ITG, Inc. Announces Closing of Initial Public Offering
Rhea-AI Summary
ITG (Nasdaq: ITG) closed its initial public offering of 22,439,025 Class A shares at $16.00 per share, including the full underwriters’ option of 2,926,829 shares. Trading on the Nasdaq Global Select Market began July 1, 2026 under ticker ITG.
The company received approximately $323.4 million in net proceeds, which it plans to use to repay outstanding debt under its revolving and term loan facilities and for general corporate purposes to support business growth.
Positive
- IPO raises approximately $323.4 million in net proceeds
- Listing on Nasdaq Global Select Market under ticker ITG
- Underwriters’ option fully exercised for 2,926,829 additional shares
- Planned debt repayment on revolving and term loan facilities
- Additional capital earmarked for general corporate purposes and growth
Negative
- Large equity issuance of 22,439,025 Class A shares
- Net proceeds partly used to repay existing indebtedness
News Market Reaction – ITG
On the day this news was published, ITG declined 4.98%, reflecting a moderate negative market reaction. Argus tracked a trough of -16.9% from its starting point during tracking. Our momentum scanner triggered 52 alerts that day, indicating high trading interest and price volatility. This price movement removed approximately $108M from the company's valuation, bringing the market cap to $2.06B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Key Terms
initial public offering financial
form s-1 regulatory
nasdaq global select market financial
revolving credit facility financial
term loan facility financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
FORT LAUDERDALE, Fla., July 02, 2026 (GLOBE NEWSWIRE) -- ITG, Inc. (Nasdaq: ITG) (“ITG” or the “Company”), a leading provider of end-to-end services to the communications and digital infrastructure industries, today announced the closing of its initial public offering (the “offering”) of 22,439,025 shares of its Class A common stock (the “Common Stock”), which included an additional 2,926,829 shares of Common Stock following the exercise in full of the underwriters’ option to purchase additional shares of Common Stock from the Company, at a price to the public of
The Company received net proceeds of approximately
Morgan Stanley, Citigroup, UBS Investment Bank and Stifel acted as joint bookrunners and representatives of the underwriters for the offering. BofA Securities, Baird, Santander, KeyBanc Capital Markets and Truist Securities also acted as joint bookrunners. Houlihan Lokey, BTIG, Capital One Securities and Regions Securities LLC acted as co-managers.
A registration statement on Form S-1 relating to these securities has been filed with the SEC and was declared effective by the SEC on June 30, 2026. The offering was made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Copies of the final prospectus may be obtained from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); UBS Securities LLC, Attention: Prospectus Department, 11 Madison Avenue, New York, New York 10010, or by email at ol-prospectus-request@ubs.com; and Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, 1201 Wills St., Suite 600, Baltimore, MD 21231, by telephone at (855) 300-7136 or by email at SyndProspectus@Stifel.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About ITG, Inc.
ITG is a leading provider of end-to-end services to the communications and digital infrastructure industries throughout the United States. ITG supports the planning, design, construction, operation, maintenance, and expansion of broadband, wireless, data center, utility, and civil infrastructure. With a workforce operating across 49 states, ITG is positioned to build and maintain the digital backbone powering our future.
Forward Looking Statements
This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. Forward-looking statements can be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would” or similar expressions and the negatives of those terms. Such statements are not historical facts but rather are based on the Company’s current expectations or beliefs concerning future events. It is that the results described in this press release will not be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including those described in the Company’s registration statement filed with the SEC. Given these uncertainties, you should not place undue reliance on forward-looking statements. Any forward-looking statement speaks only as of the date on which it was made, and the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the final prospectus filed by the Company with the SEC in connection with the Company’s initial public offering.
Contact:
Chris Mecray
917-517-3388
chris.mecray@itgcomm.com
