Velo3D (VELO) began trading on the Nasdaq on 19 Aug 25

Velo3D (a company specializing in metal additive manufacturing/3D printing technologies for mission-critical parts) went public via a SPAC merger rather than a traditional IPO.

• In March 2021, it announced a merger with JAWS Spitfire Acquisition Corporation (a SPAC backed in part by Serena Williams). 
• The deal valued Velo3D at approximately $1.6 billion (pro forma enterprise value).
• It closed in September 2021, with the combined company trading on the NYSE under the ticker VLD starting September 30, 2021.
• In August 2025, Velo3D announced a $17.5 million public offering of common stock (priced at $3.00 per share) and uplisted to the Nasdaq Capital Market.
• Trading began on Nasdaq on August 19, 2025, under the new ticker VELO.

This 2025 event is sometimes referred to as a "Nasdaq IPO" or relisting in media coverage, involving a public offering alongside the exchange switch from prior OTC/NYSE status.

6-months 

Alliance Laundry Holdings (ALH) reported earnings on Thur 12 March 26 (b/o)

 

ALH

Alliance Laundry Systems beats by $0.01, beats on revs; guides FY26 revs in-line

• Reports Q4 (Dec) earnings of $0.24 per share, excluding non-recurring items, $0.01 better than the FactSet Consensus of $0.23; revenues rose 10.1% year/year to $434.9 mln vs the $419.91 mln FactSet Consensus.
• Co issues in-line guidance for FY26, sees FY26 revs of +5-7% yr/yr to ~$1.78-1.83 bln vs. $1.8 bln FactSet Consensus.

Alliance Laundry Systems -10% trades to new post-IPO low as top line growth slows in FY26 

• Alliance Laundry Systems (ALH) is still early in its life as a public company, and today's sell-off suggests investors were hoping for stronger growth signals following its October 2025 IPO.
• While the company delivered modest EPS upside and more meaningful revenue upside for Q4, the bigger focus appears to be on the outlook. FY26 revenue growth guidance of +5-7% represents a notable slowdown from the +13% growth delivered in FY25, and that deceleration is catching investor attention, particularly since last year's gains were largely organic rather than acquisition-driven.
• Management continues to emphasize the durability of the commercial laundry market, noting that laundry services are a non-discretionary part of everyday life and tend to perform consistently across economic cycles. That stability is one reason the company believes its business offers dependable long-term growth and downside protection.
• At the same time, Alliance Laundry highlights its leadership position as the largest pure-play commercial laundry equipment manufacturer globally, supported by brands such as Speed Queen and UniMac, along with a global manufacturing and engineering footprint spanning three continents.
• Even so, investors appear to be taking a cautious stance as the company adjusts to public market expectations. The narrative around scale advantages and strong customer demand remains intact, but the guidance implies that growth is normalizing following a particularly strong FY25. As a relatively new public company, Alliance Laundry may need to deliver a few more quarters of consistent execution before investors grow comfortable with its longer-term growth trajectory.

Ambitions Enterprise Management (AHMA) : 6-week performance

Ambitions Enterprise Management Co. LLC operates as a travel agency. It provides event planning and management services. The firm also offers transportation, accommodations, meals, and guided tours or activities under convenient packages. 

• Sector: Consumer Cyclical
• Industry: Travel Services
• Full Time Employees: 43
• Founded  in 2023 
• HQ in Dubai, the United Arab Emirates

The stock experienced a significant decline during regular trading hours on December 5, 2025, amid heightened volatility typical for a recent IPO. Trading was halted briefly around 9:55 AM ET due to rapid price swings, resuming shortly after, which exacerbated the downward move. This follows a pattern of sharp fluctuations, including a 12.23% drop on December 4 and prior surges tied to subsidiary appointments for global events announced late last week. No new announcements or external events appear to have triggered the move, pointing to profit-taking and thin liquidity in this UAE-based MICE firm's shares. Volume spiked to over 1 million shares, amplifying the intraday plunge based on available reports.

=========

As a UAE-based MICE (meetings, incentives, conferences, and exhibitions) and tourism services provider, the Company serves a global client base by delivering expert event management and seamless, one-stop travel solutions. Guided by an experienced management team and supported by partnerships across the tourism and hospitality industries in the Middle East, Europe, Africa, and the Americas, the Company executes large-scale events for clients from diverse sectors. Additionally, the Company manages bespoke travel experiences, providing a one-stop guided tour service that streamlines travel across the UAE and its neighboring countries, as well as to other global destinations.

