BUZZ - Artificial intelligence infrastructure company Accelevation is set to debut on Nasdaq after pricing its IPO below the range.

September 30 - ** Artificial intelligence infrastructure company Accelevation Holdings (ACCV.O) is scheduled to list on Nasdaq on Wednesday, after its IPO was priced below expectations

** The stock most recently indicated an opening price of $18.05, compared to an issue price of $18

** The Miamisburg, Ohio-based company and its shareholders sold (link) 30 million shares on Tuesday evening, at a price far below the $20 to $24 range (link), raising $540 million

** ACCV issued 10 million shares; some selling shareholders affiliated with private equity firm Olympus Partners offloaded 20 million shares

** ACCV proceeded with the offering despite increasingly challenging market conditions (link), as soaring bond yields and tightening interest rate environments have dampened market risk appetite

** On Tuesday, the window for autumn IPOs continued to narrow, with smart ring maker Oura becoming the latest U.S. IPO candidate to delay its listing plans (link)

** Founded in 2017, ACCV designs, manufactures, and installs power distribution, cooling, and modular infrastructure for data center clients

** Olympus Partners will hold 85% of the voting rights after acquiring ACCV last year from private equity firm LFM Capital

** Morgan Stanley and JPMorgan are leading an 11-firm underwriting syndicate for the IPO

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