The IPO Buzz: ITG Inc. (ITG) Prices its IPO at $16 – $3 Below Range

ITG, Inc. (ITG) priced its IPO at $16.00 – $3.00 below its $19.00-to-$22.00 range – and sold 19.51 million shares – the number in the prospectus – to raise $312.16 million. At pricing, ITG had a market cap of $1.94 billion.

Shares of ITG are expected to start trading tomorrow – Wednesday, July 1, 2026 – on the NASDAQ.

The Fort Lauderdale, Florida-based engineering services company is focused on broadband and utility infrastructure for top-tier clients, including broadband and fiber service providers, wireless carriers, data center operators and utilities, mostly under long-term master service agreements, according to the prospectus.

Morgan Stanley, Citigroup, UBS Investment and Stifel led the joint book-runners team. BofA Securities, Baird, Santander, KeyBanc Capital Markets and Truist Securities rounded out the joint book-running team.

ITG runs its business in two segments: Engineering & Maintenance, which offers network operations and planned maintenance, and Infrastructure Deployment, which plans, designs and builds new and expanded networks. ITG was founded in 2014 by industry veterans – predominantly people who began their careers as field technicians, according to the prospectus.

The company has completed 22 acquisitions since 2019.

The IPO’s proceeds are earmarked to pay off $361 million of debt, the prospectus said. ITG had about $718.9 million in total debt outstanding at March 31, 2026.

ITG has a partnership with AWS (Amazon Web Services).

Two customers – Comcast and Charter Communications – provide a substantial percentage of ITG’s revenue, the prospectus said.

ITG, Inc. is not profitable: Net loss of $8.46 million on revenue of $1.26 billion for the 12 months that ended on March 31, 2026, according to the prospectus.

(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)

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