US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

US IPOs and Secondary Offerings

SailPoint IPO Preview: A Well-Established Provider of Identity Management, First SaaS US IPO In 2025

SailPoint IPO Valuation Analysis: Paying Debt With IPO Proceeds and $1B+ ARR in FY26

SailPoint, Inc. (SAIL) -- First Software IPO of the Year: Thoma Bravo Seeking $11.5b IPO Valuation

Thoma Bravo Agrees to Acquire Cybersecurity Player Darktrace

Darktrace: Undervalued Cyber Defense Unicorn. A Steep Discount Is Unjustified

IPOs and Secondary Offerings

Equity Capital Markets

Sailpoint Technologies Holdings / Equity Capital Markets

Sailpoint Technologies Holdings (SAIL US)

<ul>
<li>SailPoint, a company that delivers solutions to enable comprehensive identity security for the enterprise, filed for an IPO. </li>
<li>SailPoint is sponsor-backed by Thoma Bravo who took the company private in August 2022 for $6.9bn</li>
<li>As of January 31, 2022, 2023, and 2024, their ARR was $374.6 million, $520.1 million, and $681.8 million, respectively, representing year-over-year growth of 44%, 39%, and 31%, respectively.</li>
</ul>


SailPoint, a company that delivers solutions to enable comprehensive identity security for the enterprise, filed for an IPO. 
SailPoint is sponsor-backed by Thoma Bravo who took the company private in August 2022 for $6.9bn
As of January 31, 2022, 2023, and 2024, their ARR was $374.6 million, $520.1 million, and $681.8 million, respectively, representing year-over-year growth of 44%, 39%, and 31%, respectively.


SailPoint, Inc. (SAIL) -- Thoma Bravo Backed Cybersecurity Company Ready for IPO (Again)