Tech IPOs, public-market debuts, and what each one means for the exit environment.
Space-Eyes, a counter-drone and geospatial intelligence company backed by Eric Trump, agreed to go public through a merger with McKinley Acquisition Corp valuing the combined business at $638 million, with the combined company expected to list as CUAS.
Churchill Capital Corp XIII, Michael Klein's thirteenth blank-check company, priced an upsized $360 million IPO and began trading on Nasdaq as XIIIU, continuing a prolific run of serial SPAC issuance.
Chinese humanoid maker Unitree Robotics set book-building for August 5 and public subscription for August 10 on its Shanghai STAR Market IPO, targeting roughly $618 million at a $6.2 billion base valuation.
Apnimed priced an upsized IPO at $16 per share, raising $192 million ahead of its Nasdaq debut under ticker APMD, betting on the first potential FDA-approved pill for obstructive sleep apnea.
Serial SPAC sponsor Michael Klein priced Churchill Capital Corp XIII's upsized IPO at $360 million, his latest blank-check vehicle as the SPAC market shows fresh signs of life in 2026.
This week's IPO calendar is splitting cleanly into two tiers -- AI-adjacent and clinical-stage biotech names popping double digits, while established consumer and franchise brands price cleanly but open flat or down, a divergence worth watching as the 2026 IPO window matures.
Sustainable womenswear brand Reformation priced its IPO at $15 a share, raising $210.9 million and debuting on the NYSE at a roughly $886 million market value backed by private equity firm Permira.
Permira-backed sustainable fashion retailer Reformation raised $210.9 million in its NYSE debut, pricing at the bottom of its range and opening flat at $15 for an $886 million market value, well below its initial $1 billion target.
Jersey Mike's shares opened as much as 9% below their $23 IPO price on the NYSE Thursday before partially recovering, after the Blackstone-backed sandwich chain raised roughly $1 billion valuing the company at $7.3 billion.
Reformation opened flat at its $15 IPO price in its NYSE debut Thursday, valuing the Permira-backed sustainable fashion brand at $886.1 million after it raised $210.9 million pricing at the bottom of its range.
Jersey Mike's began trading on the NYSE under ticker JMKE after pricing its IPO at $23 a share, raising roughly $1 billion and valuing the sandwich chain at $7.3 billion, though shares opened below the IPO price as Blackstone retains majority voting control.
AI neocloud Nscale is getting ready to pitch investors on a multibillion-dollar IPO, having hired Goldman Sachs and JPMorgan after raising $2 billion at a $14.6 billion valuation earlier this year.
Laser Photonics filed a new S-1 covering nearly 11.8 million warrant-linked shares for resale, the latest in a series of 2026 filings as the small-cap laser-cleaning maker manages its capital structure.
Indian quick-commerce major Zepto postponed its planned IPO and will instead raise roughly $115 million in a pre-IPO round at a $4.5 billion valuation, down from the $7 billion it commanded in October 2025.
Zhongji Innolight, the world's top optical-interconnect supplier, raised $6.8 billion in Hong Kong's biggest listing in seven years, but shares fell as much as 5% on debut as the global AI-stock selloff overshadowed the offering.
Three unrelated IPOs -- biotech, consumer apparel, and food-tech -- all moved through the pipeline in the same 48 hours, and the mix, not the size, is what shows the 2026 IPO window has genuinely reopened beyond AI mega-caps.
OpenAI's push for a $1 trillion IPO valuation faces a fresh timing test as Anthropic, still targeting an October Nasdaq listing, gains ground with a cleaner profitability story and a higher private-market valuation.
Sustainable fashion brand Reformation priced its IPO at 14.06 million shares in a $15-17 range, targeting roughly $225 million at the midpoint ahead of its Nasdaq debut this week.
AI infrastructure provider Exascale Labs cleared shareholder approval for its SPAC merger with D. Boral ARC Acquisition, paving the way to begin trading on Nasdaq under the ticker XLAB.
