Here is a quick roundup of notable updates from our component companies:
CoreWeave IPO
CoreWeave IPO’d on March 28 at $40 per share. After a volatile debut, the stock is now trading around $53. Early investors, including Magnetar, saw strong returns, while others who participated in a late 2024 tender offer at $46.99 may have been less satisfied. Ahead of the IPO, secondary traders were paying up to $63.25, according to Caplight data. The broader market for tech IPOs remains unsettled as the current rout continues in the public markets.
New Filings
- Nuro filed a Series E on April 1 at $12.80, down from its Series D price of $20.85.
- C2FO filed a Series I on March 26 at $11.18, significantly lower than its previous Series H price of $31.01.
- Komodo Health completed a flat Series F round on March 31, pricing it the same as its Series E.
Circle IPO Filing
Circle officially filed for its long-anticipated IPO on April 1. The company reported $1.68 billion in 2024 revenue, with over 99% coming from interest on stablecoin reserves. Circle previously attempted to go public via SPAC in 2022 but incurred significant costs when the deal fell through. The IPO is being led by JPMorgan Chase and Citi, with the company aiming for a valuation between $4 billion and $5 billion, according to Fortune.
Cerebras IPO Update
Cerebras received CFIUS clearance, a key regulatory step toward its IPO. The AI chipmaker, which filed last September, has not yet set a trading date but is moving forward after resolving concerns around its partnership with Group 42.