Ives Ultra AI Opportunities Inc. priced its initial public offering at $10 per share for 20 million shares, raising $200 million for investments in private AI companies. The New York Stock Exchange-listed closed-end fund, trading as IVAI, must invest at least 80% of net assets in AI-focused businesses and will prioritize late-stage U.S. companies; it can allocate up to 15% to private funds. Shareholders will receive a tender offer within 12 months of the IPO before the fund deploys capital, while proceeds are held in a money market fund trust account. Dan Ives chairs the board of the investment adviser but is neither portfolio manager nor an investment-committee member. Regulatory filings identify Edward Leathers as the adviser's president and chief executive and the sole investment-committee member responsible for portfolio management. The offering is expected to close October 1, and an overallotment option could lift gross proceeds to $230 million.