Two operating companies priced IPOs this week, along with six SPACs.
Digital asset infrastructure provider BitGo (BTGO) priced its US IPO above the range to raise $213 million at a $2.2 billion market cap. The company provides a digital asset custody, lending, and infrastructure platform serving institutional clients. Despite pricing up and initially opening with a nearly 25% gain, BitGo crumbled in the aftermarket, finishing the week 19% below offer.
Fast-growing construction equipment rental platform EquipmentShare.com (EQPT) raised $747 million at a $6.7 billion market cap, pricing at the midpoint. The company rents and sells construction equipment through its digital platform and over 300 stores. Shares surged 33% on day one.
The remaining offerings were SPACs. Cormorant’s Helix Acquisition III (HLXC) upsized an offering that did not include warrants or rights, and traded up 2.5%, while Archimedes Tech SPAC Partners III (ARCIU) also upsized its offering. The other new SPAC listings included Legato Merger IV (LEGO.U), Aldabra 4 Liquidity (ALOVU), Praetorian Acquisition (PTORU), and X3 Acquisition (XCBEU).
| 8 IPOs During the Week of January 19th, 2026 | |||||
|---|---|---|---|---|---|
| Issuer Business | Deal Size | Market Cap at IPO | Price vs. Midpoint | First Day Return | Return at 01/23 |
| EquipmentShare.com (EQPT) | $747M | $6,724M | 0% | +33% | +33% |
| Rents and sells construction equipment from its digital platform and over 300 stores. | |||||
| Helix Acquisition III (HLXC) | $150M | $193M | 0% | +3% | +3% |
| Blank check company formed by Cormorant Asset Management targeting healthcare. | |||||
| Archimedes Tech SPAC III (ARCIU) | $240M | $307M | 0% | +1% | +1% |
| Blank check company targeting AI, cloud services, and automotive tech. | |||||
| Legato Merger IV (LEGO.U) | $200M | $272M | 0% | +0% | +0% |
| Blank check company formed by execs at Crescendo Partners targeting infrastructure, industrials, and AI. | |||||
| Aldabra 4 Liquidity (ALOVU) | $261M | $326M | 0% | +0% | +0% |
| Blank check company led by executives of investment firm Terrapin Partners. | |||||
| X3 Acquisition (XCBEU) | $200M | $250M | 0% | +0% | +0% |
| Blank check company led by X Cubed Capital Management executives targeting financial services. | |||||
| Praetorian Acquisition (PTORU) | $220M | $295M | 0% | +0% | +0% |
| Blank check company targeting businesses that can be transformed by AI. | |||||
| BitGo (BTGO) | $213M | $2,249M | 13% | +3% | -19% |
| Provides a digital asset custody, lending, and infrastructure platform. | |||||
Sign up for a free trial of our premium platform, IPO Pro. To get our IPO calendar in your inbox, register here.
Ten issuers submitted initial filings this week, with five operating companies and five SPACs. Leading the pack was Clear Street (CSIG), which filed to raise an estimated $1 billion. The cloud-native financial services firm provides brokerage, clearing, and other capital markets services.
Five SPACs also filed, including Columbus Circle Capital II (CMIIU) and Spring Valley Acquisition IV (SVIVU), each seeking $200 million.
| 10 Filings During the Week of January 19th, 2026 | |||
|---|---|---|---|
| Issuer Business | Deal Size | Sector | Lead Underwriter |
| Silver Bow Mining (SBOW.RC) | $40M | Materials | Cantor Fitz. |
| Exploration-stage mining company with projects in Montana. | |||
| Starrygazey (MARH) | $17M | Financials | Pacific Century |
| Hong Kong-based provider of IPO and ESG advisory services. | |||
| Columbus Circle Cap. II (CMIIU) | $200M | SPAC | Cohen & Company |
| Blank check backed by Cohen & Company. | |||
| Spring Valley Acq. IV (SVIVU) | $200M | SPAC | Cohen & Company |
| Blank check company targeting the power infrastructure and decarbonization industries. | |||
| Starlink AI Acquisition (OTAIU) | $60M | SPAC | A.G.P. |
| Blank check company targeting businesses in the Americas, Europe, and Asia. | |||
| Cloud Data (CDN) | $16M | Technology | Cathay Securities |
| Hong Kong-based provider of data center services. | |||
| Clear Street (CSIG) | $1,000M | Financials | Goldman |
| Cloud-native provider of brokerage, clearing, and other capital markets services. | |||
| Long Table Growth (LTGRU) | $200M | SPAC | Santander |
| Blank check company formed by SPAC veteran Greg Ethridge targeting fintech and other industries. | |||
| Medikra (MDKR) | $20M | Health Care | Brookline Cap. Mkts. |
| Malaysia-based developer of plant-based bioactives focused on obesity and metabolic syndrome. | |||
| SUMA Acquisition (SUMAU) | $150M | SPAC | Seaport Global |
| Blank check company targeting technology in North America. | |||
Sign up for a free trial of our premium platform, IPO Pro. To get our IPO calendar in your inbox, register here.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 1/22/2026, the Renaissance IPO Index was up 3.8% 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 CoreWeave (CRWV) and Reddit (RDDT). The Renaissance International IPO Index was up 11.6% year-to-date, while the ACWX was up 4.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kioxia and Galderma.
