DPC News & Events

A handful of deals opened last week across metals exploration, aerospace components, and AI infrastructure, with Sinda, DPC Holdings, and DSC Holdings all making their market debuts.LATEST IPOS AND DIRECT LISTINGS:Sindaopened on June 26 at $10.80. The company priced 17.75M shares at $12.00, inside the $11.25-$13.25 target range. Sinda, a silver exploration company with mineral projects in Mexico.DPC Holdingsopened on June 25 at $44.00. The company priced 27.86M shares at $33.00. The deal size was increased to 27.86M shares from 23.3M and priced above the $28.00-$32.00 range. DPC Holdings, doing business as Doncasters, is an independent manufacturer of complex, highly engineered precision cast components and nickel- and cobalt-based superalloys primarily serving the high growth Aerospace and IGT end markets.DSC Holdingsopened on June 25 at $16. The company priced its initial public offering of 3M American depositary shares at $17 per ADS. The deal priced at the midpoint of the $16.00-$18.00 target range. DSC offers AI application infrastructure for China's used car industry.RECENT SPAC IPOS:Alpex Acquisitionopened on June 25 at $10.01. Alpex is a blank check company formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.Cartesian Growth Corporation IVopened on June 25 at $9.95. Cartesian is a blank check company organized for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.Gores Holdings XIopened on June 23 at $10.05. Santander is acting as the sole underwriter for the offering.PERFORMANCE:Prices as of 10.45 am ET on Monday, June 29Sinda – fractionally up at $12.03;DPC Holdings – up almost 3% at $48.44;DSC Holdings – down about 4% at $6.97.RECENT IPOS TO WATCH:Quantinuum, Innio, Sunshine Silver Mining & Refining, Applied Aerospace & Defense, and Liftoff Mobileare already 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 Bending Spoons, Kardigan, Inspire Brands, and Tarsier Pharma.Clickto see upcoming IPO calendar on TipRanks.Bending Spoons, a technology company whose main businesses include AOL, Brightcove, Eventbrite, Evernote, Harvest, komoot, Remini, StreamYard, Vimeo, and WeTransfer, announces that it has publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its ordinary shares. The timing of the offering, number of shares to be offered, and the price range for the proposed offering have not yet been determined. Bending Spoons has applied to list its ordinary shares on the Nasdaq Global Select Market under the ticker symbol "BSP."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.

Kalshi led this week's private market news, as the company is said to be eyeing a $40B valuation in a new funding round, while Israel explores U.S. listings for defense firms IAI and Rafael and OpenAI signals it may wait until next year for its IPO.This week's private company news:Kalshi is into raise new funding at an approximately $40B valuation and could close the round as early as the third quarter of this year as it expands prediction market offerings and competes more directly with major derivatives and gambling companies, The Financial Times' Ivan Levingston, Amelia Pollard and George Steer report. Kalshi raised $1B at a $22B valuation in May.Israel is considering U.S. listings for state-owned defense companies Israel Aerospace Industries and Rafael Advanced Defense Systems to potentially avoid stricter domestic disclosure rules, with officials expected to visit the U.S. in July to evaluate IPO options, Bloomberg's Galit Altstein reports. According to an Israeli official familiar with the trip, possibilities include either a primary or dual listing. Publicly traded companies in the space include BAE Systems, Boeing, GE Aerospace, General Dynamics, HII, L3Harris Technologies, Lockheed Martin, Northrop Grummanand RTX.OpenAI is leaning toward waiting until next year for its public listing, The New York Times' Rob Copeland and Mike Isaac report, citing three people involved in the company's deliberations.Some of the biggest capital raises by private companies this week include:Peregrine– Peregrine Technologies announced aat a $6.8B valuation. The round was led by existing investors, including Fifth Down Capital, Sequoia Capital, OG Venture Partners, Goldcrest Capital, XYZ Ventures, and Godfrey Capital. Publicly-traded companies operating in the same space include Palantirand Axon Enterprise.Runpod- AI Developer Cloud Runpod announced aled by Summit Partners. Runpod is now valued at $1B. Publicly-traded companies operating in the same space include  CoreWeaveand DigitalOcean.xCures- xCures, a healthcare data company focused on improving healthcare outcomes, announced the close of aled by Innovius Capital, with participation from iGrow, GKCC, Spring Mountain Capital, and existing investors. The new capital brings xCures' total funding to more than $76M. Publicly-traded companies operating in the same space include Tempus AI.Unicorns to watch this week:Airwallex -The global payments company has raised $320M in a Series H funding round, valuing it at $11B, a 38% increase from just six months ago, as the fintech firm doubles down on AI-powered financial software.The latest funding round was led by New York venture capital firm Addition, with investment from funds including Baillie Gifford, Hummingbird, QED Investors, T. Rowe Price, Washington University in St. Louis and Amex Ventures.General Intuition -The AI startup has raised $320M in a funding round led by Khosla Ventures. General Catalyst, former Google CEO Eric Schmidt, and Amazon founder Jeff Bezos also participated in the round, which gave General Intuition a post-money valuation of $2.3B.DeepSeek -The Chinese company plans to double its workforce after raising more than $7.4B in its first funding round, as it looks to compete with OpenAI and Anthropic.Other IPOs to watch:Doncasters -The aerospace parts maker said on Wednesday it had raised $919.3M in its U.S. IPO. The company sold 27.9 million shares in the IPO at $33 per share, above the marketed range of $28 and $32 apiece. It began trading on the New York Stock Exchange under the ticker symbol DPC.MetaOptics -The company is set to price its U.S. IPO on June 26, 2026. The Singapore-based metalens manufacturer is offering 4 million American Depositary Shares at an estimated price range of $5 to $7, targeting to raise approximately $18M. It will trade on Nasdaq Global Market under the ticker symbol MOT.Futurewave Acquisition Corporation -The Cayman Islands blank check company priced its IPO of 7,500,000 units at $10.00 per unit. Each unit includes one ordinary share, one redeemable warrant exercisable at $11.50, and one right for one-fourth of a share. The shares began trading on Nasdaq Global Market under the ticker symbol FWAC.Alpex Acquisition Corporation -The blank check company announced the pricing of its IPO of 10M units at $10.00 per unit. The units will trade on the Nasdaq Global Market the ticker symbol ALPX."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.

DPC Holdings priced 27.86M shares at $33.00. The deal size was increased to 27.86M shares from 23.3M and priced above the $28.00-$32.00 range. Jefferies, Morgan Stanley, Barclays, Moelis, RBC Capital and Roth Capital are acting as joint book running managers for the offering. DPC Holdings, doing business as Doncasters, is an independent manufacturer of complex, highly engineered precision cast components and nickel- and cobalt-based superalloys primarily serving the high growth Aerospace and IGT end markets.