The tax and financial advisory firm plans to list on the New York Stock Exchange under the symbol “ANDG,” with an initial offering of 11 million shares.
Andersen Group Inc., a provider of tax, valuation and financial advisory services, has initiated the roadshow for its proposed initial public offering. The company announced it plans to offer 11,000,000 shares of its Class A common stock, with an anticipated price range of $14.00 to $16.00 per share.
Based on this price range, the offering could raise between $154 million and $176 million for the firm. Andersen has been approved to list its stock on the New York Stock Exchange under the ticker symbol “ANDG.”
In addition to the primary offering, Andersen intends to grant the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of its Class A common stock. If this option is fully exercised at the top of the price range, the total proceeds could exceed $200 million.
A consortium of financial institutions is managing the offering. Morgan Stanley and UBS Investment Bank are serving as lead book-running managers. They are joined by Deutsche Bank Securities, Truist Securities, and Wells Fargo Securities as book-running managers, with Baird and William Blair also participating as additional book-running managers.
A registration statement for the securities has been filed with the U.S. Securities and Exchange Commission (SEC) but has not yet become effective. The company noted that the securities may not be sold, nor may offers to buy be accepted, until the registration statement is declared effective by the SEC.
SOURCE: Andersen
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