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
XE
Event Date
2026-04-24
Sector
Industrials
Subsector
Industrials — Other
Offer Range
—
Shares Offered
42.86M
Shares Outstanding Pre-IPO
327.07M
327.07M
—
Implied Upside vs Midpoint
$00.00Description
—
Post-IPO economic shares by class.
| Class | Shares | % Economic |
|---|---|---|
Class A Common Units / Class A common stock (public offering class) (listed) | 3.13M | 1.0% |
Class B Common Units | 16.84M | 5.1% |
Series A Redeemable Convertible Preferred Units | 90.63M | 27.7% |
Series A-1 Redeemable Convertible Preferred Units | 8.81M | 2.7% |
Series B Redeemable Convertible Preferred Units | 11.64M | 3.6% |
Series C Redeemable Convertible Preferred Units | 39.96M | 12.2% |
Series C-1 Redeemable Convertible Preferred Units | 107.91M | 33.0% |
Series D Redeemable Convertible Preferred Units | 48.15M | 14.7% |
| Total economic shares | 327.07M | 100% |