For more information, please visit https://ir.ambitions.ae 

American Bitcoin (ABTC) : 3-month performance

American Bitcoin Corp. is a bitcoin accumulation platform company.

September 3, 2025: first day of trading on the Nasdaq, following a merger with Gryphon Digital Mining. The stock experienced significant volatility, opening around $8, surging to a high of $14.52, and ultimately closing at $8.04, up 16.5% for the day. 

• Parent organization: Hut 8 Corp. (NASDAQ:HUT)
• Founders: Eric Trump, Donald Trump Jr.
• Founded: March 2025
• Headquarters: Miami, Florida
• Incorporated: Delaware
• www.americanbtc.com

Bearish Put Activity:

• ABTC Weekly Dec05 1.5 puts are seeing interest with the underlying stock down 38% (volume: 9.0K, open int: 50, implied vol: ~211%, prev day implied vol: 97%). Co is expected to report earnings mid-February.

American Bitcoin Corp (ABTC) shares plunge over 50% Tuesday with multiple trading halts as Eric Trump cites pre-merger private placement share unlock driving heavy volume and steep selloff.

 

 

 

 

 

About American Bitcoin

American Bitcoin is a majority-owned subsidiary of Hut 8 focused exclusively on industrial-scale Bitcoin mining and strategic Bitcoin reserve development. The company combines Hut 8's proven mining operations, cost-efficient infrastructure development capabilities, and disciplined approach to capital allocation with Eric Trump's commercial acumen, capital markets expertise, and commitment to the advancement of decentralized financial systems. For more information, visit www.americanbtc.com.

Leifras (LFS) began trading on the Nasdaq on Thur 9 Oct 25

Headquartered in Tokyo, Leifras is a sports and social business company dedicated to youth sports and community engagement. 

 

The Company primarily provides services related to the organization and operations of sports schools and sports events for children. As of December 31, 2024, Leifras was recognized as one of Japan's largest operators of children's sports schools in terms of both membership and facilities by Tokyo Shoko Research. 

• Headquarters: Japan
• Founded: August 27, 2001
• https://leifras.co.jp/

Kodiak AI (KDK) began trading on the Nasdaq on Thur 25 Sept 25

Kodiak Robotics, Inc. builds and operates self-driving trucks. The company delivers freight for its customers between Dallas-Fort Worth and Houston. It offers solutions in the areas of updating automated drivers, a network of transfer points facilitates, and fleet management tools. 

• Sector: Industrials
• Industry: Farm & Heavy Construction Machinery
• Founder and CEO Don Burnette
• Incorporated in 2018 
• HQ based in Mountain View, California, with an operations center in Lancaster, Texas
• https://kodiak.ai

Kodiak AI (KDK) began publicly trading on the Nasdaq via a SPAC deal (Special Purpose Acquisition Company). Autonomous trucking startup Kodiak Robotics merged with Ares Acquisition Corp. II (AACT) to form the new company.

 

2 Oct 25 

 

Kodiak was founded in 2018 by industry veteran, Don Burnette, with a vision of becoming the trusted world leader in autonomous ground transportation dedicated to commercializing driverless trucking at scale. In 2024, we believe Kodiak became the first company to announce delivery of a driverless trucking product to a customer.
 

==Fermi America (FRMI) began trading on the Nasdaq on Wed 1 Oct 25

 

Founded by Rick Perry, Toby Neugebauer and Griffin Perry on January 10, 2025

Headquartered in Amrillo, TX.

Opened at $25 after pricing upsized 32.5 mln share IPO at $21, towards the high end of the $18-$22 expected price range

Fermi America provides IPO market with a jolt as advanced energy and hyperscaler development company storms out of the gate 

• Fermi America's (FRMI) IPO drew strong demand as the upsized 32.5 mln share deal (from 25.0 mln) priced at $21, towards the upper end of the $18-$22 expected price range. The strong pricing carried over into the public market where FRMI opened for trading at $25 -- good for a 19% opening pop -- with shares currently trading near $26.
• The company is a Texas-based data center real estate investment trust (REIT) co-founded by former U.S. Energy Secretary Rick Perry. FRMI aims to develop "Project Matador," a massive energy and data center complex in Amarillo, Texas, designed to deliver up to 11 gigawatts of power by 2038 using nuclear, natural gas, solar, and battery storage. This initiative is poised to support the growing demand for AI infrastructure.
• Despite being founded in January 2025 and reporting a $6.4 mln loss through June 30, 2025, with no revenue, FRMI's IPO raised $682.5 mln in proceeds.
• Investor interest was driven by the company's strategic focus on AI infrastructure, the potential for long-term growth in this sector, and its REIT structure offering potential dividends.