2026's IPO market is really two separate markets moving in opposite directions at once: trillion-dollar AI-infrastructure names commanding record multiples, and everything else -- from Jersey Mike's to micro-cap S-1 filers -- pricing on old-fashioned fundamentals.
Attovia Therapeutics set terms for a Nasdaq IPO, offering 12.5 million shares at $15-17 to raise up to $212.5 million, advancing its Phase 1 itch and eczema drug candidates toward a public listing under ticker ATTO.
IPO pops are nearing 10-year highs and tech is leading the way, with $34.2 billion raised through May -- up 163.9% year-over-year -- setting up 2026 as the strongest new-issue market in a decade even before SpaceX and CXMT's blockbuster debuts.
Blackstone-backed Jersey Mike's Subs prices its IPO Wednesday night at a targeted $21-$25 a share, valuing the 70-year-old sandwich chain at up to $7.9 billion ahead of its Thursday debut on the NYSE under ticker JMKE.
Anthropic's confidential S-1 targets an October listing off a $965 billion private valuation, but secondary-market trades already imply closer to $1.2 trillion -- a gap the roadshow will have to close one way or the other.
Attovia Therapeutics is seeking up to $212.5 million in a US IPO, offering 12.5 million shares at $15-$17 each, backed by Goldman Sachs Alternatives, Deep Track Capital, Frazier Life Sciences, and venBio.
Seven operating companies filed fresh S-1 registration statements with the SEC this week, a reminder that beneath the SpaceX- and Anthropic-scale mega-IPO headlines, a steady stream of smaller and micro-cap issuers keeps testing the public markets.
TSMC began gradually restoring operations at its Kumamoto, Japan chip plant after a 7.1-magnitude earthquake killed at least 13 people and forced a temporary employee evacuation, with the facility's core structures confirmed undamaged.
SpaceX's $1.2 trillion Tuesday swing is a live pricing lesson for Anthropic and OpenAI, both moving toward IPOs of their own at valuations near $965 billion and $852 billion, respectively.
203 companies have gone public on the NYSE or Nasdaq in 2026, but roughly half now trade below their offering price -- and Tuesday's SpaceX whipsaw shows exactly why scarcity-driven IPO pops keep failing to hold.
AI-powered food supply chain company GrubMarket confidentially filed for a US IPO, months after reaching a $4.5 billion valuation in a $50 million February Series H round.
SpaceX stock briefly fell more than 20% below its June IPO price on Tuesday, wiping out roughly $1.2 trillion in paper value before paring losses, as the thin public float that fueled its post-IPO pop now works in reverse.
Apple briefly topped a $5 trillion market capitalization for the first time Tuesday, becoming only the second company ever to hit the mark after Nvidia reached it in October 2025, less than a year after Apple itself first crossed $4 trillion.
Forge's tech IPO pipeline hit a cumulative $2.1 trillion in valuation this month, but Anthropic's confidential filing at a $965B mark and Jersey Mike's return to public markets show how differently that number will actually convert.
Catalyst Acquisition Corp priced a $200 million IPO on Nasdaq, launching a SPAC targeting traditional and digital media companies including video games, mobile gaming, publishers and studios.
Members of Congress with oversight of NASA and defense contracting have disclosed personal purchases of SpaceX stock since its IPO, raising fresh conflict-of-interest concerns just as lawmakers weigh new space and satellite legislation.
203 companies have gone public on the NYSE or Nasdaq in 2026, but roughly 49% now trade below their IPO price, exposing a widening gap between opening-day demand and durable public-market performance.
Market Technology Acquisition Corp closed its $205 million IPO, with units trading on Nasdaq under 'MTAKU' since July 24, targeting acquisitions in licensed US equities and options clearing infrastructure.
ChangXin Memory Technologies surged more than 500% on its Shanghai STAR Market debut to roughly $540 billion, sending SanDisk down 12%, Micron down 5% and SK Hynix down 6-8% in the same session.
