Sept 30 (Reuters) – Shares of data center infrastructure firm Accelevation opened 2.5% below their initial public offering price on Wednesday, giving the company a valuation of $3.92 billion in its Nasdaq debut.
The Miamisburg, Ohio-based company’s shares opened at $17.55 apiece, compared with their offer price of $18.
Accelevation provides power distribution, cooling, structural systems and installation services for data centers.
The company and selling shareholders raised $540 million in a US initial public offering on Tuesday, after they sold about 30 million shares, below the marketed range of $20 to $24 each.
The debut comes as the US IPO market enters the fall on uncertain footing, with heightened volatility and investor caution weighing on the typically busy listing season and prompting some companies to push back their flotation plans.
The AI infrastructure sector has also faced setbacks, including the reported delay of SB Energy’s expected IPO and a dispute involving Oracle and Blue Owl that could delay a data center project in New Mexico.
Founded by Michael and Shawn Rubiera in 2017, Accelevation has grown rapidly, with revenue rising to $447.8 million in 2025 from less than $3 million in 2021. It was acquired by private equity firm Olympus Partners from LFM Capital last year.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Diti Pujara and Joyjeet Das)
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