Updated Monday, 5/4.
Five IPOs are currently scheduled for the week ahead, though some smaller names may join the calendar late.
Radio signal analyzer HawkEye 360 (HAWK) plans to raise $400 million at a $2.7 billion market cap. HawkEye designs and operates a constellation of small satellites that collect radio frequency data, then processes that data through proprietary signal processing and AI-enabled analytics software to detect, geolocate, classify, and track emitters. Its portfolio of offerings are used across defense, intelligence, maritime security, and spectrum monitoring applications. HawkEye is coming to market amid strong trading in space-based signaling peers. The company is growing but unprofitable, and it has some customer concentration.
Autoimmune disease biotech Odyssey Therapeutics (ODTX) plans to raise $225 million at an $845 million market cap. Odyssey is focused on developing targeted therapies for autoimmune and inflammatory diseases. Its lead programs include oral small-molecule candidates targeting the RIPK2 and SLC15A4 pathways, with its most advanced drug showing early clinical efficacy in ulcerative colitis and others in preclinical development.
Beverage brand Suja Life (SUJA) plans to raise $200 million at an $871 million market cap. Through its Suja Organic, Vive Organic, and Slice brands, the company sells cold-pressed juices, wellness shots, and functional sodas. Suja is a leader in the cold-press and wellness shot categories, and its vertical integration supports a strong processing cycle. That said, it carries a heavy debt load, and interest expense has weighed on its bottom line.
Nerve stimulation device maker Mobia Medical (MOBI) plans to raise $150 million at a $549 million market cap. Mobia's Vivistim Paired Vagus Nerve Stimulation System is the first and only clinically-validated, FDA-approved solution for chronic ischemic stroke survivors with moderate to severe upper extremity impairments. The system includes an implanted pulse generator and lead that deliver stimulation during functional movement in order to increase neuroplasticity and durably restore motor function.
Exploration-stage mining company Rare Earths Americas (REA) plans to raise $50 million at a $368 million market cap. Rare Earths Americas has three exploration-stage material projects focused on heavy rare earth elements including neodymium-praseodymium, dysprosium, and terbium, which are used primarily in high-performance permanent magnets. The company has yet to generate revenue.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| HawkEye 360 (HAWK) Herndon, VA | $400M $2,728M | $24 - $26 16,000,000 | Goldman Morgan Stanley |
| Provides space-based radio signals intelligence for defense applications. | |||
| Rare Earths Americas (REA) Manchester, GA | $50M $368M | $17 - $19 2,777,777 | Cantor Fitz. Stifel |
| Exploration-stage rare earths mining company with projects in Brazil and the US. | |||
| Suja Life (SUJA) Oceanside, CA | $200M $871M | $21 - $24 8,888,889 | Goldman Jefferies |
| Producer of branded cold-pressed juices and other soft drinks. | |||
| Mobia Medical (MOBI) Austin, TX | $150M $549M | $14 - $16 10,000,000 | BofA JP Morgan |
| Sells a nerve stimulation device for chronic ischemic stroke. | |||
| Odyssey Therapeutics (ODTX) Boston, MA | $225M $821M | $16 - $18 13,240,000 | JP Morgan TD Cowen |
| Phase 2 biotech developing precision therapies for autoimmune diseases. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 4/30/2026, the Renaissance IPO Index was up 6.5% year-to-date, while the S&P 500 was up 5.7%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include CoreWeave (CRWV) and Arm Holdings (ARM). The Renaissance International IPO Index was up 23.6% year-to-date, while the ACWX was up 9.1%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kioxia and Galderma.
