Neenah, Inc. Common Stock

NP

Market cap $537M

Six IPOs debuted this week, while seven SPACs listed, with eight IPOs submitted initial filings, including a handful of sizable issuers. While the US government shutdown complicates the start of the Q4 IPO market, two sizable offerings are lined up to price next week, as both made sure their registrations were declared effective by the SEC prior to the October 1st deadline. Street research is expected for seven companies in the week ahead, and six lock-up periods will be expiring.

Neptune Insurance surged on its IPO debut, despite only existing shareholders selling and no new capital raised for the company. NP leverages AI-driven platforms to disrupt the underpenetrated flood insurance market, focusing on efficiency and rapid growth, especially in Florida and Texas. Valuation is demanding at 25x revenue and 50x operating earnings post-IPO, but strong margins and >30% growth rates offer some justification.

Trevor Burgess, CEO of Neptune Insurance (NP), talks with Nicole Petallides about his company after debuting at the NYSE on Wednesday. He says his company is the only alternative to the U.S. National Flood Insurance Program, as he takes investors through what Neptune does to those impacted by severe flooding events.

Neptune Insurance shares jumped 12.5% in their New York Stock Exchange debut on Wednesday, valuing the company at nearly $3.11 billion and making it the latest insurer to capitalize on a buoyant listings market.

Neptune Insurance, the nation's largest private flood insurance, goes public on the New York Stock Exchange Wednesday. CEO Trevor Burgess sees opportunity to acquire customers while the government shutdown means the NFIP won't process new applications or new claims.

CNBC's Contessa Brewer sits down with Trevor Burgess, Neptune Insurance Holdings CEO, about the company's IPO, being open for business for those that need flood insurance while the Government is shut down, and much more.

CNBC's Contessa Brewer sits down with Trevor Burgess, Neptune Insurance Holdings CEO, about the company's IPO, being open for business for those that need flood insurance while the Government is shut down, and much more.

Neptune Insurance priced its New York initial public offering within its marketed range, raising $368 million, the flood insurance provider said on Tuesday.

One IPO and four SPACS debuted this week. Six IPOs and three SPACs submitted initial filings. Two sizable deals are currently scheduled to price in the week ahead as the 3Q IPO market comes to a close.

Neptune Insurance Holdings, Inc. is growing revenue and profits rapidly, capitalizing on the expanding U.S. private flood insurance market and favorable regulatory trends. The company operates as a managing general agent, generating recurring fee-based revenue without taking on claims risk, and boasts strong operational efficiency. Financials show impressive topline growth, high margins, and robust free cash flow, though geographic and partner concentration present risks.