Five IPOs are currently scheduled in the week ahead, and some smaller issuers may join the calendar throughout the week.
Capital markets platform Clear Street Group (CLRS) plans to raise $1.0 billion at a $13.3 billion market cap. The company offers a single, cloud-native, end-to-end capital markets platform powered by a single real-time ledger. Clear Street states that its platform offers trading, risk management, and financing services. The company connects its infrastructure to banks, clearing houses, depositories, brokers, and exchanges. Clear Street generates revenue primarily through net financing revenue generated from customer margin debit, credit, and short balances, as well as through commissions, clearing fees, service fees, investment banking income, and client pass-through fees. The company has posted strong recent revenue growth, although it faces competition from large incumbents and newer fintechs.
Brazilian consumer bank AGI (AGBK) plans to raise $720 million at a $3.0 billion market cap. AGI operates as a technology-driven provider of specialized financial services in Brazil, focusing on underserved segments such as social security beneficiaries and public and private sector workers. It serves 6.4 million active clients across 1,101 asset-light Smart Hubs, which are paperless and cashless, in 723 cities as of September 30, 2025. AGI boasts strong profitability, with a sector-leading ROAE, although it operates in a tight regulatory environment, and was handed two suspensions in 2025.
Solar project builder SOLV Energy (MWH) plans to raise $482 million at a $4.7 billion market cap. SOLV Energy is a leading provider of infrastructure services to the power industry, including engineering, procurement, construction, testing, commissioning, operations, maintenance and repowering. It has constructed more than 500 power plants, representing 20 GWdc of generating capacity, and it currently provides operations and maintenance services under long-term agreements to 146 operating power plants. SOLV Energy has a fast-growing backlog that totaled $8 billion at the end of 2025, although it relies on long lead-time projects reliant on government subsidies and credits.
Fueld distributor ARKO Petroleum (APC) plans to raise $200 million at an $865 million market cap. ARKO Petroleum, a subsidiary of ARKO (Nasdaq: ARKO) is a fuel distribution company having delivered 1.5 billion gallons in the nine months ended September 30, 2025 to gas stations, sub-wholesalers, and other purchasers. It operates three segments: Wholesale, supplying fuel to third-party dealer stations and ARKO Retail Sites under long-term cost-plus or consignment contracts; Fleet Fueling, operating proprietary and third-party cardlock locations and issuing fuel cards; and GPMP, which supplies retail sites on a cost-plus basis with a fixed adder per gallon. ARKO Petroleum distributes fuel to about 3,500 sites, generally under long-term agreements, although it is highly dependent on its parent, which accounted for about half of its 2024 revenue.
Uranium exploration company Jaguar Uranium (JAGU) is tentatively scheduled to raise $30 million at a $95 million market cap in the week ahead. Based in Canada, Jaguar Uranium is a pre-revenue junior mining company focused on three uranium exploration projects: one in Colombia and two in Argentina. Its principal exploration project is the Berlin Project in Caldas Province, Colombia, a sedimentary deposit hosting uranium together with vanadium, nickel, phosphate, rare earth elements, molybdenum and zinc.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| AGI (AGBK) Campinas, Brazil | $720M $3,029M | $15 - $18 43,636,364 | Goldman Morgan Stanley |
| Brazilian digital bank providing social security-backed loans to underserved customers. | |||
| SOLV Energy (MWH) San Diego, CA | $482M $4,686M | $22 - $25 20,500,000 | Jefferies JP Morgan |
| Provides construction services for solar power and battery storage projects. | |||
| ARKO Petroleum (APC) Richmond, VA | $200M $865M | $18 - $20 10,500,000 | UBS Raymond James |
| Distributes fuel to gas stations, sub-wholesalers and other purchasers. | |||
| Clear Street (CLRS) New York, NY | $1,000M $13,288M | $40 - $44 23,809,524 | Goldman BofA |
| Cloud-native provider of brokerage, clearing, and other capital markets services. | |||
| Jaguar Uranium (JAGU) Thornhill, Canada | $30M $95M | $4 - $6 6,000,000 | Titan Partners |
| Developer of nuclear fuel uranium exploration projects in Colombia and Argentina. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 2/5/2026, the Renaissance IPO Index was down 8.7% year-to-date, while the S&P 500 was down 0.6%. Renaissance Capital’s IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Kenvue (KVUE) and CoreWeave (CRWV). The Renaissance International IPO Index was up 10.7% year-to-date, while the ACWX was up 5.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kioxia and Galderma.
