Accelerant opens at $28.50, IPO at $21

Accelerant opens at $28.50, IPO at $21

Accelerant Holdings, an insurance risk exchange, opened its initial public offering (IPO) on Wednesday, July 23, 2025, at $28.50 per share, significantly higher than the $21 per share at which it priced during the offering. This marks a substantial increase from the top of the $18 to $20 marketed range [1].

The IPO, led by Morgan Stanley and Goldman Sachs, raised $607.9 million based on the 20.3 million shares listed in an earlier filing with the US Securities and Exchange Commission. The company's investors, including funds controlled by Altamont Capital Partners and asset manager Eldridge Industries, sold about 8.7 million shares [1].

Accelerant's IPO comes at a time when the US IPO market has been showing signs of recovery after a mid-year lull. As of July 2025, the total US first-time share sales in 2025 have amounted to $17.8 billion, excluding financial vehicles such as blank-check companies, which is below the $18.6 billion raised in the same period last year [1].

The high demand for Accelerant shares, with orders exceeding 20 times the available shares, underscores investor interest in the company's innovative data-driven risk exchange model. The company connects niche insurance underwriters with institutional investors, using data to streamline the risk assessment process [1].

Accelerant's strong IPO performance is also a reflection of the broader market conditions. Recent successful US market debuts, including those of NIQ Global and Carlsmed, have encouraged more companies to press ahead with their IPOs [2].

The company plans to use the proceeds from the IPO to redeem some convertible preference shares and pay management fees to its majority investor, Altamont Capital. Accelerant's shares will begin trading on the New York Stock Exchange under the ticker symbol "ARX" [2].

References:
[1] https://www.bloomberg.com/news/articles/2025-07-23/todd-boehly-backed-accelerant-ipo-expected-to-price-above-range
[2] https://ca.finance.yahoo.com/news/insurance-marketplace-accelerant-backers-raise-004507305.html