There’s not much on the IPO calendar in the week ahead, though a closed-end fund is slated to complete a billion-dollar offering.
While not included in our stats, Bill Ackman’s Pershing Square USA (PSUS) is expected to raise up to $4 billion and list on the NYSE in the coming week. The company plans to invest in 12 to 15 large-cap, investment grade, free-cash-flow-generative, North American, durable growth companies.
Holdover Actuate Therapeutics (ACTU) is tentatively scheduled to raise $27 million at a $182 million market cap. Actuate has exclusively licensed a portfolio of glycogen synthase kinase-3 (GSK-3) inhibitors, with the goal of targeting difficult to treat cancers. Its lead candidate is being evaluated in a Phase 2 trial in metastatic pancreatic cancer, with top line results expected in the 1Q25.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Actuate Therapeutics (ACTU) Fort Worth, TX | $27M $182M | $8 - $10 2,950,000 | Titan Partners |
| Phase 2 biotech developing an inhibitor therapy for difficult to treat cancers. | |||
Sign up for a free trial of our premium platform, IPO Pro. To get our IPO calendar in your inbox, register here.
Street research is expected for one company in the week ahead, and four lock-up periods will be expiring. For access to Street research and lock-up expiration dates, sign up for a free trial of IPO Pro.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 7/25/2024, the Renaissance IPO Index was up 6.1% year-to-date, while the S&P 500 was up 14.1%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Nu Holdings (NU) and Kenvue (KVUE). The Renaissance International IPO Index was down 8.5% year-to-date, while the ACWX was up 6.4%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Amman Mineral Internasional and Barito Renewables Energy.
