IPO Journey

Madison Air Solutions Corp

IPO Date: April 17, 2026 · 4 filings tracked

Final Offer Terms

Ticker

MAIR

Exchange

New York Stock Exchange

Offer Price

$27.00

Shares Offered

82,692,308

Estimated Proceeds

$2.2B

Underwriters

Led by Goldman Sachs & Co. LLC, Barclays

S-1

March 9, 2026

High-margin 'razor-and-blade' business model with 60% of sales from recurring aftermarket parts and filters.
Strategic exposure to the AI and data center boom through specialized, high-performance cooling solutions.

S-1/A

March 16, 2026

Specialized manufacturer of high-tech HVAC components and smart air-quality controls.
Diversified revenue model combining product sales with high-margin recurring software subscriptions.

Changes from previous filing

S-1/A

April 6, 2026

Changes from previous filing

424B4 Final Pricing

April 17, 2026

Focus on high-stakes, essential infrastructure sectors like hospitals and data centers
Proprietary parts model creates a predictable, recurring revenue stream

Changes from previous filing

▸ Price range removed
▸ Final offer price: $27.0 per share
▸ Estimated proceeds: $2232M
▸ Underwriters: Goldman Sachs & Co. LLC, Barclays, Jefferies, Wells Fargo Securities, BofA Securities, Citigroup, Baird, RBC Capital Markets, Guggenheim Securities, Santander, Wolfe | Nomura Alliance, CIBC Capital Markets, Comerica Securities, William Blair, Stifel, Capital One Securities, PNC Capital Markets LLC

Disclaimer: AI-generated analysis for informational purposes only. Not financial advice. Always conduct your own research.