Priced in 2026
14 IPOs, newest first| Company | Status · date | Last private valuation | IPO valuation / terms | Raised | Exchange · ticker | Lead banks | Source |
|---|---|---|---|---|---|---|---|
| TRex Bio Autoimmune and inflammatory disease biotech; Eli Lilly is an investor. Priced Oct 8, 2026: 8,333,334 shares at $14, the low end of the $14–16 range. Began trading on Nasdaq on Oct 9 and closed its first day at $14.00, flat with the IPO price (IPOScoop). Lilly indicated interest in buying IPO shares, capped so its stake does not exceed 19.9% after the offering.srcsrc Our coverage → | Priced Oct 8, 2026 | — | $14/share, low end of the $14–16 rangesrc | $116.7M | TRXBNasdaq | J.P. Morgan, Evercore ISI | TRex Bio Form 424B4 prospectus (SEC EDGAR, dated Oct 8, 2026) ↗ “The initial public offering price is $14.00 per share.” |
| Retension Pharmaceuticals Upsized IPO of 3,750,000 shares for a clinical-stage developer of hypertension medicines (lead candidate RTN-001). Trading on the Nasdaq Capital Market was set to begin Oct 9.src Our coverage → | Priced Oct 8, 2026 | — | $12/share | $45.0Msrc | RTSNNasdaq | Leerink Partners, Guggenheim Securities | Retension Pharmaceuticals Form 424B4 prospectus (SEC EDGAR, dated Oct 8, 2026) ↗ “The initial public offering price for our common stock is $12.00 per share.” |
| Accelevation Holdings Maker of power distribution and infrastructure products for data centers. Began trading on Nasdaq on Sep 30 and closed its first day at $17.95, a nickel below the $18 IPO price (IPOScoop: "At the closing bell, Accelevation's stock was at $17.95 – down just a nickel from its $18.00 IPO price").src Our coverage → | Priced Sep 29, 2026 | — | $18/share, below the $20–24 rangesrc | $540Msrc | ACCVNasdaq | Morgan Stanley, J.P. Morgan, Goldman Sachs, Barclays, BofA Securities | Accelevation pricing release (GlobeNewswire, via Yahoo Finance) ↗ “today announced the pricing of its initial public offering of 30,000,000 shares of its Class A common stock at a public offering price of $18.00 per share” |
| ADARx Upsized IPO for a late-stage siRNA drug developer. AbbVie agreed to buy shares in a concurrent private placement. Our coverage → | Priced Sep 24, 2026 | — | $17/share, top of the $15–17 rangesrcsrc | $446.3Msrc | ADRXNasdaq | J.P. Morgan, Morgan Stanley, TD Cowen, UBS Investment Bank | ADARx Pharmaceuticals press release (GlobeNewswire, via Yahoo Finance) ↗ “announced today the pricing of its upsized initial public offering of 26,250,000 shares of common stock at a price to the public of $17.00 per share.” |
| Electra TherapeuticsOur coverage → | Priced Sep 17, 2026 | — | $15/share | $350M | ETRANasdaq | Jefferies, TD Securities, Evercore, Cantor Fitzgerald | SEC EDGAR (Electra Therapeutics 424B4 prospectus, Sep 17, 2026) ↗ “The initial public offering price is $15.00 per share of our common stock.” |
| Orion180 Insurance Group Priced below its marketed $15–17 range.src | Priced Sep 17, 2026 | — | $12/share, below $15–17 rangesrc | $240Msrc | OIGNasdaq | RBC Capital Markets, UBS Investment Bank, Raymond James | Orion180 pricing press release (via Nasdaq.com) ↗ “today announced the pricing of its initial public offering of 20,000,000 shares of its Class A common stock, at an initial public offering price of $12.00 per share.” |
