Orion180 Closes $240M IPO and Adopts Dual-Class Voting with 10:1 Founder Control
OIG is trading near its 52-week low of $10.81 (6.9% above the low) on light trading volume (0.3× avg).
Summary
Orion180 completed its $240M IPO at $12/share and implemented a dual-class structure giving founder Kenneth Gregg 10:1 voting power via 59.9M Class B shares.
Key Events · Financing and Capital Events · OIG
-
IPO Completed at $12/Share
On September 21, 2026, Orion180 closed its IPO of 20,000,000 shares at $12.00 per share, generating $240.0 million in gross proceeds before underwriting discounts and commissions.
-
Dual-Class Structure Implemented
Founder Kenneth Gregg exchanged 59,935,260 Class A shares for an equal number of Class B shares carrying 10 votes per share, concentrating voting control.
-
Five New Directors Elected
Kevin Bollinger, Samir Deshpande, Robert V. Deutsch, Lawrence E. McAlee, and Kernan 'Kip' Oberting joined the board effective September 17, 2026, with committee assignments disclosed.
-
Authorized Capital Structure Set
The Amended and Restated Certificate of Formation authorizes 400M Class A shares, 100M Class B shares, and 50M undesignated preferred shares, all with $0.001 par value.
Analysis · OIG · Finance
The IPO closed on September 21, raising $240 million in gross proceeds at $12 per share—the same price disclosed in the 424B4 filed two days earlier, but now confirmed as completed. A dual-class structure is also revealed: founder Kenneth Gregg exchanged 59.9 million Class A shares for Class B shares carrying 10 votes each, giving him outsized voting control. Five new independent directors joined the board. The IPO priced well below the original $15-$17 range, which already signaled weak demand; the dual-class structure adds a governance consideration for public shareholders.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 29.9% of the 1661 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, OIG was trading at $11.56 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $10.81 to $12.06. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.