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IPOX® Associate Lukas Muehlbauer commented on the fall IPO market as Holtec Nuclear targets a valuation of up to $10.2 billion in its U.S. IPO. He said early deals could set the tone for the broader market, with strong debuts potentially encouraging more listings and weak pricing or aftermarket performance narrowing the window. Muehlbauer added that economic fundamentals, market conditions and the Federal Reserve’s September meeting are likely to drive IPO activity, with limited impact from midterm elections this year.

Reuters reports on SoftBank-backed SB Energy’s U.S. IPO filing as AI infrastructure investment accelerates. IPOX® Research Associate Lukas Muehlbauer comments on the company’s roughly $439 billion backlog, execution risks, and reliance on long-term customer commitments. He notes that investors must assess whether contracted demand can translate into future cash flow, while also weighing the uncertainty surrounding 20-year OpenAI leases in a rapidly evolving AI market and the sustainability of current infrastructure spending trends over the coming years.

IPOX® Associate Lukas Muehlbauer was featured in Bloomberg’s Mideast Money newsletter, providing context on Abu Dhabi’s recent moves to take strategic companies private. He highlighted how similar transactions in other markets have often reflected governments’ desire for greater control over important assets, whether to support long-term investment or restructuring. His comments helped frame the AD Ports and TAQA developments within a broader global pattern of state-led ownership consolidation and strategic market repositioning across public equity markets worldwide today and beyond.

German financial magazine FOCUS MONEY examines Oura’s planned IPO as the wearable technology company builds on strong growth and an expanding digital health platform. IPOX® Associate Lukas Muehlbauer comments on Oura’s positioning ahead of a potential listing, noting its evolution from a young wearable company into an established platform. He also highlights Oura’s focused product strategy versus larger technology groups, as the company targets further growth in the expanding global wearables market and recurring subscription-based customer revenue opportunities.

IPOX­® CEO Josef Schuster commented on Lyntris’ New York debut after shares fell 11.4%, valuing the defense contractor at $1.78 billion. Schuster said the market was discounting the company’s capital structure rather than treating it like a venture capital deal. He also noted that higher U.S. bond yields were pushing investors away from riskier, less-seasoned companies, including recent IPOs, even as earnings remained strong. Lyntris priced its IPO below its marketed range and reduced the offering size to 17 million shares, raising $297.5 million.

Reuters reports that Londian Wason’s NYSE debut valued the Chinese copper foil maker at about $2.01 billion, marking the largest U.S. IPO by a Chinese company in more than a year. IPOX® Research Associate Lukas Muehlbauer cautioned that the strong first-day performance, supported by a very low float and potential scarcity premium, should not be viewed as proof of a broader reopening for larger Chinese IPOs. He also highlighted potential future supply risks and customer concentration concerns for longer-term investors.

IPOX® Associate Muehlbauer was quoted in Reuters on Londian Wason’s planned U.S. IPO, which targets a valuation of up to $1.7 billion and could become the largest New York listing by a Chinese company in more than a year. He said the relatively small offering would be encouraging rather than signal a definitive market reopening, while highlighting stronger growth, profitability, battery demand, and investor concerns over the company’s reliance on a limited number of major customers for future growth prospects.

IPOX® Associate Lukas Muehlbauer was quoted by Reuters on Westinghouse Electric’s confidential U.S. IPO filing. He said the company’s investor appeal comes from offering exposure to nuclear growth through an established operating business and a well-known American industrial name. Muehlbauer added that energy-security concerns and rising electricity demand from data centers have improved market sentiment toward nuclear power.

IPOX® CEO Josef Schuster was featured in Bloomberg's ECM Watch, discussing muted U.S. IPO debuts and rising equity risk. Following mixed first-day performances from Jersey Mike’s and Reformation, Schuster said elevated risk is pressuring the IPO market and making investors more selective. He added that prospective issuers may need greater flexibility on pricing expectations and fundraising targets. Bloomberg also cited the IPOX® 100 U.S. as a benchmark for recent large U.S. IPOs and spinoffs amid volatile market conditions.

IPOX® Associate Lukas Muehlbauer was quoted by Reuters on Jersey Mike’s NYSE debut, noting that raising roughly $1 billion showed investors remain willing to back large, established consumer brands. The sandwich chain’s shares opened 8.7% below their $23 IPO price, valuing the company at about $6.7 billion. Muehlbauer also cautioned against overinterpreting the first-day decline, citing broader market volatility as U.S. IPO activity continues to recover across technology, defense, industrial, consumer, and retail sectors this year after a prolonged slowdown.