Figure Technology Solutions (FIGR) began trading on the Nasdaq on Thur 11 Sept 25

Figure Technology, a profitable financial-technology company co-founded by a former chief executive officer of Sofi Technologies (SOFI) specializes in blockchain access to help lenders provide home-equity loans.

• Founded by Michael Scott Cagney and June Ou in 2018
• Headquartered in Reno, NV
• https://www.figure.com/

 

Figure Technology Solutions Inc.’s stock rallied 24% in its first day of trading on Thursday in a sign of sustained interest by Wall Street in the fast-growing digital-currency sector.

At the closing bell, Figure Technology’s stock stood at $31.11 a share, up $6.11 from its IPO price of $25 a share. The stock opened at $36 a share in the early afternoon and traded between a high of $38.05 and a low of $30.13 a share.

The pricing of Figure’s IPO came just after Klarna Group PLC’s stock  rose 14.6% on its first day of trading, after the buy-now-pay-later company’s IPO also priced above its estimated range. Klarna’s stock was down 6.7% in its second day of trading Thursday.

• 8 days later

Black Rock Coffee Bar (BRCB) began trading on the Nasdaq on Fri 12 Sept 25

Black Rock Coffee Bar, Inc. engages in the provision of caffeinated beverages. It offers roasted coffees, teas, smoothies, and flavorful energy drinks. 

• Founded by Daniel Brand, Jeff Hernandez, Jake Spellmeyer, and Bryan Pereboom in 2008 
• Headquartered in Scottsdale, Arizona
• https://www.br.coffee/

Opened at $26.50 after pricing 14,705,882 share IPO at $20.00 per share, above the $16-18 expected range

Troutdale, Oregon drive-thru-only

Black Rock Coffee Bar's refreshing Summer drinks.

Klarna Group (KLAR) began trading on the NYSE on Thur 10 Sept 25

Klarna Group Plc operates as an investment holding company. It provides an e-commerce payment solutions for merchants and shoppers. The firm connect an array of different financial services and commerce organizations, from PSPs, traditional banks, card networks and open banking providers, to commerce enablers, technology partners, in-store payments providers and shipping and return logistics providers. 

• Sector: Technology
• Industry: Software - Infrastructure
• Full Time Employees: 3,778
• Founded by Gustav Erik Niklas Adalberth, Karl Anders Victor Jacobsson, and Sebastian Marcin Siemiatkowski in 2005 
• Headquartered in London, the United Kingdom
• https://www.klarna.com/uk

Klarna Group plc opened at $52 after pricing 34,311,274 share IPO at $40.00 per share, above the $35-37 expected range

• 2 days later

Mega Fortune Co Ltd (MGRT) began trading on the Nasdaq on Wed 16 July 25

• Sector: Technology
• Industry: Information Technology Services
• Full Time Employees: 17
• Founded in 2011
• Headquartered in Sha Tin, Hong Kong
• Mega Fortune Company Limited is a subsidiary of Mericorn Company Limited.
• https://qbssystem.com

==Miami International (MIAX) began trading on the NYSE on Thur 14 Aug 25

 

Opened at $31.65 after pricing 15.0 mln share IPO at 23.00 per share, above the $19-21 expected range

Miami International Holdings keeps red-hot IPO market rolling along as another FinTech deal draws robust demand; Operator of technology-driven financial marketplaces experiencing strong growth in U.S. options business 

• MIAX operates a network of technology-driven financial marketplaces, including four U.S. options exchanges, a cash equities exchange, a futures exchange, and the Bermuda Stock Exchange, offering multi-asset trading solutions with a focus on low-latency and high reliability.
• Strong investor interest was driven by MIAX's 16.7% U.S. options market share, its scalable fintech model, and a favorable IPO market, with recent successes like Circle and Chime signaling a revival in fintech listings.
• For the six months ended June 30, 2025, revenue grew by 21% yr/yr to $564.9 mln. The growth was primarily due to a $114.2 mln increase in Options transaction and clearing fees primarily as a result of a 22.2% increase in Options market contracts, a 30.5% increase in MIH Options contracts, and a 1.4% increase in transaction and clearing fees revenue per contract. For this same period, operating income improved dramatically to nearly $50 mln from $(8.8) mln in the year earlier period.

