1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
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1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Capital Structure
3. Valuation
Discussion
Symbol
ARX
Event Date
2025-07-24
Sector
Financials
Subsector
Insurance
Offer Range
—
Shares Offered
29.09M
205.27M
—
Implied Upside vs Midpoint
$00.00Description
—
Post-IPO economic shares by class.
| Class | Shares | % Economic |
|---|---|---|
Class A Common Shares one vote per share; primary economic class | 74.76M | 36.4% |
Class B Common Shares one vote per share | 91.42M | 44.5% |
Class A Convertible Preference Shares converts to Class A or Class B common shares at IPO | 20.96M | 10.2% |
Class B Convertible Preference Shares converts to Class A or Class B common shares at IPO | 12.57M | 6.1% |
Class C Convertible Preference Shares (Redeemable) converts to common or redeemed ($175.3M) at IPO | 5.56M | 2.7% |
| Total economic shares | 205.27M | 100% |