One small IPO and three SPACs priced this week. Eight IPOs, including five sizable ones, and one SPAC submitted filings.
China-based thermal energy storage material producer Green Circle Decarbonize Technology (GDCT) priced its US IPO to raise $10 million at a $50 million market cap. The company provides proprietary phase change material (“PCM”) thermal energy storage (“TES”) technology. Green Circle Decarbonize Technology states that it has developed more than 20 types of PCM, each of which has a unique phase change temperature and TES capacity to accommodate different temperature requirements in various PCM-TES applications. It finished up +14%.
Three SPACs also priced. Infinite Eagle Acquisition (IEAGU), led by SPAC veteran Jeff Sagansky and former MGM CEO Harry Sloan, raised $300 million. OneIM Acquisition (OIMAU), formed by executives of alternative asset manager OneIM, raised $250 million. FG Imperii Acquisition (FGIIU) raised $200 million to target financial services.
| 4 IPOs During the Week of January 12th, 2026 | |||||
|---|---|---|---|---|---|
| Issuer Business | Deal Size | Market Cap at IPO | Price vs. Midpoint | First Day Return | Return at 01/16 |
| Green Circle Decarb Tech (GCDT) | $10M | $50M | 0% | +5% | +14% |
| Chinese producer of thermal energy storage materials. | |||||
| Infinite Eagle Acq. (IEAGU) | $300M | $379M | 0% | +3% | +3% |
| Tenth blank check company led by SPAC veteran Jeff Sagansky and former MGM CEO Harry Sloan. | |||||
| OneIM Acquisition (OIMAU) | $250M | $315M | 0% | +1% | +1% |
| Blank check company formed by executives of alternative asset manager OneIM. | |||||
| FG Imperii Acquisition (FGIIU) | $200M | $255M | 0% | +0% | +0% |
| Blank check company targeting the financial services sector. | |||||
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Eight IPOs submitted initial filings this week, including five that filed to raise $100 million or more. Leading the pack was Brazilian digital bank AGI (AGBK), which filed to raise an estimated $1 billion. Mobile app advertisting software provider Liftofff Mobile (LFTO) filed to raise an estimated $800 million. Solar power-focused construction firm SOLV Energy (MWH) filed to raise an estimated $750 million.
The sole SPAC to submit initial filings this week was KRAKacquisition (KRAQU), backed by Kraken, Tribe Capital, and Natural Capital, which filed to raise $250 million.
| 8 Filings During the Week of January 12th, 2026 | |||
|---|---|---|---|
| Issuer Business | Deal Size | Sector | Lead Underwriter |
| AgomAb Therapeutics (AGMB) | $100M | Health Care | JP Morgan |
| Belgium-based Phase 2 biotech focused on immunology and inflammatory diseases. | |||
| SOLV Energy (MWH) | $750M | Industrials | Jefferies |
| Provides construction services for solar power and battery storage projects. | |||
| SpyGlass Pharma (SGP) | $100M | Health Care | Jefferies |
| Phase 3 biotech developing implants to treat chronic eye conditions. | |||
| Yi Feng Holdings (YIFE) | $19M | Industrials | Cathay Securities |
| Hong Kong-based construction subcontractor. | |||
| AGI (AGBK) | $1,000M | Financials | Goldman |
| Brazilian digital bank providing social security-backed loans to underserved customers. | |||
| Birchtech (BCHT) | $20M | Industrials | Lake Street Cap. |
| Provides mercury capture technology and water purification systems. | |||
| Liftoff Mobile (LFTO) | $800M | Technology | Goldman |
| Provides AI-powered advertising and monetization software for mobile apps. | |||
| KRAKacquisition (KRAQU) | $250M | SPAC | Santander |
| Blank check company backed by Kraken, Tribe Capital, and Natural Capital. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 1/15/2026, the Renaissance IPO Index was up 4.5% year-to-date, while the S&P 500 was up 1.5%. Renaissance Capital’s IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include CoreWeave (CRWV) and Reddit (RDDT). The Renaissance International IPO Index was up 8.6% year-to-date, while the ACWX was up 4.0%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kioxia and Galderma.
