Lincoln International Inc., a global investment banking advisory firm, has priced its initial public offering at $20.00 per share, the company announced in a statement. The offering comprises 21,049,988 shares of Class A common stock.
Under the terms of the deal, the company also granted the underwriters a 30-day option to acquire an additional 3,157,498 shares at the IPO price, less underwriting discounts and commissions.
The firm said its Class A shares are expected to commence trading on the New York Stock Exchange on May 20, 2026, using the ticker symbol "LCLN." The offering is expected to close on May 21, 2026, subject to customary closing conditions.
Goldman Sachs & Co. LLC and Morgan Stanley are serving as joint lead book-running managers for the offering. BMO Capital Markets, Citizens Capital Markets and Evercore ISI are acting as bookrunners. Keefe, Bruyette & Woods, Stifel Company and Wolfe | Nomura Alliance are listed as co-managers.
The Securities and Exchange Commission declared the registration statement for the securities effective on May 19, 2026.
Lincoln International operates as an investment banking advisor, employing more than 1,400 professionals across 30 offices in 14 countries. The firm provides mergers and acquisitions advisory, private funds and capital markets advisory, and valuations and fairness opinions services.
Summary
The company has priced a 21,049,988-share offering at $20.00 per share and given underwriters a 30-day over-allotment option for 3,157,498 shares. Trading on the NYSE under the ticker LCLN is expected to begin May 20, 2026, with the transaction due to close on May 21, 2026, pending customary closing conditions. The SEC declared the registration statement effective on May 19, 2026.
Key Points
- Size and price - 21,049,988 Class A shares priced at $20.00 per share, with a 30-day underwriter option for 3,157,498 additional shares at the IPO price, less underwriting discounts and commissions.
- Timing and listing - Shares are expected to begin trading on the New York Stock Exchange on May 20, 2026, under the symbol LCLN; the offering is expected to close on May 21, 2026, subject to customary closing conditions.
- Advisory services footprint - Lincoln International operates with more than 1,400 professionals in 30 offices across 14 countries and offers M&A advisory, private funds and capital markets advisory, and valuations and fairness opinions services, indicating its footprint in financial and capital markets services.
Risks and Uncertainties
- Closing conditions - The offering is expected to close on May 21, 2026, but remains subject to customary closing conditions, which could delay or affect completion.
- Underwriter option dynamics - Underwriters have a 30-day option to buy an additional 3,157,498 shares at the IPO price, less discounts and commissions; exercise of that option could affect share supply and investor demand in financial markets.
- Regulatory timing - Although the Securities and Exchange Commission declared the registration statement effective on May 19, 2026, any subsequent regulatory or procedural matters could influence the timing or settlement of the offering.
Market and Sector Impact
The transaction pertains directly to the financial services and capital markets sectors, reflecting activity within investment banking advisory services and public equity issuance. The underwriting syndicate and the planned NYSE listing place the offering within the context of primary market capital formation.
This article presents the terms and structure of Lincoln International's initial public offering as disclosed by the company.