Updated Monday, 2/3.
Three IPOs are currently scheduled for the week ahead, and a few more sizable names are eligible to launch.
Titan America (TTAM), the US business unit of Titan Cement, plans to raise $396 million at a $3.0 billion market cap. Operating primarily on the Eastern Seaboard, the company operates through a network of 100+ facilities that includes some of the largest cement plants, import terminals, and other facilities in its core markets. While its business is capital-intensive, Titan America is profitable and should benefit from favorable industry tailwinds going forward.
Cystic fibrosis biotech Sionna Therapeutics (SION) plans to raise $150 million at a $734 million market cap. Sionna is developing therapies that normalize the function of the cystic fibrosis transmembrane conductance regulator (CFTR) protein as a treatment for CF patients. The company is currently conducting Phase 1 trials for two lead candidates, and expects to begin Phase 2a trials in the 2H25.
OTC-listed Odysight.ai (ODYS) plans to raise $21 million at a $149 million market cap. The company’s Odysight TruVision solution streams visual information from small cameras to an in-platform, high-performance AI/ML computer, allowing for visibility into hard-to-access areas. Odysight solutions are already deployed in the aviation and medical sectors, and the company believes they are also relevant for verticals like aerospace, transportation, and energy.
Beyond that, a few large issuers could kick off roadshows in the coming week, including enterprise security play SailPoint (SAIL) and biotech Odyssey Therapeutics (ODTX).
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Sionna Therapeutics (SION) Waltham, MA | $150M $734M | $16 - $18 8,823,529 | Goldman TD Cowen |
| Phase 2 biotech developing novel therapies for cystic fibrosis. | |||
| Titan America (TTAM) Brussels, Belgium | $396M $3,042M | $15 - $18 24,000,000 | Citi Goldman |
| US business of global cement producer Titan Cement. | |||
| Odysight.ai (ODYS) Omer, Israel | $21M $149M | $8.50 2,529,411 | Benchmark |
| Makes vision-based sensor systems for machine and infrastructure monitoring. | |||
Street research is expected for two companies in the week ahead, and one lock-up period 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 1/30/2025, the Renaissance IPO Index was up 7.7% year-to-date, while the S&P 500 was up 3.3%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Arm Holdings (ARM) and Kenvue (KVUE). The Renaissance International IPO Index was up 5.8% year-to-date, while the ACWX was up 4.3%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Galderma and Porsche.
