Ives Ultra AI Opportunities raises $200M in NYSE IPO at $10 a share
Ives Ultra AI Opportunities Inc. priced its initial public offering of 20 million shares at $10 each on September 30, 2026, raising $200 million before fees. The shares were expected to begin trading on the New York Stock Exchange the same day, with the offering set to close October 1. Cohen & Company Capital Markets acted as sole bookrunner.
Key points
- 20 million shares priced at $10 each for a $200 million IPO on NYSE
- Fund must complete tender offer within 12 months; proceeds held in trust until then
- Adviser has no prior closed-end fund experience; company has no operating history
The fund is a closed-end investment company that plans to invest at least 80% of its net assets in late-stage private AI and AI infrastructure companies, primarily in the United States. It must complete a mandatory tender offer within 12 months to repurchase shares at redemption value, currently listed at $10. Until that tender offer is completed, IPO proceeds will sit in an interest-bearing trust account at U.S. Bank N.A. The adviser, Ives Ultra Capital Management LLC, has no prior experience managing a registered closed-end fund, and the company has no operating history.
Ives Ultra AI Opportunities Raises $200M in NYSE IPO at $10 a Share
Unite.AI · 30 September 2026
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