Venture Global Sets IPO Terms
Venture Global, Inc., a rapidly growing leader in the liquefied natural gas (LNG) industry, has announced the terms for its initial public offering. The company has reshaped the LNG production landscape and is poised to make a significant splash on Wall Street.
- Symbol: VG (NYSE)
- Shares Offered: 50 million
- Price Range: $40.00–$46.00 per share
- Expected Market Capitalization: $96.0 billion–$110.4 billion
- Trade Date: Friday, January 24, 2025
- Underwriters: Goldman Sachs, J.P. Morgan, BofA Securities, and others
- Co-Managers: National Bank of Canada Financial Markets, Raymond James, and others
- Initial Prospectus Filed: December 20, 2024
- Terms Finalized: January 13, 2025
With an expected valuation exceeding $100 billion, Venture Global’s IPO is critical LNG to global markets during a period of growing energy demand.
New IPO Filings
Four additional companies have filed for IPOs, each aiming to capitalize on investor interest across various sectors, from biopharmaceuticals to building materials.
Odyssey Therapeutics, Inc.
- Symbol: ODTX (Nasdaq)
- Description: A clinical-stage biopharmaceutical company targeting autoimmune and inflammatory diseases.
- Shares/Price Range: TBD
- Underwriters: Goldman Sachs, Jefferies, TD Cowen
- Co-Manager: Wedbush PacGrow
- Prospectus Filed: January 18, 2025
SailPoint, Inc.
- Symbol: SAIL (Nasdaq)
- Description: A provider of enterprise identity security solutions.
- Shares/Price Range: TBD
- Underwriters: Morgan Stanley, Goldman Sachs
- Prospectus Filed: January 18, 2025
Sionna Therapeutics, Inc.
- Symbol: SION (Nasdaq)
- Description: Developing innovative treatments for cystic fibrosis by normalizing CFTR protein function.
- Shares/Price Range: TBD
- Underwriters: Goldman Sachs, TD Cowen, Stifel, Guggenheim Securities
- Prospectus Filed: January 18, 2025
Titan America SA
- Symbol: TTAM (NYSE)
- Description: A leading supplier of heavy building materials along the U.S. Eastern Seaboard.
- Shares/Price Range: TBD
- Underwriters: Citigroup, Goldman Sachs, BofA Securities, and others
- Prospectus Filed: January 13, 2025
IPO Market Outlook
The flurry of activity signals growing momentum in the IPO market as companies from diverse sectors prepare to test investor appetite. Venture Global’s robust valuation and the variety of new entrants suggest that 2025 could be a banner year for public offerings.
Investors will be closely watching Venture Global’s January 24 debut for indications of broader market sentiment as the IPO wave gains strength.
Terms Added
Company: Venture Global, Inc.
Symbol: VG (NYSE)
Description: Venture Global has fundamentally reshaped the development and construction of liquefied natural gas production, establishing us as a rapidly growing company delivering critical LNG to the world.
Shares: 50 million
Price Range: 40.00-$46.00
Market Cap: $96.0b-$110.4b
Trade Date: Friday, 1/24
Underwriters: Goldman Sachs, J.P. Morgan, BofA Securities, ING, RBC Capital, Scotiabank, Mizuho, Santander, SMBC Nikko, MUFG, BBVA, Loop Capital, Natixis, Deutsche Bank, Wells Fargo, Truist Securities
Co-Manager(s): National Bank of Canada Financial Markets, Raymond James, Regions Securities LLC, Guggenheim Securities, Tuohy Brothers
Link to Prospectuses: Filed: 12-20-24
New Filings
Company: Odyssey Therapeutics, Inc.
Symbol: ODTX (Nasdaq)
Description: Odyssey is a clinical-stage biopharmaceutical company led by a team and board of drug hunters seeking to transform the standard of care for patients suffering from autoimmune and inflammatory diseases.
Shares: TBD
Price Range: TBD
Trade Date: TBD
Underwriters: Goldman Sachs, Jefferies, TD Cowen
Co-Manager: Wedbush PacGrow
Link to Prospectus: Filed: 1-18-25
Company: SailPoint, Inc.
Symbol: SAIL (Nasdaq)
Description: SailPoint delivers solutions to enable comprehensive identity security for the enterprise.
Shares: TBD
Price Range: TBD
Trade Date: TBD
Underwriters: Morgan Stanley, Goldman Sachs
Link to Prospectus: Filed: 1-18-25
Company: Sionna Therapeutics, Inc.
Symbol: SION (Nasdaq)
Description: They are a clinical-stage biopharmaceutical company on a mission to revolutionize the current treatment paradigm for cystic fibrosis (“CF”) patients by developing novel medicines that normalize the function of the cystic fibrosis transmembrane conductance regulator (“CFTR”) protein to deliver clinically meaningful benefit to CF patients.
Shares: TBD
Price Range: TBD
Trade Date: TBD
Underwriters: Goldman Sachs, TD Cowen, Stifel, Guggenheim Securities
Link to Prospectus: Filed: 1-18-25
Company: Titan America SA
Symbol: TTAM (NYSE)
Description: Titan America is a leading vertically integrated, multi-regional manufacturer and supplier of heavy building materials and services operating primarily on the Eastern Seaboard of the United States (the “Eastern Seaboard”).
Shares: TBD
Price Range: TBD
Trade Date: TBD
Underwriters: Citigroup, Goldman Sachs, BofA Securities, BNP PARIBAS, Jefferies, HSBC, SOCIETE GENERALE, Stifel
Link to Prospectus: Filed: 1-13-25
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