Cardinal Infrastructure Group Inc.

Cardinal Infrastructure Group Inc. (CDNL) priced its initial public offering on Dec 10, 2025 at $21.00 per share, within its $20.00–$22.00 range, raising $241.5M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $277.6M. Stifel was lead-left underwriter, joined by William Blair and Blair Lead Manager D.A. Davidson. Willkie Farr & Gallagher advised the company and Latham & Watkins advised the underwriters.

Status

IPO

Ticker

CDNL

Exchange

Nasdaq Global Select

Priced

Dec 10, 2025

IPO price

$21.00

Price range

$20.00–$22.00

Raised

$241.5M

Market cap at IPO price

$277.6M

First filed

Oct 14, 2025

Underwriters

Stifel, William Blair and Blair Lead Manager D.A. Davidson

Company counsel

Willkie Farr & Gallagher

Underwriters' counsel

Latham & Watkins

Sector

Other

Country / state

NC

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.