| Latigo Biotherapeutics Upsized IPO for a developer of non-opioid pain medicines. Our coverage → | Priced Aug 6, 2026 | — | $18/share | $345.6M | LTGONasdaq | Goldman Sachs, Jefferies, Leerink Partners, Guggenheim Securities | Latigo Biotherapeutics pricing press release (via Yahoo Finance) ↗ “today announced the pricing of its upsized initial public offering of 19,200,000 shares of common stock at a price to the public of $18.00 per share.” |
| Braveheart Bio Upsized IPO for a developer of drugs for hypertrophic cardiomyopathy and other cardiovascular diseases; priced above its range.src Our coverage → | Priced Aug 5, 2026 | — | $18/share, above $15–17 rangesrc | $382.5M | BRVENasdaq | Goldman Sachs, Jefferies, TD Cowen, Stifel, Cantor | Braveheart Bio pricing press release (via Forbion) ↗ “today announced the pricing of its upsized initial public offering of 21,250,000 shares of its common stock at a public offering price of $18.00 per share.” |
| Attovia Therapeutics Upsized IPO of 17,000,000 shares. Trading on Nasdaq was set to begin Aug 5. Our coverage → | Priced Aug 4, 2026 | — | $17/share, top of the $15–17 rangesrc | $289.0M | ATTONasdaq | Morgan Stanley, Leerink Partners, Citigroup, RBC Capital Markets | Attovia Therapeutics pricing release (GlobeNewswire, via Nasdaq.com) ↗ “today announced the pricing of its upsized initial public offering of 17,000,000 shares of its common stock at an initial public offering price of $17.00 per share” |
| Scribe Therapeutics Clinical-stage in vivo CRISPR biotech. Sanofi bought 500,000 shares in a concurrent private placement at the IPO price.src Our coverage → | Priced Jul 23, 2026 | — | $15/share, high end of range | $155.51M incl. full option and Sanofi placementsrc | SCTXNasdaqsrc | Leerink Partners, Goldman Sachs, Guggenheim Securities, Wells Fargo Securitiessrc | Scribe Therapeutics pricing release (GlobeNewswire, via Nasdaq.com) ↗ “today announced the pricing of its upsized initial public offering of 8,580,000 shares of its common stock at the high end of the range at a public offering price of $15.00 per share” |
| Standard Nuclear The deal was cut from 18.25M shares at $18–21 before pricing. It debuted on the NYSE on Jul 16.src Our coverage → | Priced Jul 15, 2026 | — | $15/share; $2.4B market cap at pricingsrcsrc | $150Msrc | STDNNYSE | BofA Securities, Goldman Sachs | Standard Nuclear pricing release (Business Wire, via Yahoo Finance) ↗ “today announced the pricing of its initial public offering ("IPO") of 10,000,000 shares of its Class A common stock at a public offering price of $15.00 per share.” |
| SpaceX The largest IPO in history, ahead of Saudi Aramco's 2019 debut. The underwriters' option was later exercised in full (638.9M shares sold in total).srcsrc Our coverage → | Priced Jun 11, 2026 | — | $135/share; ~$1.77T valuationsrcsrc | $75B (before the option)src | SPCXNasdaq | Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup, J.P. Morgan, Barclays, Deutsche Bank Securities, RBC Capital Markets, UBS Investment Bank, Wells Fargo Securities | SpaceX pricing release (newswire.ca repost) ↗ “Space Exploration Technologies Corp. ("SpaceX") today confirmed the pricing of its initial public offering of 555,555,555 shares of its Class A common stock, at a public offering price of $135.00 per share.” |
| Cerebras Priced above its expected range and rose 68% in its Nasdaq debut.src Our coverage → | Priced May 13, 2026 | $23B (Feb 2026)src | $185/share | $5.55Bsrc | CBRSNasdaq | Morgan Stanley, Citigroup, Barclays, UBS Investment Bank | Cerebras pricing release (GlobeNewswire) ↗ “today announced the pricing of its initial public offering of an aggregate of 30,000,000 shares of its Class A common stock, at a public offering price of $185.00 per share.” |
