Cardinal Infrastructure indicated to open at $27.30, IPO priced at $21

Cardinal Infrastructure (CDNL) Group, an infrastructure services company headquartered in Raleigh, North Carolina, priced its initial public offering of 11.5M shares of its Class A Common Stock at a public offering price of $21.00 per share. The deal priced at the midpoint of the $20.00-$22.00 target range. Stifel, William Blair and DA Davidson are acting as joint book running managers for the offering.