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Cardinal Infrastructure Group Inc.

corporate_fare Company Profile

Cardinal Infrastructure Group Inc.

CDNL·NASDAQ·Real Estate & Construction·CIK 0002079999

Cardinal Infrastructure Group Inc. was formed on June 12, 2025, and completed its initial public offering (IPO) on December 11, 2025. In the IPO, the company sold 11,500,000 shares of Class A Common Stock at $21.00 per share. On December 12, 2025, an additional 1,725,000 shares of Class A Common Stock were sold at $21.00 per share due to the underwriters' option being fully exercised. The total gross proceeds from the IPO, including the additional shares, were approximately $277.7 million before deducting underwriting discounts and offering expenses. The net proceeds from the IPO, approximately $258.3 million, were used to purchase 14,943,750 newly issued limited liability company units (LLC Units) from Cardinal, making Cardinal Infrastructure Group Inc. the sole managing member of Cardinal. In connection with the IPO, 23,387,813 shares of Class B Common Stock were issued to the equity holders of Cardinal (Continuing Equity Holders) for nominal consideration, matching the number of LLC Units they held. Before the IPO, all business operations were conducted through Cardinal Civil Contracting, LLC (Cardinal NC). As part of the IPO, the company underwent a Reorganization to restructure its organization. This involved recapitalizing and reorganizing Cardinal and Cardinal NC, resulting in minority equity holders of Cardinal NC's non-wholly owned subsidiaries becoming equity holders of Cardinal NC, and those subsidiaries becoming wholly owned by Cardinal NC. Additionally, members of Cardinal NC became members of Cardinal, and Cardinal NC became a wholly owned subsidiary of Cardinal. The Cardinal operating agreement was also amended and restated to recapitalize all existing ownership interests in Cardinal NC.

Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) is a publicly traded company in the Real Estate & Construction sector. Wiseek has independently scored 27 items for CDNL at importance 7 or higher on its 1–10 market-impact scale. Its most recent item scored 7 or higher is dated 2026-10-19, rated 8/10. Across its 20 most recent items scored 7 or higher, the top rating is 9/10, with 14 rated 8 or above. Recent SEC coverage for CDNL spans 8-K, 4, 10-Q, 424B4.

Recent high-impact activity:

  • Cardinal Restructures $357.5M Hughes Brothers Deal: 60% Cash, Earnout Raised to $162.5M
  • Cardinal Amends Hughes Brothers Buyout Terms Days After Deal Announcement
  • Cardinal Infrastructure to Acquire Hughes Brothers Construction
  • Cardinal Infrastructure Plunges 36% as Acquisition Issues Trigger Fraud Probe
  • Cardinal Closes $115M Allied Paving Acquisition with Cash and Stock

Financial Snapshot

Fiscal year ended December 31, 2025
Revenue
$456.05M
Net Income
$22.69M
Op. Cash Flow
$37.9M
Free Cash Flow
-$5.91M
Operating Income
$40.4M
Cash & Equivalents
$97.15M
Debt / Equity
0.00×
Net Margin
5.0%
Source: 10-K · filed 2026-03-23 · accession 0001193125-26-120014

Short Interest & Short Volume

2.22 days to cover

FINRA reported short interest of 2,707,616 shares in CDNL as of the October 15, 2026 settlement, a 5.2% increase from the prior period — about 2.2 days to cover at its recent average daily volume. On October 30, 2026, 60.5% of CDNL volume reported to FINRA trade-reporting facilities was marked short.

Short interest (bi-monthly positions)2,707,616 shares as of October 15, 2026
Change vs prior period▲ 5.2%
Days to cover2.22 at avg daily volume of 1,220,407
Daily short volume (FINRA facilities)60.5% of 305,773 shares on October 30, 2026
5-day average short volume54.4%

Daily short sale volume covers trades reported to FINRA trade-reporting facilities and is not the same as short interest (bi-monthly reported positions). Source: FINRA — FINRA is the owner and source of this short interest and short sale volume data; it may not be redistributed.

Dilution Risk

Low risk

Filing-implied dilution signals for CDNL, detected from its recent SEC filings · based on capital-structure filings through 2026-06-25.

