The IPO calendar looks quiet for the week ahead, with one small issuer tentatively slated to debut.
However, some sizable names in the pipeline could launch in the week ahead. Construction equipment rental platform EquipmentShare.com (EQPT), fleet management software provider Motive Technologies (MTVE), solid tumor biotech Aktis Oncology (AKTS), fuel distributor ARKO Petroleum (APC), and Medtronic’s diabetes carve-out MiniMed (MMED) all could potentially launch after having submitted their initial filings in December. Several other notable names that filed prior to December could also launch IPOs soon, including life insurance platform Ethos Technologies (LIFE), baby food producer Once Upon a Farm (OFRM), crypto investment platform
Japanese gaming hall operator Libera Gaming Operations (LBRJ) is tentatively scheduled to raise $6 million at a $61 million market cap in the week ahead. The company operates pachinko halls in Japan, with a portfolio of 11 halls as of 3/15/24. The halls are venues for recreational arcade games "pachinko" and "pachislot," played with balls and tokens, respectively. The pachinko and pachislot industry is highly regulated and not considered gambling since customers do not directly win cash.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Libera Gaming Operations (LBRJ) Tokyo, Japan | $6M $61M | $4 - $6 1,250,000 | D. Boral Capital Sutter Securities |
| Operates pachinko gaming halls in Japan. | |||
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This week, we updated our 2025 US IPO Market Review.
Street research is expected for four companies in the week ahead, and six 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 12/31/2025, the Renaissance IPO Index was up 5.4% year-to-date, while the S&P 500 was up 17.9%. Renaissance Capital’s IPO ETF (NYSE: IPO) tracks the index, and top ETF Holdings include Reddit (RDDT) and Kenvue (KVUE). The Renaissance International IPO Index was up 39.1% year-to-date, while the ACWX was up 33.1%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Galderma and Kioxia.
