Madison Air Solutions Corporation has set the price for its initial public offering at $27.00 per share for 82.7 million Class A common shares, the company announced. Underwriters have been granted a 30-day option to buy up to an additional 12.4 million shares at the same IPO price, less underwriting discounts and commissions.
The company intends for the Class A shares to begin trading on the New York Stock Exchange on April 16, 2026, using the ticker symbol "MAIR." The offering is expected to close on April 17, 2026, subject to customary closing conditions.
Goldman Sachs & Co. LLC, Barclays, Jefferies and Wells Fargo Securities are listed as lead bookrunning managers on the offering. Additional book-running managers include BofA Securities, Citigroup, Baird, RBC Capital Markets, Guggenheim Securities, Santander, Wolfe | Nomura Alliance and CIBC Capital Markets.
In a transaction concurrent with the IPO, Madison Air said it has agreed to sell $100.0 million of Class B common stock to an entity controlled by founder Larry Gies at the IPO price. The company stated that the Class B shares involved in that private placement will not be registered under the Securities Act of 1933. The closing of the private placement is expected to occur at the same time as the IPO closing.
Madison Air operates as an air quality solutions provider for both commercial and residential markets. Its portfolio of brands includes Addison, AprilAire, Big Ass Fans, Broan-NuTone, Nortek Air Solutions, Nortek Data Center Cooling and Reznor. The company describes its offerings as focused on improving performance, protecting assets and creating healthier indoor environments.
The company also reported that a registration statement for the securities has been filed with and declared effective by the U.S. Securities and Exchange Commission.
Context and offering mechanics
The IPO pricing and the accompanying 30-day underwriter option establish the basic capital structure and potential dilution framework available to Madison Air at market debut. The concurrent private placement to an entity controlled by the founder, sold at the IPO price and not registered under the Securities Act, represents a separate funding event that will close alongside the public offering.
Listing and timeline
Trading is expected to commence on April 16, 2026, on the New York Stock Exchange under the MAIR ticker, with the offering expected to finalize on April 17, 2026, subject to the usual closing conditions that accompany public offerings.
What we know
- The IPO is priced at $27.00 per Class A share for 82.7 million shares.
- Underwriters have a 30-day option to buy up to 12.4 million additional shares.
- A concurrent private placement of $100.0 million of Class B shares will be sold to an entity controlled by founder Larry Gies at the IPO price; those Class B shares are not registered under the Securities Act.
- Goldman Sachs, Barclays, Jefferies and Wells Fargo Securities are the lead bookrunners, with several other firms acting as book-running managers.
- A registration statement has been filed with and declared effective by the U.S. Securities and Exchange Commission.