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Cardinal Infrastructure Group IPO Surges on Nasdaq Amid Year-End IPO Frenzy
ByAinvest
Wednesday, Dec 10, 2025 12:54 pm ET1min read
Cardinal Infrastructure Group, a provider of infrastructure services, raised $241.5 million in its Nasdaq debut, opening 9.5% above its IPO price. The company operates in the Carolinas and serves national and regional homebuilders and contractors. Cardinal reported a net income of $19.7 million on revenue of $310.2 million for the first nine months of 2025, up from $17 million in profit and $230.3 million in revenue for the same period a year earlier.
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