Three IPOs and five SPACs priced this week. Six IPOs and two SPACs submitted initial filings.
In the first sizable deal of 2026, solid tumor biotech Aktis Oncology (AKTS) priced its upsized IPO at the high end of the range to raise $318 million at a $1.0 billion market cap. The company is a Phase 1 biotech developing alpha-emitting radiopharmaceuticals against prevalent solid tumors. Preclinical studies suggest superior efficacy vs. Padcev, but Aktis faces risk given its early-stage pipeline and lack of human data until at least 1Q27. Its pipeline features Ac-AKY-1189 for Nectin-4-expressing cancers and Ac-AKY-2519 targeting B7-H3-expressing tumors. Aktis finished the week up 24%.
Texas-based juice manufacturer Buda Juice (BUDA) priced its IPO at the low end of the range to raise $20 million at a $95 million market cap. The company states that it is pioneering the "UltraFresh" juice category through its end-to-end cold chain platform. Its product portfolio consists of fresh citrus juices and wellness shots across multiple brand lines and retail customers, which it believes demonstrates both brand diversification and private label manufacturing capabilities. Buda Juice finished the week up 9%.
While not included in the table below, Brazilian mineral exploration company Atlas Critical Minerals (ATCX) priced its upsized IPO at the low end of the range to raise $10 million at a $40 million market cap. The company’s portfolio includes rare earth and titanium prospects in Goiás and Minas Gerais, graphite properties in Minas Gerais, copper and nickel rights in Goiás and Piauí, and uranium-bearing areas across six states in Brazil. Atlas finished the week up 10%.
Five SPACs also priced this week. Lafayette Digital Acquisition (ZKPU) raised $250 million to target financial services and tech. Bleichroeder Acquisition II (BBCQU) raised $250 million to target technology. Daniel Cohen’s Art Technology Acquisition (ARTCU) raised $220 million to target tech, art, and finance. Soren Acquisition (SORNU) also raised $220 million to target healthcare. Black Spade Acquisition (BIIIU) raised $150 million to target leisure, entertainment, and digital assets.
| 7 IPOs During the Week of January 5th, 2026 | |||||
|---|---|---|---|---|---|
| Issuer Business | Deal Size | Market Cap at IPO | Price vs. Midpoint | First Day Return | Return at 01/09 |
| Aktis Oncology (AKTS) | $318M | $1,016M | 6% | +24% | +24% |
| Phase 1 biotech developing targeted radiopharmaceuticals to treat solid tumors. | |||||
| Buda Juice (BUDA) | $20M | $95M | -9% | +8% | +9% |
| Makes branded and private label citrus drinks. | |||||
| Bleichroeder Acq. II (BBCQU) | $250M | $333M | 0% | +0% | +0% |
| Blank check company led by investment veterans targeting technology. | |||||
| Black Spade Acq. III (BIIIU) | $150M | $200M | 0% | n/a | +0% |
| Blank check company focusing on the leisure, entertainment, and digital asset sectors. | |||||
| Lafayette Digital Acq. I (ZKPU) | $250M | $340M | 0% | +0% | +0% |
| Blank check company targeting the financial services and technology industries. | |||||
| Art Technology Acq. (ARTCU) | $220M | $304M | 0% | +0% | +0% |
| Blank check company formed by SPAC veteran Daniel Cohen targeting tech, art, and financial services. | |||||
| Soren Acquisition (SORNU) | $220M | $303M | 0% | +0% | -1% |
| Blank check company targeting the healthcare sector. | |||||
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Six IPOs submitted initial filings. Brazilan digital bank PicS (PICS) filed to raise an estimated $500 million. Budget furniture retailer Bobs Discount Furniture (BOBS) filed to raise an estimated $400 million. Electrical distribution equipment manufacturer Forgent Power Solutions (FPS) filed to raise an estimated $200 million. Hair loss biotech Veradermics (MANE) filed to raise $100 million. Oncology biotech Eikon Therapeutics (EIKN) filed to raise $100 million. Drug-resistant infection treatment developer Lakewood-Amedex Biotherapeutics (LABT) filed for a direct listing on the Nasdaq.
| 8 Filings During the Week of January 5th, 2026 | |||
|---|---|---|---|
| Issuer Business | Deal Size | Sector | Lead Underwriter |
| Bob's Discount Furniture (BOBS) | $400M | Consumer Discretionary | JP Morgan |
| Budget retailer of furniture and bedding. | |||
| Eikon Therapeutics (EIKN) | $100M | Health Care | JP Morgan |
| Phase 2 biotech developing therapies for immuno-responsive cancers. | |||
| Forgent Power Solutions (FPS) | $200M | Industrials | Goldman |
| Manufactures electrical distribution equipment for data centers and industrial facilities. | |||
| Lakewood Amedex Bio (LABT) | $0M | Health Care | |
| Developing a topical antimicrobial treatment for drug-resistant infections. | |||
| Veradermics (MANE) | $100M | Health Care | Jefferies |
| Phase 3-ready biotech developing therapies for hair loss. | |||
| Cantor Equity Partners VI (CEPS) | $100M | SPAC | Cantor Fitz. |
| Fifteenth blank check company formed by Cantor Fitzgerald. | |||
| Willow Lane Acquisition I (WLIIU) | $125M | SPAC | BTIG |
| Second blank check company led by Luke Weil targeting consumer goods, gaming, and leisure. | |||
| PicPay (PICS) | $500M | Financials | Citi |
| Operates a digital banking platform in Brazil. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 1/8/2026, the Renaissance IPO Index was up 3.9% year-to-date, while the S&P 500 was up 1.1%. 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 7.2% year-to-date, while the ACWX was up 2.0%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kioxia and Galderma.
