$13.510
+0.594 (+4.40%)At close
KARD News
KARD Events
Kardigan Appoints Kristin Reinke to Board of Directors
Kardigan (KARD) announced the appointment of Kristin Reinke to its Board of Directors, where she will serve as chair of the Audit Committee. As part of the Board's public company evolution, Doug Giordano will be stepping down from the Board. Reinke is currently vice president of finance at Google (GOOG), where she leads the application of AI to modernize and scale the company's finance organization.
Kardigan Cash and Investments Reach $660.7 Million
Cash, cash equivalents and investments were $660.7M as of June 30, 2026, compared to $335.5M as of December 31, 2025. "Our IPO has positioned Kardigan to advance a portfolio of late-stage cardiovascular programs to address diseases where patients urgently need better treatment options," said Tassos Gianakakos, co-founder, chief executive officer, and chair of the board of Kardigan. "As we initiate our Phase 3 KINSHIP-DCM trial, dose patients in our Phase 2b KARDINAL-ASH trial, and continue enrollment in our Phase 2b KATALYST-AV trial, we are entering a pivotal period with multiple clinical milestones expected over the next 12 months that will shape the registrational path for each of our medicines."
SK Hynix Raises $26.5B in Historic U.S. IPO
With a quiet IPO calendar last week, SK Hynix took the spotlight, opening above its pricing in the largest U.S. listing by a foreign company in history, raising approximately $26.5B.LATEST IPOS AND DIRECT LISTINGS:SK Hynixopened on July 10 at $170 after pricing its U.S. IPO at $149 per ADR, or American Depositary Receipt. "Beyond raising capital, this listing is expected to serve as a turning point for SK Hynix, enabling the company to strengthen its ties with the next-generation computing ecosystem, unlock new business opportunities and deepen strategic partnerships down the road," the company stated. SK Hynix, headquartered in Korea, is a semiconductor supplier offering Dynamic Random Access Memory chips, or DRAM, and flash memory chips, or NAND flash, for a wide range of customers globally.RECENT SPAC IPOS:Samos Energy Acquisitionopened on July 10 at $9.96. Cantor Fitzgerald is acting as the sole book running manager for the proposed offering.Freedom Metals Acquisitionopened on July 8 at $9.96. The blank check company may pursue an acquisition opportunity in any industry, sector or geographic region, but the company's primary focus will be on target businesses in the mining and critical minerals industry.Bleichroeder Acquisition IIIopened on July 7 at $10.04. Cohen & Company Capital Markets is acting as lead book-running manager for the offering.PERFORMANCE:As of about 12:30 pm ET on Monday, July 13, SK Hynix was trading at $154.07.RECENT IPOS TO WATCH:Kardiganand Deep Fissionare seeing coverage roll out as the quiet periods for banks that underwrote the companies' IPOs expire.UPCOMING IPOS:Upcoming IPO and direct listings expected include Jersey Mike's Subs, Inspire Brands, and Tarsier Pharma.Clickto see upcoming IPO calendar on TipRanks.Jersey Mike's Subs has filed an initial public offering of shares of Class A common stock. The company has applied to list its shares of Class A common stock on the New York Stock Exchange under the trading symbol "JMKE." Morgan Stanley, Jefferies, and J.P. Morgan are acting as global coordinators and joint bookrunning managers for the offering. Barclays and Guggenheim Securities are acting as co-global coordinators and joint bookrunning managers. BofA Securities, Goldman Sachs, Evercore ISI, UBS Investment Bank, Baird, Wells Fargo Securities, William Blair, RBC Capital Markets, Deutsche Bank Securities, Wolfe Nomura Alliance, Piper Sandler, Raymond James, Stifel, TD Securities, BTIG, Mizuho, Societe Generale, and Truist Securities are acting as joint bookrunning managers. Blackstone Capital Markets, Loop Capital Markets, and Tigress Financial Partners are acting as co-managers.Inspire Brands announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. Inspire Brands expects to use the net proceeds of the proposed offering to repay outstanding indebtedness under its existing term loan facility and pay offering fees and expenses.Tarsier Pharma Ltd. filed for an initial public offering of its ordinary shares and applied to list its ordinary shares on the NYSE American under the symbol "TARX". The prospectus stated: "Tarsier Pharma is developing TRS01 and TRS02, novel product candidates based on dazdotuftide, a new molecule with a new mechanism of action for uveitis and uveitic glaucoma. We are attempting to address a significant, underserved market opportunity and have engaged closely with the FDA on our clinical development strategy, including a Special Protocol Assessment agreement for our planned pivotal trial... Although we are still early in this journey, I believe we have the technology, the team, the discipline, and the persistence required to build an enduring company.""Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.
