One direct listing is currently scheduled in the week ahead, although some smaller issuers may join the calendar throughout the week.
Several notable names on file could launch IPOs in the week ahead, including Madison Air (MAIR), which could raise an estimated $2 billion, Arxis (ARXS), X-Energy (XE), and Aevex (AVEX).
The Metals Royalty Company (TMCR) plans to complete a direct listing on the Nasdaq. Based on the price form its most recent private issuance in December, the company would command a market cap of $292 million. The Metals Royalty Co. is engaged in the acquisition and management of critical metals and mineral royalties, streams, and other similar interests. The company's only asset is the NORI Royalty, a 2.0% gross overriding royalty on the NORI Property, which is a polymetallic nodule project being developed by The Metals Company in the Clarion-Clipperton Zone of the north-east Pacific Ocean that is not currently permitted for commercial production. To date, the company has not received any royalty revenue from the NORI Royalty.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| The Metals Royalty Co. (TMCR) Calgary, Canada | $275M $292M | $5 55,061,113 | |
| Canadian critical metals and mineral royalty acquirer with one asset in the Pacific Ocean. | |||
Sign up for a free trial of our premium platform, IPO Pro. To get our IPO calendar in your inbox, register here.
Street research is expected for three 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 4/1/2026, the Renaissance IPO Index was down 7.8% year-to-date, while the S&P 500 was down 3.6%. 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 10.8% year-to-date, while the ACWX was up 3.1%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Galderma and Kioxia.
