Gunderson Dettmer Represents Client Andersen Group in its $176 million IPO

Andersen Group (NYSE: ANDG) priced its initial public offering of 11,000,000 Class A shares at $16 per share (top of $14–$16 range), raising an expected $176 million in gross proceeds before underwriter option, discounts and offering expenses.

Rhea-AI Summary

Andersen Group (NYSE: ANDG) priced its initial public offering of 11,000,000 Class A shares at $16 per share (top of $14–$16 range), raising an expected $176 million in gross proceeds before underwriter option, discounts and offering expenses. The shares began trading on the New York Stock Exchange on December 17, 2025, and the offering is expected to close on December 18, 2025. The deal used a UP-C structure. Morgan Stanley and UBS acted as lead book‑running managers; several other banks participated. Gunderson Dettmer served as legal counsel to Andersen Group.

Positive

• $176 million gross proceeds expected
• Priced at $16 per share (top of range)
• 11,000,000 Class A shares sold
• Shares began trading on Dec 17, 2025 on NYSE

Negative

• Gross proceeds are before underwriting discounts and expenses
• Offering used a complex UP-C structure

Argus Dec 18 session

+8.09% close to close Open Argus

Details

News Market Reaction – ANDG

On Dec 18, the day this news came out, ANDG closed 8.09% above the previous close.

Data tracked by StockTitan Argus for the Dec 18 session.

Market Context

On Dec 18, the day this news came out, the stock closed 8.1% above the previous close. A strong posi...

Analysis

On Dec 18, the day this news came out, the stock closed 8.1% above the previous close. A strong positive reaction aligns with a newly listed stock trading near its early highs after an IPO that raised $176 million at the top of a $14–$16 range. Investors could weigh how the float of 11,000,000 shares and initial valuation interact with trading liquidity. Historical data here is limited, so future moves may hinge on post-IPO earnings, execution and any follow-on equity activity.

Key Figures

IPO gross proceeds: $176 million IPO shares: 11,000,000 shares IPO price: $16 per share +3 more

IPO gross proceeds

$176 million

Initial public offering, before discounts/expenses

IPO shares

11,000,000 shares

Class A common stock offered

IPO price

$16 per share

Public offering price at top of $14–$16 range

IPO price range

$14–$16

Marketed price range for IPO

Listing date

December 17, 2025

Shares began trading on NYSE

Current price

$23.5

Pre-news market context vs 52-week high $24.48/low $20

Key Terms

initial public offering, class a common stock, up-c structure, underwriters' option, +1 more

5 terms

initial public offering financial

"in its initial public offering of 11,000,000 shares of its Class A"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

class a common stock financial

"11,000,000 shares of its Class A common stock, at a public"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

up-c structure financial

"The offering, which used a complex UP-C structure, is expected"

An up‑C structure is a two‑layer company setup often used in public listings where the operating business is owned by a partnership and public investors buy shares of a separate corporation that holds partnership interests. Think of it like buying stock in a holding company while the original owners keep a special stake in the business that preserves tax benefits. It matters because it can create tax advantages for sellers but adds tax complexity for investors, different cash‑flow claims and potential future dilution.

underwriters' option financial

"without giving effect to the underwriters' option to purchase additional"

An underwriters' option is a short-term right given to the banks handling a new stock or bond sale to buy extra shares from the issuer, usually up to a fixed percentage, to stabilize the price after the offering. For investors this acts like a safety valve: it can reduce wild price swings by allowing underwriters to add or return shares as demand changes, which helps prevent a newly issued security from falling or spiking sharply.

book-running managers financial

"Morgan Stanley and UBS Investment Bank acted as lead book-running managers"

Book-running managers are the main banks or financial firms that organize and oversee a company's sale of new stocks or bonds. They help set the price, decide how many to sell, and coordinate the process to make sure everything runs smoothly. Their role is important because they guide the company through the complex process of raising money from investors.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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REDWOOD CITY, Calif., Dec. 18, 2025 /PRNewswire/ -- Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP represented Andersen Group Inc. (NYSE: ANDG), a leading provider of independent tax, valuation and financial advisory services to individuals and family offices, businesses and funds in the United States, in its initial public offering of 11,000,000 shares of its Class A common stock, at a public offering price of $16 per share, at the top end of its $14 to $16 marketed range. The offering, which used a complex UP-C structure, is expected to raise $176 million in gross proceeds, without giving effect to the underwriters' option to purchase additional shares and before deducting underwriting discounts and commissions and other offering expenses. The shares began trading on the New York Stock Exchange on December 17, 2025, and the offering is expected to close today.

Morgan Stanley and UBS Investment Bank acted as lead book-running managers for the offering. Deutsche Bank Securities, Truist Securities and Wells Fargo Securities acted as book-running managers for the offering. Baird and William Blair acted as additional book-running managers for the offering.

The Gunderson deal team was led by corporate partners Jay Hachigian and Richard Hesp; Public Companies/Public Offerings partners Jeff Vetter, Alexa Belonick and Elena Vespoli; Public Companies/Public Offerings associate Max Noreng; corporate associates Wesley Sheker, Alex Bloom and Tyler Vandre; tax partners Jaime Narayan and Mark Foster; executive compensation partner Elizabeth Webb; executive compensation associate Sofia Rattes; and senior paralegal Scott Paraker.

About Gunderson Dettmer

Gunderson Dettmer is the preeminent international law firm with an exclusive focus on the innovation economy. The firm serves market-leading venture capital and growth equity investors and pioneering companies through inception, growth and maturity, as well as groundbreaking public companies that result from the global venture capital ecosystem. The firm's clear-cut focus and well-honed technical skill enables an accelerated pace and unmatched efficiency, delivering best-in-class value at each phase of a client's business.

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SOURCE Gunderson Dettmer

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did Andersen Group (ANDG) sell in its IPO and at what price?

Andersen Group sold 11,000,000 Class A shares at $16 per share.

How much gross capital did Andersen Group (ANDG) raise in the IPO?

The offering is expected to raise $176 million in gross proceeds before fees.

When did Andersen Group (ANDG) begin trading on the NYSE?

Andersen Group shares began trading on the NYSE on December 17, 2025.

Which banks led the Andersen Group (ANDG) IPO?

Morgan Stanley and UBS Investment Bank acted as lead book‑running managers.

Will Andersen Group (ANDG) net proceeds equal $176 million?

No; $176 million is gross proceeds before underwriting discounts, commissions and offering expenses.

What structural form did the Andersen Group (ANDG) offering use?

The offering used a UP-C structure, as stated in the announcement.