| Fervo Energy Upsized geothermal IPO, up from an originally proposed 55,555,555 shares. Shares were expected to begin trading on Nasdaq on May 13, 2026. | Priced May 12, 2026 | — | $27/share, above the raised $25–26 rangesrc | $1.9Bsrc | FRVONasdaq | J.P. Morgan, BofA Securities, RBC Capital Markets, Barclays | Fervo Energy press release (GlobeNewswire, via Yahoo Finance) ↗ “70,000,000 shares of its Class A common stock, at a public offering price of $27.00 per share” |
On file: the active pipeline
Public S-1s and reported confidential filings| Company | Status · date | Last private valuation | IPO valuation / terms | Raised | Exchange · ticker | Lead banks | Source |
|---|---|---|---|---|---|---|---|
| SB Energy SoftBank-backed AI data-center power company; public S-1 filed Sep 1 and amended Sep 4 and Sep 21. Timing is disputed: the NYT and FT reported a delay (Sep 21–22) and Investing.com reported Sep 22 that it was moving ahead; Reuters reported Sep 25 that it postponed formally marketing the IPO while it answers SEC questions.srcsrcsrcsrcsrc Our coverage → | Public S-1 Sep 1, 2026 | — | $50B+ targeted (reported); no price range yetsrc | $5–7B targeted (reported)src | SBENasdaq | J.P. Morgan, Goldman Sachs, Morgan Stanley, Citigroup, Mizuho | SB Energy press release ↗ “SB Energy, Inc. (“SB Energy”) today announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”)” |
| Entrata | Public S-1 Sep 1, 2026 | $4.3B (May 2025)src | — | — | ENTNYSE | Goldman Sachs, J.P. Morgan | SEC EDGAR (S-1/A Amendment No. 2) ↗ “As filed with the Securities and Exchange Commission on September 1, 2026.” |
| Syntiant Maker of low-power AI processor, sensor and software solutions. Public S-1 filed Jul 6; price range not yet set.src Our coverage → | Public S-1 Jul 6, 2026 | — | — | — | SYTNNasdaq | Citigroup, BofA Securities, UBS | Syntiant press release (company site) ↗ “today announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”)” |
| Anthropic Anthropic confidentially submitted a draft S-1 on Jun 1, the company said. The >$2T target comes from reports on a leaked draft prospectus; no registration statement is public on EDGAR.srcsrc Our coverage → | Confidential filing Jun 1, 2026 | $965B (May 2026)src | >$2T target (reported)src | — | — | — | Anthropic ↗ “Today, Anthropic, PBC confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission” |
| Discord Bloomberg News reported the confidential filing on Jan 6; Discord has not confirmed it. | Confidential filing Jan 6, 2026 Reported | — | — | — | — | — | Reuters, citing Bloomberg News ↗ “Chat platform Discord files confidentially for US IPO, Bloomberg News reports” |
Postponed or pulled
IPOs shelved, delayed or withdrawn in 2026| Company | Status · date | Last private valuation | IPO valuation / terms | Raised | Exchange · ticker | Lead banks | Source |
|---|---|---|---|---|---|---|---|
| Oura Postponed its Nasdaq IPO despite strong demand, citing uncertainty in the IPO market. Our coverage → | Postponed Sep 29, 2026 | $11B (Oct 2025)src | $40–44/share range; up to $15B at the midpointsrcsrc | Up to $2.2B sought (before the option); not raisedsrc | OURANasdaqsrc | Goldman Sachs, Morgan Stanley, J.P. Morgan, Allen & Company, Jefferiessrc | Oura press release (Business Wire, via FinancialContent) ↗ “announced today that it is postponing its previously announced initial public offering on Nasdaq, despite strong demand, due to uncertainty in the IPO market.” |