AIxCrypto Holdings, the Nasdaq-listed company that pivoted from biopharma to AI and blockchain infrastructure, filed a new S-1 for a follow-on public offering, continuing a transformation that began with a November 2025 rebrand.
Sinda Ltd, the silver exploration company that raised $213 million in its June NYSE debut, filed an additional registration statement on July 28 to support further securities offerings.
A Value Add Pulse analysis finds a quiet pattern across 2026's consumer and infrastructure IPOs: companies borrowing tens of millions right before filing, or steering the bulk of proceeds to debt and existing holders, rather than new growth capital.
A Value Add Pulse analysis of 2026's IPO market finds proceeds already tracking well ahead of Goldman Sachs's February forecast of $160 billion for the full year, driven by a handful of enormous AI-adjacent listings.
Seven companies filed S-1 registration statements with the SEC between July 24 and July 27, spanning blank-check SPACs, real estate and an AI intelligence platform, underscoring how active the public-offering pipeline remains even outside marquee mega-deals.
Multiple blank-check companies filed amended S-1/A registration statements this week, including Dune Acquisition Corp III and BOA Acquisition Corp. II, signaling continued SPAC-market activity even as most 2026 IPO attention centers on operating-company mega-deals.
Nearly every major consumer and industrial IPO this cycle has priced well below the valuation chatter that preceded it, despite a record first half for new listings.
Ionic Digital's no-capital-raised direct listing offers a lower-friction alternative to traditional underwritten IPOs for companies that need liquidity, not new cash.
Micron, SanDisk and SK Hynix shares all fell after CXMT's explosive Shanghai IPO debut intensified fears of a looming DRAM supply glut and price war.
Karman Line Acquisition Corp filed an S-1 for a blank-check IPO targeting 20 million units, aiming to merge with a space infrastructure, aerospace or defense company -- the latest SPAC chasing the sector's post-Karman Holdings enthusiasm.
ChangXin Memory Technologies debuted on Shanghai's STAR Market Monday, raising roughly $8.6 billion in the largest mainland semiconductor offering on record, before shares surged as much as 531% to make CXMT China's most valuable listed company.
Angola raised $321 million by selling a 15% stake in state wireless carrier Unitel, the country's largest IPO ever and a flagship test of its post-dos Santos privatization program.
Apnimed launched a $150-160 million IPO for a pill that could become the first FDA-approved treatment for obstructive sleep apnea.
Shionogi-backed Apnimed launched a $150 million IPO for its once-daily obstructive sleep apnea pill AD109, targeting a Thursday pricing ahead of a Friday NASDAQ debut.
Ionic Digital, built from Celsius Mining's bankruptcy, is completing a Nasdaq direct listing as an AI and high-performance-computing infrastructure company.
Blackstone-backed sandwich chain Jersey Mike's is set to price its IPO this week at a targeted valuation near $8 billion, the largest US consumer IPO of 2026 in the sector's weakest listing year in a decade.
SpaceX shares are trading roughly 42% below their post-IPO peak heading into the company's first public earnings report and a record insider share unlock.
Chinese memory maker CXMT surged as much as 471% in its Shanghai STAR Market trading debut, instantly becoming mainland China's most valuable listed company.
Shein's Hong Kong IPO prospectus disclosed slowing revenue growth and a swing to a quarterly loss, complicating its push for a $40-50 billion valuation.
Chinese optical networking supplier Zhongji Innolight is completing an up to $8 billion Hong Kong IPO, the city's largest listing in seven years, riding surging demand for AI data center optics.
New-listing proceeds and first-day returns both hit multi-year highs in the first half of 2026, evidence the reopened IPO window is broadening rather than fading.
Two well-capitalized infrastructure unicorns are separately testing the IPO waters, suggesting the reopened window extends beyond consumer brands and SpaceX-scale mega-deals.
