The IPO Buzz: Lincoln International (LCLN) Prices IPO at $20 – Top of Range

Lincoln International (LCLN) priced its IPO at $20.00 – the top of its $18.00-to-$20.00 range – and sold 21.05 million shares – the number in the prospectus – to raise $421 million on Tuesday night, May 19, 2026. Chicago-based Lincoln International’s stock is expected to start trading tomorrow – Wednesday, May 20, 2026 – on the New York Stock Exchange.

At pricing, Lincoln International had a market cap of about $2.04 billion.

Goldman Sachs and Morgan Stanley led the joint book-running team, which included BMO Capital Markets, Citizens Capital  and Evercore ISI.

Lincoln International plans to use some of the IPO’s proceeds to repay about $186 million in debt under the Term Loan Credit Facility, according to the prospectus.

Lincoln International intends to pay a quarterly cash dividend of 7 cents a share – or 28 cents a share per year, the prospectus said.

Of the 21.05 million shares in the IPO, the company offered 20.6 million shares and the selling stockholders offered 445,942 shares, the prospectus said.

After the IPO, LILP Controlling Partners will own a stake representing about 87 percent of the voting power of Lincoln International’s outstanding capital stock.

Lincoln International, founded in 1996, is a global independent investment banking advisory firm focused on the private capital markets. It advises private equity and private credit investors, private company business owners and other senior executives. Its business includes M&A (mergers and acquisitions) advisory services, capital advisory, private funds advisory and other services. At year-end 2025, Lincoln International had about 1,400 professionals serving its clients in more than 30 offices in 14 countries throughout the Americas, Europe, the Middle East and Asia, according to the prospectus.

Lincoln International is profitable. The company earned net income of $192.11 million on revenue of $809.4 million for the 12 months that ended March 31, 2026, according to financial statements in the prospectus.

(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)

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