Latham & Watkins Advises Underwriters on Cardinal Infrastructure Group's US$241.5 Million IPO

"Latham & Watkins LLP represented the underwriters in Cardinal Infrastructure Group Inc.'s US$241.5 million IPO of 11,500,000 Class A shares at US$21 per share. The offering included a 30‑day option for an additional 1,725,000 shares. Cardinal's Class A shares began trading on the Nasdaq Global Select Market under the ticker CDNL; the offering is expected to close on December 11, 2025."

Latham & Watkins LLP represented the underwriters in the initial public offering of Cardinal Infrastructure Group Inc., the issuer. Cardinal Infrastructure Group Inc. (NASDAQ: CDNL), a full‑service turnkey infrastructure services company based in the Southern United States, priced an initial public offering of 11,500,000 shares of its Class A Common Stock at a public offering price of US$21 per share, producing total gross proceeds of approximately US$241.5 million before underwriting discounts, commissions and other offering expenses. Cardinal granted the underwriters a 30‑day option to purchase up to an additional 1,725,000 shares of its Class A Common Stock at the initial public offering price, less underwriting discounts and commissions. Cardinal Group's shares began trading on the Nasdaq Global Select Market on December 10, 2025, under the ticker CDNL. The offering is expected to close on December 11, 2025, subject to customary closing conditions. Latham & Watkins LLP represented the underwriters with a team composed by: partners Christopher Lueking and Jonathan Sarna, supported by associates KC Sands, Omeed Valipour, Janani Hariharan, and Austin Porter. Tax advice in the matter was provided by partner Andrea Ramezan‑Jackson, assisted by associates Shiyi Parsons and Nolon Blaylock.

Latham & Watkins Advises Underwriters on Cardinal Infrastructure Group's US$241.5 Million IPO

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