Recently Priced IPOs

Company Ticker Offer Date Deal Size (M) Current Price Today's Change Return from IPO
Real Asset Acquisition RAAQU 04/04/25 $10 $2.90 $ -0.01 (-0.23%) -23.3%
Real Asset Acquisition RAAQU 04/04/25 $10 $2.90 $ -0.01 (-0.23%) -23.3%
Real Asset Acquisition RAAQU 04/04/25 $8 $2.73 $ -0.01 (-0.11%) -15.2%
Real Asset Acquisition RAAQU 04/04/25 $8 $2.70 $ -0.01 (-0.07%) -21.7%
Real Asset Acquisition RAAQU 04/04/25 $10 $2.73 $ -0.01 (-0.15%) -21.7%
Real Asset Acquisition RAAQU 04/04/25 $10 $2.90 $ -0.01 (-0.11%) -23.3%

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Learn More about recently priced IPOs

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Choosing Underwriters

The process begins well before trading starts. Companies appoint underwriters—typically investment banks—to lead the offering. These underwriters assess the company’s financials, market positioning, and growth potential, and begin shaping a strategy to present the opportunity to investors. They also manage institutional outreach and ultimately help determine who gets shares.

Establishing a Price Range

Once foundational analysis is complete, the company and its underwriters agree on an initial price range. This is informed by comparable public companies, revenue projections, industry trends, and broader market sentiment. The price range sets investor expectations and becomes the framework for the roadshow.

The Roadshow: Gathering Market Feedback

Executives and bankers then present the company’s story to institutional investors through a roadshow. These meetings provide a first look at investor demand. If the company is well-received, the price range might be revised upward. If there’s hesitation, the range could be narrowed or lowered. Strong interest often results in a pricing at the top—or above—the initial range.

Finalizing the Offer Price

The final price is typically set the evening before trading begins. It reflects investor orders, demand levels, market conditions, and the company’s capital goals. The aim is to price shares attractively enough to encourage early trading momentum, while still securing meaningful proceeds for the company or existing shareholders.

What Shapes the Final IPO Price?

A number of factors influence where the IPO is ultimately priced:

Company performance and financial strength
Valuations of peer companies
Recent IPO performance across the market
Investor appetite and macroeconomic trends
Sector-specific interest or caution