| Bamboo Insurance Postponed its planned NYSE listing, reportedly citing market conditions. Our coverage → | Postponed Sep 22, 2026 Reported | ~$1.75B (2025, reported) | $18–20/share range; up to $3.24B valuationsrc | Up to $700M sought; not raisedsrc | BMBNYSE | JPMorgan, Morgan Stanley | Private Equity Wire (citing Bloomberg) ↗ “CVC Capital Partners-backed home insurer Bamboo Insurance has postponed its planned US initial public offering, according to a report by Bloomberg citing unnamed people familiar with the matter” |
| Holtec Nuclear Postponed citing market conditions. Holtec said it intends to keep its registration statement on file with the SEC.src Our coverage → | Postponed Sep 17, 2026 | — | $15–18/share range; up to $10.2B valuationsrc | Up to $900M sought; not raisedsrc | HNUCNasdaqsrc | J.P. Morgan, Guggenheim Securities, Goldman Sachs, Citigroup, BofA Securitiessrc | Holtec International (company release) ↗ “we have decided to postpone our initial public offering at this time. The Company intends to maintain its registration statement on file with the SEC.” |
| OpenAI OpenAI said on Jun 8 it had confidentially submitted an S-1. CEO Sam Altman told Fortune on Sep 12 that OpenAI won’t go public this year.src Our coverage → | Postponed Sep 12, 2026 | $852B (Mar 2026)src | — | — | — | — | Fortune ↗ “right now would be an ill-advised moment to go public, and we don’t feel pressure on that” |
| Kraken Parent Payward filed confidentially in Nov 2025. It reportedly now targets Q2 2027 at the earliest. Our coverage → | Postponed Sep 2, 2026 Reported | $20B (late 2025) | — | — | — | — | CoinDesk ↗ “has delayed its widely anticipated initial public offering until next year” |
| Databricks CEO Ali Ghodsi said Databricks won’t go public this year but plans to sell shares to the public at some point. Our coverage → | Postponed Jun 4, 2026 | $190B (Aug 2026)src | — | — | — | — | Bloomberg Law ↗ ““We will be a public company. I just think this is a terrible year to go public.”” |
Exploring
Reported preparation, no filing on record| Company | Status · date | Last private valuation | IPO valuation / terms | Raised | Exchange · ticker | Lead banks | Source |
|---|---|---|---|---|---|---|---|
| Plaid Bloomberg reported preliminary IPO talks with banks. The $8B valuation came from a Feb 2026 employee share sale.src Our coverage → | Exploring Jul 1, 2026 Reported | $8B (Feb 2026)src | — | — | — | — | PYMNTS (citing Bloomberg) ↗ “Plaid has held preliminary discussions with banks about a potential initial public offering, Bloomberg reported Wednesday (July 1), citing unnamed sources.” |
Latest IPO news from Value Add Pulse
All IPO stories →IPO
OpenAI's Valuation Fell As Anthropic's IPO Target Doubled
OpenAI's new funding round reset its valuation to $1.25 trillion, down from an earlier $1.4 trillion report, while Anthropic is still targeting an IPO valuation near $2 trillion -- more than double its last private mark of $965 billion.
BY THE NUMBERS
Lycia Prices IPO at $18.00, Starts Trading as LYCA
IPO$317.5M IPO
Lycia Prices IPO at $18.00, Starts Trading as LYCA
Lycia Therapeutics priced its upsized IPO above expectations and began trading on Nasdaq, raising about $317.5 million for its clinical-stage pipeline.
FOLLOW-UP
T3 Defense Registers 1.95M More Shares For Resale
IPO
T3 Defense Registers 1.95M More Shares For Resale
T3 Defense's Nasdaq registration became effective on October 22, and the company immediately filed to register nearly 2 million more shares for resale by its selling stockholders.