Joulent Secures $1.75B Strategic Investment from National Grid
Private company dealmaking stayed active this week, led by Joulent's $1.75B strategic investment from National Grid and a slate of sizable raises across energy infrastructure, enterprise software, AI development, geothermal power, and sports media.This week's private company news:Jeff Bezos' Blue Origin is raising outside capital for the first time, in a round valuing the rocket company at $130B, sources told.Some of the biggest capital raises by private companies this week include:Joulent– The technology-driven energy company developing multi-gigawatt power infrastructure to meet the accelerating demands of American industry and innovation said that National Grid has agreed to a $1.75B strategic minority investment in the company. Publicly-traded companies operating in the same space include NextEra, Constellation Energy, and GE Vernova.LeapXpert– The Governed Communication Intelligence company announced a $180M growth investment led by Riverwood Capital. Publicly-traded companies operating in the same space include Microsoft, Proofpoint, and Commvault.8090– The AI-native software factory founded by Chamath Palihapitiya raised $135M. The fundraise was led by Salesforce. Publicly-traded companies operating in the same space include ServiceNow, Palantir, and Atlassian.Quaise Energy– The developer of utility-scale superhot geothermal energy announced the first close of its Series B financing, raising $134M with additional equity and debt capital expected to close imminently. The round was led by Prelude Ventures, with strategic investments from JERA and Idemitsu, two of Japan's largest energy companies. Publicly-traded companies operating in the same space include Calpineand Ormat Technologies.The Premier Lacrosse League– The company announced the closing of a $100M Series E financing round led by Ares and Joe Tsai. Publicly-traded companies operating in the same space include Disney, TKO Group, and MSG Sports.Unicorns to watch this week:Anthropic– The company continues to be one of the most strategically important AI companies globally, with accelerating enterprise adoption. It has recently closed multibillion dollar funding cycle over the past year; expanding Claude enterprise deployments and model distillation partnerships. Publicly-traded companies operating in the same space include Alphabet, Microsoft, and Amazon.Rippling– The company continues to disrupt legacy HR/payroll stacks with unified workflows. Publicly-traded companies operating in the same space include Workday, Paycom, and ADP.Anduril Industries– The autonomous defense systems, AI-powered surveillance, and drone tech company continues to be one of the fastest growing defense unicorns, reshaping procurement with software first systems. It has recently won multiple Department of War contracts, with expanding Lattice OS deployments across U.S. and allied defense programs. Publicly-traded companies operating in the same space include RTX, Northrop Grumman, and Lockheed Martin.Databricks– The software company focused on data analytics and AI continues to be a core player in enterprise AI infrastructure and a likely future IPO candidate. Publicly-traded companies operating in the same space include Snowflake, MongoDB, and Palantir.Redwood Materials– The company is positioned at the center of U.S. battery materials reshoring and EV sustainability, and it has recently secured major supply agreements with automotive OEMs and is expanding Nevada and South Carolina facilities. Publicly-traded companies operating in the same space include Li-Cycle, Albemarle, and Tesla.IPOs to watch:Jersey Mike's Subs– The company has filed an initial public offering of shares of Class A common stock. Morgan Stanley, Jefferies, and J.P. Morgan are acting as global coordinators and joint bookrunning managers for the offering.Kardigan– The company has filed an initial public offering of shares of its common stock. JP Morgan, Jefferies, Leerink Partners, and TD Cowen are acting as the underwriters for the offering.Inspire Brands – The company announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. Inspire Brands expects to use the net proceeds of the proposed offering to repay outstanding indebtedness under its existing term loan facility and pay offering fees and expenses.Tarsier Pharma Ltd.– The company filed for an initial public offering of its ordinary shares. The prospectus stated, "Tarsier Pharma is developing TRS01 and TRS02, novel product candidates based on dazdotuftide, a new molecule with a new mechanism of action for uveitis and uveitic glaucoma. We are attempting to address a significant, underserved market opportunity and have engaged closely with the FDA on our clinical development strategy, including a Special Protocol Assessment agreement for our planned pivotal trial... Although we are still early in this journey, I believe we have the technology, the team, the discipline, and the persistence required to build an enduring company.""Private Markets" is The Fly's recurring series of stories on the latest moves in the private sector, largest unicorn companies and initial public offerings to watch. Fly subscribers, add $PRIVATE to your portfolio for alerts on breaking news in the startup and venture capital space.