1 recent capital raise2 shelf registrations

Public Offering Finalized · Significant Discount Pricing

A filing-implied signal, not a realized share count. How Wiseek tracks dilution →

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$15.25
52-week range · as of 2026-10-19 $14.09 – $96.4
Market cap
$723.96M
Volume
747.9K (0.7× avg)
3-mo avg 1.1M
Live data · 2026-11-02 03:54 UTC · Market closed

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feed CDNL - Latest Insights

CDNL
Oct 19, 2026, 8:59 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $15.02
Real-time Price: $15.25 info
Change: +$0.230 (+2%) info
Market Cap: $723.964M info
CDNL
Oct 19, 2026, 7:30 AM EDT
Source: Dow Jones Newswires
Importance Score:
7
Price at Filing: $15.16
Real-time Price: $15.25 info
Change: +$0.090 (+0.59%) info
Market Cap: $723.964M info
CDNL
Oct 13, 2026, 6:30 AM EDT
Source: Dow Jones Newswires
Importance Score:
8
Price at Filing: $21.33
Real-time Price: $15.25 info
Change: -$6.08 (-29%) info
Market Cap: $723.964M info
CDNL
Oct 06, 2026, 5:36 AM EDT
Source: PR Newswire
Importance Score:
9
Price at Filing: $29.00
Real-time Price: $15.25 info
Change: -$13.75 (-47%) info
Market Cap: $723.964M info
CDNL
Oct 01, 2026, 4:30 PM EDT
Filing Type: 8-K
Importance Score:
7
Price at Filing: $29.74
Real-time Price: $15.25 info
Change: -$14.49 (-49%) info
Market Cap: $723.964M info
CDNL
Oct 01, 2026, 4:30 PM EDT
Source: PR Newswire
Importance Score:
7
Price at Filing: $29.74
Real-time Price: $15.25 info
Change: -$14.49 (-49%) info
Market Cap: $723.964M info
CDNL
Sep 11, 2026, 4:45 PM EDT
Filing Type: 8-K
Importance Score:
7
Price at Filing: $35.65
Real-time Price: $15.25 info
Change: -$20.40 (-57%) info
Market Cap: $723.964M info
CDNL
Aug 17, 2026, 5:38 PM EDT
Filing Type: 4
Importance Score:
7
Price at Filing: $39.23
Real-time Price: $15.25 info
Change: -$23.98 (-61%) info
Market Cap: $723.964M info
CDNL
Aug 14, 2026, 3:42 PM EDT
Source: PR Newswire
Importance Score:
7
Price at Filing: $39.33
Real-time Price: $15.25 info
Change: -$24.08 (-61%) info
Market Cap: $723.964M info
CDNL
Aug 11, 2026, 5:35 PM EDT
Filing Type: 10-Q
Importance Score:
8
Price at Filing: $38.80
Real-time Price: $15.25 info
Change: -$23.55 (-61%) info
Market Cap: $723.964M info
CDNL
Aug 11, 2026, 7:00 AM EDT
Filing Type: 8-K
Importance Score:
8
Price at Filing: $61.11
Real-time Price: $15.25 info
Change: -$45.86 (-75%) info
Market Cap: $723.964M info
CDNL
Aug 11, 2026, 6:50 AM EDT
Source: Dow Jones Newswires
Importance Score:
8
Price at Filing: $59.50
Real-time Price: $15.25 info
Change: -$44.25 (-74%) info
Market Cap: $723.964M info
CDNL
Jun 26, 2026, 10:55 AM EDT
Source: PR Newswire
Importance Score:
8
Price at Filing: $89.45
Real-time Price: $15.25 info
Change: -$74.20 (-83%) info
Market Cap: $723.964M info
CDNL
Jun 25, 2026, 4:05 PM EDT
Filing Type: 424B4
Importance Score:
8
Price at Filing: $91.97
Real-time Price: $15.25 info
Change: -$76.72 (-83%) info
Market Cap: $723.964M info
CDNL
Jun 24, 2026, 9:38 PM EDT
Source: PR Newswire
Importance Score:
8
Price at Filing: $82.00
Real-time Price: $15.25 info
Change: -$66.75 (-81%) info
Market Cap: $723.964M info
CDNL
Jun 24, 2026, 9:06 PM EDT
Filing Type: S-1MEF
Importance Score:
8
Price at Filing: $82.00
Real-time Price: $15.25 info
Change: -$66.75 (-81%) info
Market Cap: $723.964M info
CDNL
Jun 22, 2026, 7:51 PM EDT
Filing Type: S-1
Importance Score:
8
Price at Filing: $76.99
Real-time Price: $15.25 info
Change: -$61.74 (-80%) info
Market Cap: $723.964M info
CDNL
Jun 22, 2026, 4:34 PM EDT
Source: PR Newswire
Importance Score:
8
Price at Filing: $79.10
Real-time Price: $15.25 info
Change: -$63.85 (-81%) info
Market Cap: $723.964M info
CDNL
Jun 02, 2026, 7:00 AM EDT
Source: Dow Jones Newswires
Importance Score:
8
Price at Filing: $54.24
Real-time Price: $15.25 info
Change: -$38.99 (-72%) info
Market Cap: $723.964M info
CDNL
May 13, 2026, 4:34 PM EDT
Filing Type: 10-Q
Importance Score:
8
Price at Filing: $54.90
Real-time Price: $15.25 info
Change: -$39.65 (-72%) info
Market Cap: $723.964M info
Research tools: Filing Impact Index Dilution Tracker Split Calendar Open Datasets