Cardinal Infrastructure Group Price IPO Of 11.50 Mln Shares At $21.00/shr

(RTTNews) - Cardinal Infrastructure Group Inc. (CDNL), a full-service turnkey infrastructure services company based in the Southern United States, announced the pricing of its initial public offering of 11.50 million shares of its Class A Common Stock. The shares will be offered at a public price of $21.00 per share, resulting in total gross proceeds of approximately $241.50 million before deducting underwriting discounts, commissions, and other offering expenses.

In addition, Cardinal Infrastructure Group has granted the underwriters a 30-day option to purchase up to an additional 1.725 million shares of its Class A Common Stock at the initial public offering price, less underwriting discounts and commissions.

Cardinal Group shares are expected to begin trading on the Nasdaq Global Select Market on December 10, 2025 under the ticker symbol "CDNL."

The offering is expected to close on December 11, 2025.