About MIAX

MIAX's parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX Pearl®), MIAX Emerald, LLC (MIAX Emerald®), MIAX Sapphire LLC (MIAX Sapphire™), MIAX Futures Exchange, LLC (MIAX Futures™), MIAX Derivatives Exchange (MIAXdx™), Dorman Trading, LLC (Dorman Trading), The Bermuda Stock Exchange (BSX) and The International Stock Exchange (TISE).

MIAX, MIAX Pearl, MIAX Emerald and MIAX Sapphire are national securities exchanges registered with the Securities and Exchange Commission that are enabled by MIAX's in-house built, proprietary technology. MIAX offers trading of options on all four exchanges as well as cash equities through MIAX Pearl Equities™. 

MIAX Futures is a registered exchange with the Commodity Futures Trading Commission (CFTC) and enabled by MIAX's in-house built, proprietary technology. MIAX Futures offers trading in a variety of products including Minneapolis Hard Red Spring Wheat Futures.

Amrize Ltd (AMRZ) : 6-week performance

Amrize AG focuses on building materials business in North America.  

• Sector: Basic Materials
• Industry: Building Materials
• Founded: 2023
• Headquarters: Zug, Zug, Switzerland
• Employees: 19,000
• Amrize AG operates independently of Holcim AG as of June 23, 2025.
• Website: amrize.com

Spinoff IPO:  June 23, 25

 

 

 

 Concrete, asphalt, and crushed stone facilities in Hyattsville, Maryland

Bullish (BLSH) began trading on the NYSE on Wed 13 Aug 25

Bullish is the owner of CoinDesk and the site's crypto data and analytics services. It also operates the Bullish Exchange, which is a digital asset platform focused on institutional clients. Since its launch in 2021, the Bullish platform has exceeded $1.25 trillion in total trading volume as of March 31.

The company has received backing from the likes of Palantir (PLTR) CEO Peter Thiel. BlackRock (BLK) and Cathie Wood's ARK Invest Management (ARKK) have indicated interest in investing up to $200 million in shares, CNBC reported.

The first digital asset exchange.

• Sector: Technology
• Industry: Software - Infrastructure
• Full Time Employees: 400
• Founded in 2020 
• HQ in George Town, Cayman Islands
• https://www.Bullish.com

Bullish opened at $90 after pricing an upsized 30.0 mln share IPO  at $37/share.

Trading for the crypto exchange and news provider was halted multiple times due to volatility after the launch.

The cryptocurrency exchange initially planned to offer 20.3 mln shares within a projected price range of $28-$31.

The upsized deal gives the company a total market value of $5.4 bln.

Firefly Aerospace (FLY) began trading on the Nasdaq on Thur 7 Aug 25

Firefly Aerospace, Inc. engages in the design and manufacture of space launch vehicles. It offers Alpha, Beta, Gamma, and orbital transfer vehicles.

Firefly Aerospace is the only private company to achieve a fully successful landing on the moon,

• Sector: Industrials
• Industry: Aerospace & Defense
• Founded by Thomas E. Markusic, Mark Watt, and Max Polyakov in 2017 
• Headquartered in Cedar Park, TX.
• https://www.fireflyspace.com
• Firefly Aerospace opened at $70 after pricing IPO at $45/share 

Firefly, a portfolio company of AE Industrial Partners, builds small- to medium-lift launch vehicles, lunar landers, and orbital vehicles.  Earlier this year, the company's lunar lander called Blue Ghost successfully touched down on the moon without crashing or tipping over.

Firefly disclosed over $1.1B in backlog as of March 31. Revenue for the three months ended March 31 totaled nearly $55.9M, up about 572% Y/Y, and its net loss was $60M.

