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Navan and MapLight Lead Post-Shutdown US IPO Revival with Nearly $1.2 B Raised
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Navan and MapLight Therapeutics raised $1.17 B combined in IPO debuts, signaling revived US listing activity and improving risk appetite after the shutdown.
Corporate travel platform Navan and biotech firm MapLight Therapeutics spearheaded the rebound of US IPOs after the October government shutdown. Navan priced its debut at $27 per share, raising $923 million at an $8.1 billion valuation, while MapLight secured $251 million at $17 per share. Both listings were oversubscribed, marking renewed investor appetite in tech and biotech. The Nasdaq IPO Index climbed 4.2 percent post-launch, outperforming the S&P 500. Analysts said strong pricing momentum signals investor rotation back into growth sectors as monetary-policy uncertainty subsides.