFeed, becoming its chairman and CEO. He plans to fuse BuzzFeed and HuffPost with his Local Now platform to launch a free, ad‑supported...
Exclusive: Scripbox Plans Rs 170 Cr Debt and Equity Raise; Gears up for IPO
Bengaluru‑based wealth‑tech platform Scripbox announced plans to raise up to Rs 170 cr (≈$20 million) through a mix of equity and debt. The equity tranche of Rs 60 cr (≈$7.2 million) will come from friends‑and‑family investors, while Rs 110 cr (≈$13.3 million) of debt is earmarked to finance the...
American Express Acquires Expense Management Company Hyper
American Express has completed the acquisition of Hyper, a cloud‑based expense‑management platform known for automated receipt capture and policy‑driven workflows. The deal is positioned to fuse Hyper’s spend‑tracking capabilities with AmEx’s corporate‑card ecosystem, creating a unified end‑to‑end solution for enterprise...
PowerGEM Secures Growth Capital From General Atlantic and Acquires Telos Energy
PowerGEM, a 26‑year‑old grid‑simulation software firm, announced a strategic growth investment from General Atlantic’s BeyondNetZero fund and the purchase of engineering consultancy Telos Energy. The capital boost and acquisition aim to accelerate PowerGEM’s AI‑driven platform for grid reliability and market...
Rithm Capital Raises $500M via 8.5% Senior Notes to Fund Real Estate Expansion
Rithm Capital Corp. priced a $500 million senior unsecured note offering with an 8.5% coupon, due in 2031. The proceeds will support general corporate purposes, including debt repayment after a series of high‑profile real‑estate acquisitions. The deal underscores robust appetite for...
Aveanna Expects ‘Zero Impact’ From Home Health Moratorium
Aveanna Healthcare Holdings announced that the recent Medicare enrollment moratorium for home health and hospice will have "zero impact" on its operations and financial guidance. The company is progressing toward closing its $175.5 million acquisition of Family First Homecare in late...
Biogen Seals $5.3 B Deal for Apellis, Adds Two Blockbuster Drugs
Biogen closed a $5.3 billion cash acquisition of Apellis Pharmaceuticals on May 14, 2026, bringing the complement‑driven therapies EMPAVELI and SYFOVRE into its portfolio. The transaction was financed with a new $2 billion unsecured term loan and includes a contingent value right...
Blackstone Digital Infrastructure Trust Prices $1.75 B Data‑Center REIT IPO at $20 per Share
Blackstone Digital Infrastructure Trust, a newly formed REIT focused on hyperscale data centers, priced its initial public offering at $20 per share, raising $1.75 billion. The deal, backed by a slate of 18 joint bookrunners, includes a 1% bonus‑share incentive that...
SpaceX $75B Initial Public Offering (IPO) May Need Big Positive Impact From Starship Flight 12 : Analysis
SpaceX is positioning a $1.75‑$2 trillion IPO, with the upcoming Starship Flight 12 serving as a critical proof point. The test, scheduled for no earlier than May 19 from Texas’s Orbital Launch Pad 2, will be the first flight of the V3 Starship, featuring...
Cerebras Risked It All on Dinner Plate-Sized AI Accelerators a Decade Ago. Today It’s Worth $66 Billion
Cerebras Systems completed a blockbuster IPO on Thursday, raising $5.55 billion and debuting with a market valuation exceeding $66 billion. The company’s wafer‑scale engines—giant chips the size of a dinner plate—have evolved from the first‑gen WSE to the current WSE‑3, delivering up...