WhiteFiber (WYFI) began trading on the Nasdaq on Thur 7 Aug 25

WhiteFiber, Inc. provides AI and HPC infrastructure & cloud and data center solutions. It operates through the following segments: Cloud Services and Colocation Services. The Cloud Services segment offers computing services to support generative AI workstreams. The Colocation Services segment provides customers with physical space, power and cooling within the data center facility. 

• Sector: Technology
• Industry: Software - Application
• Founded in 2024 
• Headquartered in New York, NY
• https://www.whitefiber.com

WhiteFiber priced upsized 9.38 mln share IPO at $17 per share, the high end of the $15-$17 expected price range

 

===Figma (FIG) began trading on the NYSE on Thur 31 Jul 25

• In 2022 Adobe  agreed to acquire Figma for $20 billion, but the deal fell apart in 2023 after U.K. regulators said the tie-up would likely harm competition. 
• Led by 33-year-old CEO Dylan Field, Figma makes web-based software that allows people to collaborate on slide decks, digital whiteboards and designs for apps and websites.
•  

Figma opened at $85 after pricing 36.9 mln share IPO at $33/share; above the $25-28 expected range;

opened for trading with a staggering 158% gain at $85, and then rocketed as high as $116 before shares were immediately halted.

Figma launches in debut as collaborative design software company joins stablecoin company Circle as blockbuster IPOs 

• A successful IPO was widely anticipated for Figma (FIG), but few could have predicted that its 36.9 mln share IPO would price far above expectations ($33 vs. $25-$28 projected range), open for trading with a staggering 158% gain at $85, and then rocket as high as $116 before shares were immediately halted.
• For some quick background on FIG, the company's core business revolves around its cloud-based design platform, which enables real-time collaboration for product design teams, akin to Google Docs for design workflows. Its flagship product, Figma, facilitates user interface and experience design, prototyping, and design system management, while FigJam, launched in 2021, serves as a whiteboard tool for team brainstorming.
• So, why all the excitement? First, the company's financials are quite impressive. For 1Q25, revenue jumped by 46% yr/yr to $228.2 mln, while net income tripled to $44.9 mln, driven by a 91% gross margin. This growth is fueled by FIG's ability to attract high-value enterprise clients (e.g., Netflix, Stripe, ServiceNow), its scalable SaaS model, and product portfolio expansion, including four new AI-focused tools launched in May 2025.
• Also, the IPO market has reawakened, and investors are looking for new high-growth opportunities -- FIG fits the bill. Although the IPO market is healthy, investment banks are still pricing IPOs cautiously. Based on the meteoric open, it's clear that FIG could have priced its IPO at a much higher price, leaving a lot of money on the table. However, companies and their investment bankers are still a little skittish about deals falling flat once they hit the public markets. With Circle's (CRCL) and FIG's huge opening gains, that trend could be changing soon.

Aura Minerals (AUGO) began trading on the Nasdaq on Wed 16 July 25

Aura Minerals Inc. is a Canadian multi-national mining company that owns and operates gold and copper mines in Honduras, Brazil and Mexico. 

The company is headquartered in the British Virgin Islands, operated from its corporate office in Florida and has its stocks traded on the Toronto Stock Exchange and BDR on the B3.

• Founded: 1946
• Headquarters: Coral Gables, Florida
• Website: auraminerals.com
• Employees: 1,337
• CEO: Rodrigo Barbosa

 Ticker: AUGO

Aura Minerals priced 8.10 mln share IPO at $24.25 per share; 

Stock is already listed on Toronto Stock Exchange and Brazilian Stock Exchange and will now trade on the Nasdaq Global Select Market

 

  

BofA Securities and Goldman Sachs & Co. LLC are acting as Global Coordinators, BTG Pactual and Ita BBA are acting as Joint Bookrunners and Bradesco BBI, National Bank of Canada Financial Markets, RBC Capital Markets and Scotiabank are acting as Co-Managers of the offering.

Slide Insurance (SLDE) began trading on the Nasdaq on Wed 18 June 25

Slide Insurance Holdings, Inc. engages in the provision of property insurance.

• Sector: Financial Services
• Industry: Insurance - Property & Casualty
• Full Time Employees: 474
• Founded by Bruce Lucas and Shannon Lucas in  2021 
• Headquartered in Tampa, Florida
• https://www.slideinsurance.com

June 18: Slide Insurance Holdings opened at $21 after pricing upsized 24.0 mln share IPO at $17/share