Reuters reported that Permira-backed womenswear retailer Reformation was valued at $886.1 million in its NYSE debut after shares opened at the $15 IPO price. IPOX® Vice President Kat Liu said investors now prioritize financial performance over sustainability narratives, though sustainability can still strengthen brands and customer loyalty. Liu also noted that Reformation’s high share of returning customers signals genuine loyalty, lower retention costs, stronger lifetime spending, and more predictable revenue as the company pursues store expansion and product diversification plans.

Reuters reports that Permira-backed womenswear retailer Reformation is targeting a valuation of up to $1 billion in its U.S. IPO. IPOX® Vice President Kat Liu said consumer companies can still attract investors, but few retail brands offer enough recognition and differentiation. She noted Reformation’s sustainability positioning must compete with price, fashion trends and convenience. Liu added that its direct-to-consumer model improves control over pricing, merchandising, customer relationships and inventory, but is not a unique competitive advantage in today’s apparel market landscape.

IPOX® CEO Josef Schuster commented on YPF Electric Energy’s U.S. IPO filing, highlighting the company’s significant scale and position among Argentina’s leading utilities. He said the strong debut of Korea’s SK Hynix demonstrated that U.S. markets remain receptive to large foreign listings, helping motivate YPF Electric Energy to pursue a NYSE debut. The company reported a 45.8% increase in quarterly revenue and plans to trade under the ticker “YLUZ,” with investor interest supported by improving sentiment toward Argentina’s energy sector.

Reuters reported that Brookfield-backed data center provider Csquare was valued at $3.2 billion after a subdued NYSE debut, with shares closing below the $21 IPO price. IPOX® Research Associate Lukas Muehlbauer said investors viewed the company’s AI infrastructure exposure alongside substantial leverage and continued losses, prompting disciplined pricing. He added that the successful deal still showed the IPO market remains open to AI infrastructure companies, although investor demand appears selective rather than overheated in the current, cautious new-issue market environment.

IPOX® CEO Josef Schuster commented on Standard Nuclear’s decision to cut its proposed U.S. IPO by more than half, lowering its targeted valuation to $2.4 billion amid cautious investor sentiment. He said weak performance among recent IPOs, including SpaceX, is weighing on demand for high-risk, loss-making offerings. Schuster also noted that sector-specific weakness, reflected in declines for NuScale Power and Oklo, is creating a more challenging pricing environment ahead of Standard Nuclear’s planned NYSE debut during its New York launch.

Seeking Alpha featured an analysis of the First Trust US Equity Opportunities ETF (FPX), highlighting the fund’s tracking of the IPOX® 100 U.S. Index. The article discusses FPX as a diversified ETF for exposure to U.S. companies that have recently gone public, with a focus on index methodology, sector positioning, recent performance, and risk profile. It also examines how IPO market trends, AI enthusiasm, and corporate spinoffs may shape the fund’s opportunity set.

IPOX® CEO Josef Schuster told Reuters that Londian Wason New Energy Tech’s U.S. IPO filing could mark an important step for larger Chinese issuers seeking access to U.S. equity markets. Schuster noted that, if successful, the offering may help reopen the U.S. IPO market for bigger China-based deals. He also highlighted Londian’s position as a leading manufacturer of a key battery component, suggesting the company could attract investor interest despite pending pricing details.

IPOX® Associate Muehlbauer commented on Jersey Mike’s U.S. IPO filing in Reuters, noting the sandwich chain’s clear franchise-driven investment story, reported revenue growth, expansion plans and Blackstone backing. He also said the proposed listing could test investor appetite for restaurant IPOs, a category with mixed aftermarket performance. Reuters reported that Jersey Mike’s operates more than 3,300 locations across the U.S. and Canada and plans to list on the New York Stock Exchange under ticker JMKE as public markets reopen broadly.

IPOX® VP Kat Liu commented on Cumberland Farms’ IPO filing in Reuters coverage of the convenience store retailer’s move toward a Nasdaq listing. Liu noted that the IPO market’s reopening has broadened beyond AI and other high-growth sectors, with companies from a wider range of industries coming to market. She also said investors may view Cumberland Farms as a defensive retail business with stable cash flows rather than a traditional consumer discretionary company amid the renewed IPO momentum in 2026.

IPOX® Research Associate Lukas Muehlbauer was quoted in Reuters on ITG’s Nasdaq debut, saying: “The current buzz around the AI and data center theme helped ITG to go public, with investors still looking for companies that can benefit from the rising demand around digital infrastructure.” Reuters reported that ITG shares rose 12.5%, valuing the Oaktree-backed digital infrastructure company at $2.18 billion and highlighting investor demand for companies tied to AI infrastructure.