Bending Spoons IPO Priced at $29, Opens at $31
Several companies made their market debuts last week, with Bending Spoons, ITG and Neutron Holdings opening for trading across a mix of pricing levels.LATEST IPOS AND DIRECT LISTINGS:Bending Spoonsopened on July 1 at $31.00. The company priced its 57.97M share initial public offering at $29.00, above the $26.00-$28.00 range. Bending Spoons is a digital applications company whose portfolio includes note-taking app Evernote, video platform Vimeo, events marketplace Eventbrite and AOL.ITG, Inc.opened on July 1 at $18. The company priced 19.51M shares at $16.00, below the $19.00-$22.00 range. ITG is a provider of end-to-end services to the communications and digital infrastructure industries.Neutron Holdingsopened on July 1 at $27. The firm priced 6.96M shares at $25.00, in the middle of the deal range of $24.00-$26.00. Neutron Holdings, doing business as Lime, describes itself as "a leading global shared micromobility business" that partners with cities to deploy e-bikes and e-scooters to serve shorter distance trips.RECENT SPAC IPOS:Viking Acquisition Corp. IIopened on July 2 at $10.04. The blank check company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region.Osprey Acquisition IIIopened on July 1 at $10.03. The blank check company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution, but says its primary focus will be to "identify companies that are deploying disruptive technologies and next-generation infrastructure that modernize energy systems, enable AI-driven optimization, and support the resilient, sustainable backbone of global connectivity."PERFORMANCE:Prices as of 10:30 am ET on Monday, July 6 -Bending Spoons – down over 6% at $33.76;ITG, Inc. – down about 6% at $14.60;Neutron Holdings – fractionally down at $24.88.RECENT IPOS TO WATCH:SpaceX, Forbright, ERock, and WhiteHawk Mineralsare already seeing coverage roll out, while Avalanche Treasury Co.is among stocks that could see new coverage this week as the quiet periods for banks that underwrote the companies' IPOs expire.UPCOMING IPOS:Upcoming IPO and direct listings expected include Jersey Mike's Subs, Kardigan, Inspire Brands, and Tarsier Pharma.Clickto see upcoming IPO calendar on TipRanks.Jersey Mike's Subshas filed an initial public offering of shares of Class A common stock. The company has applied to list its shares of Class A common stock on the New York Stock Exchange under the trading symbol "JMKE." Morgan Stanley, Jefferies, and J.P. Morgan are acting as global coordinators and joint bookrunning managers for the offering. Barclays and Guggenheim Securities are acting as co-global coordinators and joint bookrunning managers. BofA Securities, Goldman Sachs, Evercore ISI, UBS Investment Bank, Baird, Wells Fargo Securities, William Blair, RBC Capital Markets, Deutsche Bank Securities, Wolfe Nomura Alliance, Piper Sandler, Raymond James, Stifel, TD Securities, BTIG, Mizuho, Societe Generale, and Truist Securities are acting as joint bookrunning managers. Blackstone Capital Markets, Loop Capital Markets, and Tigress Financial Partners are acting as co-managers.Kardiganhas filed an initial public offering of shares of its common stock. The company has applied to list its common stock on the Nasdaq Global Market under the symbol "KARD." JP Morgan, Jefferies, Leerink Partners, and TD Cowen are acting as the underwriters for the offering.Inspire Brandsannounced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. Inspire Brands expects to use the net proceeds of the proposed offering to repay outstanding indebtedness under its existing term loan facility and pay offering fees and expenses.Tarsier Pharma Ltd.filed for an initial public offering of its ordinary shares and applied to list its ordinary shares on the NYSE American under the symbol "TARX". The prospectus stated: "Tarsier Pharma is developing TRS01 and TRS02, novel product candidates based on dazdotuftide, a new molecule with a new mechanism of action for uveitis and uveitic glaucoma. We are attempting to address a significant, underserved market opportunity and have engaged closely with the FDA on our clinical development strategy, including a Special Protocol Assessment agreement for our planned pivotal trial... Although we are still early in this journey, I believe we have the technology, the team, the discipline, and the persistence required to build an enduring company."Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.
This page is for research only and is not investment advice. Models can be wrong. Past performance does not guarantee future results.