Two sizable IPOs are scheduled to price in the short holiday week ahead.
Precision medicine platform Caris Life Sciences (CAI) plans to raise $400 million at a $5.2 billion market cap. The company is developing and commercializing a platform combining next-gen sequencing and AI/ML technologies for cancer diagnostics. Growing but highly unprofitable, Caris is targeting a large opportunity in the dynamic but increasingly crowded oncology market.
Florida-based insurer Slide (SLDE) plans to raise $320 million at a $2.2 billion market cap. Led by the founder and former CEO of Heritage Insurance, Slide operates in the residential property insurance market. It focuses on single-family homeowners, condominium owners, and other commercial residential properties, primarily on the coasts of Florida and South Carolina, which are exposed to significant hurricane risk.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Caris Life Sciences (CAI) Irving, TX | $400M $5,219M | $16 - $18 23,529,412 | BofA JP Morgan |
| Offers an AI-powered molecular diagnostics platform focused on oncology. | |||
| Slide (SLDE) Tampa, FL | $320M $2,247M | $15 - $17 20,000,000 | Barclays Morgan Stanley |
| Home insurance provider focused on the coastal southern US. | |||
Street research is expected for four companies 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 6/12/2025, the Renaissance IPO Index was up 1.3% year-to-date, while the S&P 500 was up 3.4%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Arm Holdings (ARM) and Astera Labs (ALAB). The Renaissance International IPO Index was up 19.8% year-to-date, while the ACWX was up 17.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Galderma and Amman Mineral.
