Madison Air Solutions Corp. (MAIR) priced its IPO at $27.00 – the top of it $25.00-to-$27.00 range – and sold 82.69 million shares – the number in the prospectus – to raise $2.23 billion on Wednesday, April 15, 2026. The pricing news came early – within about an hour of the closing bell. At pricing, Madison Air had a market cap of $13.2 billion. (Editor’s Note: This column, posted late Wednesday, April 15, 2026, was updated midday -Thursday, April 16 – with news on Madison Air’s NYSE debut.)
Madison Air’s stock shot higher in its New York Stock Exchange debut at midday on Thursday, April 16, 2026 – opening at $32 – up $5.00 from its IPO price for an 18.5 percent gain – at around 12:48 p.m. EDT. Shortly before 1 p.m. EDT, Madison Air’s stock was trading at $31.22 on volume of 10.2 million shares, according to the NYSE.
Goldman Sachs, Barclays, Jefferies and Wells Fargo Securities were the joint lead book-runners.
Madison Air said it intends to use some of the IPO’s proceeds to pay off about $2.15 billion in debt, according to the prospectus.
The Chicago-based company has about $3.5 billion in debt, the prospectus said.
The cornerstone investors – Counterpoint Global (Morgan Stanley Investment Management), Durable Capital Partners LP and HRTG GPE, LLC – had indicated an interest in buying up to $525 million of stock in the IPO, the prospectus said.
Madison industries Holdings, an entity controlled by Larry Gies, Madison Air’s founder, had agreed to buy $100 million of Class B common stock from Madison Air in a concurrent private placement, the prospectus said.
After the IPO, Larry Gies will control the company through his stake that represents 100 percent of the voting power of Madison Air’s Class B common stock, the prospectus said.
Madison Air Solutions Corp. (MAIR), based in Chicago, runs a commercial business that serves hospitals and other facilities in the health-care sector, along with data centers, manufacturing facilities and the logistics sector, the prospectus said.
It also runs a residential business that includes its AprilAire Healthy Air System.
But its best-known brand, without a doubt, is the Big Ass brand of ceiling fans – a brand beloved by car dealerships and homeowners alike.
Madison Air is profitable: Net income of $124.3 million on revenue of $3.34 billion for the year that ended Dec. 31, 2025, according to financial statements in the prospectus.
(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
(For more information about this company, please check the Net income of $124.3 million on revenue of $3.34 billion for the year that ended Dec. 31, 2025, according to financial statements in the prospectus.
(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.