IPOs & Deals
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All IPOs & Deals coverage
John Marshall Bancorp's First Acquisition Is a $253 Million All-Stock Merger With Bank of Clarke Parent Eagle Financial Services
A fixed 2.0 exchange ratio implied $46.72 an Eagle share and an 11.5% premium when the deal was struck, and would create a $4.4 billion-asset Virginia lender with 23 offices. Neither company disclosed cost savings, earnings accretion or tangible book value dilution.
Axogen agrees to buy nerve-repair device maker BioCircuit for $200 million cash, pricing a $208.7 million stock sale the same morning to fund it
The peripheral-nerve company said Thursday it will pay $200 million in cash for privately held BioCircuit Technologies, maker of the sutureless NerveTape device, with closing expected in the fourth quarter. One minute later, in a separate 6:01 a.m. ET release, it said it had priced 4,910,000 new shares at $42.50 — its second equity raise of 2026 — and that substantially all the net proceeds would fund the purchase price.
LifeStance prices 22.25 million-share secondary offering at $12.35
The outpatient mental health provider receives none of the proceeds but has agreed to buy 2 million shares back from the underwriter. The price sits 76% above the level of a February sell-down by sponsors TPG and Summit Partners.
Intellia Lines Up as Much as $400 Million From OrbiMed, but Only $75 Million Is Funded Today
The senior secured term loan releases $225 million in five tranches tied largely to lonvo-z milestones and another $100 million only by mutual agreement. Intellia held $628.4 million in cash at June 30 and burned $106.6 million in the second quarter.
Diversified Energy Agrees to Buy Birch Permian From Elliott Affiliates for About $1.8 Billion
The Birmingham, Alabama producer says the deal is the largest in its 25-year history and would lift production roughly 35%. It is being funded chiefly with a $1.5 billion asset-backed securitization arranged by Carlyle.
Greenland Mines Closes Its $35 Million Sarfartoq Rare Earth Deal — After a 1-for-50 Reverse Split and an Offering Bigger Than the Company's Entire Share Count
Greenland Mines said on Sept. 2 it has completed the acquisition of the Sarfartoq neodymium-praseodymium project from Neo Performance Materials for $20 million in cash and $15 million in securities, citing an Initial Assessment high-case pre-tax NPV of about $2.05 billion prepared by an outside consultant. The nine days that made the cash payment possible included a reverse split for Nasdaq bid-price compliance and a 4,000,000-share raise against roughly 3.18 million shares then outstanding.
GoPro Agrees to $285 Million Merger With Starman Optical, Paying Holders $1.14 a Share Plus a 10% Stub
The action-camera maker will hand shareholders $285 million in cash and roughly a tenth of the combined company, while about $92 million of GoPro debt is repaid at closing. The deal ends a strategic review the board opened in May and pushes a consumer brand into optical transceivers for AI data centers and defense.
Energy Fuels Closes Australian Strategic Materials Deal, Adding a Korean Alloy Plant to Its Mine-to-Magnet Plan
Completion on Aug. 28 hands the uranium and rare earth producer 1,300 tonnes a year of NdFeB alloy capacity at Ochang, South Korea, plus the Dubbo project in New South Wales. The far larger step, a $1.9 billion purchase of German magnet maker VAC, is not due to close until early 2027.
Diodes Closes $250 Million Purchase of ElevATE Semiconductor, Adding Automated-Test Chip Line
Diodes' own investor press room lists a completion announcement dated Aug. 27, about six weeks after the all-cash deal was announced. The company has projected about $50 million of revenue from the fabless San Diego business in its first twelve months under new ownership.
Ursa Major Agrees to Go Public via a Bleichroeder SPAC at a $2.3 Billion Post-Deal Equity Value, With Closing Targeted for Early 2027
The hypersonics and solid rocket motor maker would combine with Bleichroeder Acquisition Corp. III in a deal the parties say could deliver up to $345 million depending on redemptions, plus at least $350 million of PIPE commitments - but only about $110 million of that PIPE was funded at signing.
Immatics Prices $150 Million Stock Sale at $8.69 a Share, With Closing Expected Aug. 26
The T-cell therapy developer placed 12,945,916 ordinary shares plus pre-funded warrants for 4,315,304 more, adding capital on top of the $448.2 million it reported holding at the end of June as it widens its pivotal melanoma trial.
Navitas Will Pay Up to $232.8 Million for Claros, and Calls the Payoff a 2028-29 Story
The power-semiconductor maker is buying a vertical-power-delivery startup with about $216 million of cash and stock at closing and the balance in shares tied to two years of milestones. Navitas booked $10.5 million of revenue last quarter.
Two Harbors Clears Final Regulator for $12.00-a-Share Cash Sale to CrossCountry Mortgage, With Closing Expected Before the Open on Aug. 25
Two Harbors Investment Corp. said on Aug. 21 that it received the final regulatory approval needed for its all-cash merger with CrossCountry Mortgage, and that the deal is expected to close before the market opens on Aug. 25. If it completes, common holders are to receive $12.00 per share plus a stub period dividend of $0.20326 per share, payable to holders of record as of Aug. 24; the release says the dividend will not reduce or otherwise affect the merger consideration. The price is 11.1% above the $10.80 per share CrossCountry agreed to pay when the two sides signed in March.
Werewolf Therapeutics agrees to an all-stock merger with Ambros and a $150 million private placement. Existing Werewolf holders keep about 6.8% of the result.
The combined company will be called Ambros Therapeutics and trade on Nasdaq under AMBX, according to the Aug. 21 release. Ambros is valued at $500 million before the placement and Werewolf at $47.5 million, with private placement investors taking roughly 21.5%. Werewolf, which flagged substantial doubt about its ability to continue as a going concern in its last annual report, closed Thursday at 43 cents.
Critical Metals Replaces Fixed Exchange Ratio With Floating Scale in European Lithium Scheme
Under the amended scheme deed disclosed Aug. 19, European Lithium holders would receive between 0.025 and 0.045 Critical Metals shares depending on a 20-day Nasdaq VWAP. On the VWAP as of the announcement the maximum 0.045 would apply — about 28.6% more stock than the original fixed 0.035.
Metaplanet Would End Up Owning 95.7% of Super League. Existing Holders Keep 4.3%.
The Japanese bitcoin treasury company is contributing 2,100 BTC and $2.5 million for 44.9 million shares at $3.00, plus ten-year warrants on another 381 million. Super League's net revenue last quarter was about $1.24 million.
Harte Hanks Agrees to $5-a-Share Sale to Star Equity, With a Cash-or-Preferred Twist
The direct-marketing and BPO firm would fetch about $38.4 million in a deal that lets holders choose cash or 10% preferred stock, but a 30-day go-shop keeps the outcome open.
Datavault AI Signs Definitive Deal to Buy CyberCatch for $94.5 Million Cash, and the Release Flags Its Own Financing Risk
CyberCatch disclosed the signed arrangement agreement at 8:41 p.m. ET Monday. The document sets a price, a break fee and a September shareholder vote — but it does not show where Datavault AI, a Nasdaq company that reported $2.2 million of cash at its last quarter-end, gets the money.