FOLLOW-UP
Anthropic's Prospectus: $4.6B Revenue | $42B Net Loss
IPO$42B Net Loss
Anthropic's Prospectus: $4.6B Revenue | $42B Net Loss
Anthropic's leaked prospectus reportedly shows $4.6B in 2025 revenue against a $42B net loss and $518B in decade-long infrastructure commitments, as its delayed IPO still targets a $2T valuation.
DEEP DIVE
Phoenix Energy One Files To Sell $500M In Retail Notes
IPO$500M Notes Program
Phoenix Energy One Files To Sell $500M In Retail Notes
Oil and gas royalty company Phoenix Energy One filed to offer up to $500 million in retail notes paying 7.50% to 11.00%, against a business that posted $687M in 2025 revenue.
DEEP DIVE
Ambitious Entertainment Seeks $18M In NYSE American IPO
IPO~$18M at $4.00-$5.00/Share
Ambitious Entertainment Seeks $18M In NYSE American IPO
A film and TV producer whose team worked on The Hurt Locker and Rambo amended its IPO filing, targeting about $18 million to shift from production services into owning its own content.
DEEP DIVE
IPO Tracker: common questions
Which companies have gone public in 2026?
14 IPOs on our 2026 tracker have priced so far: TRex Bio (Nasdaq: TRXB) on Oct 8, 2026; Retension Pharmaceuticals (Nasdaq: RTSN) on Oct 8, 2026; Accelevation Holdings (Nasdaq: ACCV) on Sep 29, 2026; ADARx (Nasdaq: ADRX) on Sep 24, 2026; Electra Therapeutics (Nasdaq: ETRA) on Sep 17, 2026; Orion180 Insurance Group (Nasdaq: OIG) on Sep 17, 2026; Latigo Biotherapeutics (Nasdaq: LTGO) on Aug 6, 2026; Braveheart Bio (Nasdaq: BRVE) on Aug 5, 2026; Attovia Therapeutics (Nasdaq: ATTO) on Aug 4, 2026; Scribe Therapeutics (Nasdaq: SCTX) on Jul 23, 2026; Standard Nuclear (NYSE: STDN) on Jul 15, 2026; SpaceX (Nasdaq: SPCX) on Jun 11, 2026; Cerebras (Nasdaq: CBRS) on May 13, 2026; Fervo Energy (Nasdaq: FRVO) on May 12, 2026. The biggest raise is SpaceX at $75B (before the option).
Which IPOs are coming next?
Companies on our tracker with an IPO filing on record: SB Energy (public S-1, Sep 1, 2026); Entrata (public S-1, Sep 1, 2026); Syntiant (public S-1, Jul 6, 2026); Anthropic (confidential filing, Jun 1, 2026); Discord (confidential filing, Jan 6, 2026, reported).
Which IPOs were postponed or pulled in 2026?
Oura (Sep 29, 2026); Bamboo Insurance (Sep 22, 2026, reported); Holtec Nuclear (Sep 17, 2026); OpenAI (Sep 12, 2026); Kraken (Sep 2, 2026, reported); Databricks (Jun 4, 2026). Each row on the tracker links the filing or report behind it.
Has OpenAI filed for an IPO?
OpenAI said on Jun 8 it had confidentially submitted an S-1. CEO Sam Altman told Fortune on Sep 12 that OpenAI won’t go public this year. Status on our tracker: postponed as of Sep 12, 2026, per Fortune.
Has Anthropic filed for an IPO?
Anthropic confidentially submitted a draft S-1 on Jun 1, the company said. The >$2T target comes from reports on a leaked draft prospectus; no registration statement is public on EDGAR. Status on our tracker: confidential filing as of Jun 1, 2026, per Anthropic.
How this works: the tracker follows notable US IPOs, not every listing. Each row is checked against an SEC filing, the company's own release or a major outlet, and quotes the line that sets its status; priced rows cite the company's pricing release or the SEC prospectus. A figure sourced from a different page carries its own “src” link. “Reported” means the status rests on media reports, not the company or the SEC. For the analysis behind the pipeline, read who's going public in 2026.