Accelevation raises $540 million in IPO priced below marketed range

Accelevation Holdings and its private equity backer raised $540 million in an initial public offering priced below its marketed range, Bloomberg reported. Shares of the data center infrastructure company fell 2.5% after the offering. The transaction brought public-market capital to an AI infrastructure supplier, while the below-range price and subsequent share decline showed weaker demand than its marketed terms had sought.