IPOX® Associate Muehlbauer commented on the debut of mobility firm Lime in Reuters. The Uber-backed e-scooter and bike operator opened above its $25 IPO price, valuing the company at about $1.73 billion. Muehlbauer said the pricing and first-day trading indicated sufficient investor demand, though the reception appeared measured. He added that Lime must prove it can sustain growth through seasonal and market cycles without relying mainly on adding vehicles and capex in a competitive sector.

Reuters reported that Mexican silver miner Sinda fell 10% in its NYSE debut after raising $213 million in its U.S. IPO. IPOX® Research Associate Lukas Muehlbauer was quoted on the selective IPO window for mining firms, noting that pre-production miners face investor scrutiny because their value depends on long-term execution. He also highlighted Sinda’s “high-risk, high-reward profile,” citing its appealing location and experienced backing alongside the uncertainty of exploration-stage mining companies in the current market for metals producers and explorers.

Reuters featured IPOX® Associate Lukas Muehlbauer in two articles covering Doncasters’ U.S. IPO and NYSE debut. The aerospace parts maker raised $919.3 million after pricing above its marketed range, then opened 33.3% higher in its first trading session. Muehlbauer discussed Doncasters’ nearly 250-year heritage, post-2020 turnaround, revenue growth, and broader positioning across aerospace, defense, industrial gas turbines, and AI-linked power demand, noting that its investment story extends beyond a pure-play defense theme for Reuters readers following IPO markets closely.

IPOX CEO Josef Schuster commented on Safepoint’s decision to withdraw its planned U.S. listing, telling Reuters that the move appeared to reflect company-specific factors rather than weakness in the broader IPO market. The Florida insurer had sought to raise up to $283.3 million after launching its IPO in May. Reuters noted that the withdrawal came as the IPO market continued to regain momentum, with several Florida-based insurers already completing New York listings in 2025, following recent reforms in Florida’s market.

IPOX® CEO Josef Schuster featured on the First Trust ROI Podcast to discuss post-IPO performance trends, renewed activity in the IPO market, and key dynamics shaping new listings. Schuster highlighted IPOX® research on the long-term divergence between IPO winners and underperformers, the role of diversification in post-IPO investing, and opportunities across IPOs, spin-offs, SPACs, and international markets as investor interest in newly public companies continues to strengthen.

IPOX® Associate Muehlbauer commented on Lime’s planned U.S. IPO in Reuters, highlighting the Uber-backed electric bike and scooter operator’s global scale, cash generation, and strong revenue growth as supportive factors for its proposed valuation of up to $1.66 billion. His analysis also noted key market considerations, including seasonality, regulation, asset intensity, and city-level permit exposure, as Lime prepares to list on Nasdaq under the ticker LIME.

IPOX® Associate Muehlbauer was quoted by Reuters on Kardigan’s Nasdaq debut, after the heart drug developer raised $400 million in an upsized IPO. He noted that biotech IPO activity has improved but remains selective, favoring companies with late-stage assets, clear commercialization paths, visible catalysts, or strong backers. In broader commentary shared with Reuters, Muehlbauer said Kardigan’s going-concern warning was not a deal breaker and reflected why the company raised capital, while follow-on offerings remain a possible overhang for investors.

IPOX® VP Kat Liu was quoted by Reuters on SpaceX’s post-IPO share decline, as the stock fell more than 6% after a sharp debut rally. Reuters reported that shares remained over 30% above the $135 offering price, while investors weighed valuation, limited float, retail activity and AI expansion plans. Liu noted that profit-taking was not surprising given the IPO’s scale and strong initial performance, calling it an eventful, shortened trading week for the largest IPO in history.

IPOX® Associate Muehlbauer noted in Reuters coverage that some companies previously considering a traditional IPO may now look to SPAC mergers as mega-IPOs compete for investor attention. He said existing SPAC vehicles still need to complete transactions before liquidation, leaving capital actively seeking deals. Reuters highlighted renewed SPAC activity and rising issuance, while IPOX® data show the IPOX® SPAC Index outperforming the S&P 500 year to date, up 16.43% versus 9.73% amid a more favorable public-market backdrop for new listings.

In a First Trust webinar, IPOX® CEO Dr. Josef Schuster discussed the SpaceX IPO, strong new-listings activity, and IPOX®’s data-driven approach to tracking IPOs, spin-offs, de-SPACs, REITs, and select IPO M&A. Schuster addressed SpaceX’s expected low float, aftermarket risks, and broader opportunities across the IPO market. The webinar also highlighted the IPOX® 100 U.S. Index, its 20-year live track record, and its role as the underlying index for the First Trust US Equity Opportunity Index (Ticker FPX) today.