Andersen Group Inc. (ANDG) Form S-1 — Aug 17, 2026
Andersen Group Inc. filed an S-1 registering 4,284,457 shares of Class A common stock for sale by selling stockholders, with an underwriter option for 642,668 additional shares. The company will receive no proceeds from the sale; shares are being delivered through redemption of Aggregator units under Andersen's Up-C structure, and the stock last closed at $48.89 on the NYSE under the symbol ANDG. Underlying financials show continued growth: revenue rose from $731.6 million in 2024 to $838.7 million in 2025, and to $458.4 million in the first half of 2026 from $384.1 million a year earlier.
Key figures
- Revenue
- $838.7 million (FY2025) vs $731.6 million (FY2024); $458.4 million (H1 2026) vs $384.1 million (H1 2025)
- Net Income
- Net loss of $130.2 million (FY2025); net income of $7.6 million (H1 2026)
- Total Assets
- $571.5 million as of June 30, 2026
- Cash Position
- $175.6 million as of June 30, 2026
- Shares Offered
- 4284457
- Shares Outstanding
- 112,887,382 total post-offering (18,399,339 Class A; 94,488,043 Class B)
- Lockup period
- 90 days; CEO Vorsatz subject to additional 18-month lock-up from IPO date
- Ipo close date
- December 18, 2025
- Greenshoe shares
- 642668
- Ho note principal
- $162.3 million (7.63% interest)
- Ca notes principal
- $187.8 million (6.31%-7.50% interest)
- Adjusted ebitda fy2025
- $227.0 million (27.1% margin)
- Tra estimated payments
- $1,037.4 million over ~15 years ($56.7M-$100.5M per year)
- Adjusted ebitda h1 2026
- $122.8 million (26.8% margin)
- Reference closing price
- $48.89 (NYSE close, August 14, 2026)
- Material weakness disclosed
- Yes
- Total shares with greenshoe
- 4927125
- Shares eligible after lockup
- up to 94,488,043
- Equity restructuring costs fy2025
- $193.2 million
- Class a voting power post offering
- 1.9%
- Class b voting power post offering
- 98.1%
Price after filing
Close on the filing date to close N calendar days later (from $49.00). Historical, not a forecast.
AI analysis
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