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Bending Spoons IPO Raises $1.68 B, Valued $25 B Amid DebtBending Spoons IPO Raises $1.68 B, Valued $25 B Amid Debt

7/2/2026

Summary

Bending Spoons IPO

Bending Spoons priced its IPO at $29 per share on July 1, raised $1.68 billion and closed near $40.50, valuing it at $25 billion.
The 58 million-share sale included 34.4 million new shares and the rest from existing owners.
In Q1 2026 the firm posted $601.3 million revenue, $27.5 million net income, $741 million cash and $5.9 billion liabilities (including $4.4 billion debt), a result that analysts say tests if debt-heavy roll-up can stay profitable as rates remain high.

Summary

Bending Spoons Acquires

Bending Spoons acquired more than 50 software assets, including AOL, Vimeo, Evernote and Remini, after which prices rose sharply, with Evernote’s fee jumping from $100 to $249.
After each large deal the firm cut staff from 1,830 to a few hundred by 2026, costing $78.6 million in 2025 expenses.
By March 2026 the firm served over 500 million users and 9 million paying subscribers, with 90 % of its code AI-assisted, CEO Luca Ferrari says.

History

Historical Context

In 2013 Michael Dell and private-equity firm Silver Lake completed a $24.4 billion leveraged buyout that financed 75 % of the purchase with debt, leaving Dell with a $19 billion loan portfolio. That record-size LBO set a high-leverage template later echoed by Italy’s Bending Spoons, whose $1.68 billion IPO and multi-billion-dollar debt raise raise similar cash-flow concerns as interest rates rise.

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Bending Spoons IPO

Bending Spoons priced its IPO at $29 per share on July 1, raised $1.68 billion and closed near $40.50, valuing it at $25 billion.
The 58 million-share sale included 34.4 million new shares and the rest from existing owners.
In Q1 2026 the firm posted $601.3 million revenue, $27.5 million net income, $741 million cash and $5.9 billion liabilities (including $4.4 billion debt), a result that analysts say tests if debt-heavy roll-up can stay profitable as rates remain high.

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