Three IPOs and seven SPACs priced this week. Eight IPOs, including SpaceX (SPCX), and five SPACs submitted filings.
Advisory firm Lincoln Financial (LCLN) priced at the top of the range to raise $421 million at a $2.2 billion market cap. Lincoln International is a global independent investment banking advisory firm focused on the private capital markets, focused on advising private equity and private credit investors, private company business owners, and other senior executives. The company provides private capital markets expertise across two segments: Investment Banking Advisory, and Valuations and Opinions. Lincoln International boasts a 16% CAGR for client revenues from 2015 to pro forma 2025, but its peers have posted weak trading among geopolitical and private credit concerns. It finished the week up 20%.
Beverage company AMASS Brands (AMSS) completed its direct listing on the Nasdaq this week. AMASS states that it is a US-focused premium beverage platform that develops and markets products across spirits, wine, and non-alcoholic alternatives. The company distributes through wholesale, on-premise, and direct-to-consumer channels, with a portfolio positioned around consumer trends toward premiumization, moderation, and wellness-oriented drinking occasions. AMASS Brands finished down 52% from the $8.98 price from its last funding round.
Micro-cap medical device developer Conexeu Sciences (CNXU) also completed a direct listing on the Nasdaq this week. Conexeu states that it has developed a proprietary platform built around a patented device candidate; CXU Scaffold, an extra cellular matrix (ECM) scaffold designed to support the body's natural regenerative processes. This platform leverages a temperature-sensitive collagen-based solution that becomes a gel-like scaffold upon injection or application in the body, typically within about ten minutes. Conexeu Sciences finished up 260% from the $4.00 price from its most recent private placement.
While not included in the table below, Canadian psychedelics nano-cap Optimi Health (OPTH) priced near the bottom of the range to raise $15 million at a $38 million market cap. The company is a licensed Canadian drug manufacturer that produces controlled substances like MDMA and psilocybin. Optimi Health finished the week down 6%.
Seven SPACs also priced this week. Oceanhawk Acquisition (OHACU), backed by investment firm OceanHawk, raised $160 million. Aperture AC (APURU) raised $90 million to target digital assets. Burtech Acquisition II (BRKHU) raised $80 million to target retail, lifestyle, and other areas. Amanat Acquisition (AMAN) raised $75 million to target life sciences. RA Capital-backed Research Alliance III (RACC) raised $75 million to target drug development and healthtech. FortuneX Acquisition (FXACU) raised $75 million to target companies with long term growth. Peace Acquisition (PECEU) raised $60 million to target businesses in Asia.
| 10 IPOs During the Week of May 18th, 2026 | |||||
|---|---|---|---|---|---|
| Issuer Business | Deal Size | Market Cap at IPO | Price vs. Midpoint | First Day Return | Return at 05/22 |
| Conexeu Sciences (CNXU) | $0M | $120M | 0% | n/a | +260% |
| Preclinical developer of a regenerative tissue device for wound care and aesthetics. | |||||
| Lincoln International (LCLN) | $421M | $2,154M | 5% | +13% | +20% |
| Investment banking advisory firm focused on private capital markets. | |||||
| Research Alliance III (RACC) | $75M | $91M | 0% | +3% | +4% |
| Blank check company formed by RA Capital targeting drug development and healthtech. | |||||
| Amanat Acquisition (AMAN) | $75M | $97M | 0% | +0% | +1% |
| Blank check company targeting the life sciences industry led by biotech executive Sandeep Kulkarni. | |||||
| Peace Acquisition (PECEU) | $60M | $84M | 0% | +0% | +0% |
| Blank check company targeting businesses in Asia. | |||||
| Aperture AC (APURU) | $90M | $131M | 0% | +0% | +0% |
| Blank check company targeting the digital asset industry. | |||||
| Oceanhawk Acquisition (OHACU) | $160M | $219M | 0% | +0% | +0% |
| Blank check company backed by investment firm OceanHawk. | |||||
| FortuneX Acquisition (FXACU) | $75M | $110M | 0% | +0% | +0% |
| Blank check company targeting long term growth and defensible market positions. | |||||
| Burtech Acquisition II (BRKHU) | $80M | $117M | 0% | +0% | +0% |
| Blank check company targeting retail, lifestyle, hospitality, tech, and real estate. | |||||
| AMASS Brands (AMSS) | $0M | $134M | 0% | +26% | -52% |
| Manages a portfolio of alcoholic and zero-proof beverage brands. | |||||
Sign up for a free trial of our premium platform, IPO Pro. To get our IPO calendar in your inbox, register here.
Eight IPOs submitted initial filings, including four that filed to raise $100 million or more. SpaceX (SPCX) filed for a blockbuster IPO that could raise $75 billion. At this deal size, SpaceX’s IPO would be the largest of all time, by a sizable margin. Small modular reactor developer Deep Fission (FISN) filed for a $150 million IPO. Phase 3-ready oncology biotech Parabilis Medicines (PBLS) filed for a $100 million IPO. Regional bank First Carolina Financial Services (FCBM) also filed to raise $100 million.
Five SPACs also submitted initial filings. Cantor Equity VII (CAES), the sixteenth blank check company formed by Cantor Fitzgerald, filed to raise $250 million. BTECH (BTECHU) filed to raise $200 million to target oil and gas. FutureCorp Space Acquisition 1 (FTRAU) filed to raise $200 million to target space and defense. Snow Rothschild Acquisition (ISNRU) filed to raise $200 million to target industrials and chemicals. JAB Acquisition I (JABU) filed to raise $150 million to target marketing tech.
| 13 Filings During the Week of May 18th, 2026 | |||
|---|---|---|---|
| Issuer Business | Deal Size | Sector | Lead Underwriter |
| Cantor Equity VII (CAES) | $250M | SPAC | Cantor Fitz. |
| Sixteenth blank check company formed by Cantor Fitzgerald. | |||
| Coolbit Technologies (CBAI) | $23M | Technology | Eddid Securities |
| Bitcoin miner with two facilities in the US and Canada. | |||
| First Carolina Financial (FCBM) | $100M | Financials | KBW |
| Community bank with branches in North and South Carolina, Georgia, and Virginia. | |||
| Neucleus Group (NEUC) | $20M | Consumer Discretionary | Network 1 |
| Malaysia-based provider of DNA-based child developmental assessments and parental coaching. | |||
| RUI Holdings (RUIH) | $18M | Industrials | Cathay Securities |
| Provides facility management and integrated logistics services. | |||
| Snow Rothschild Acq. (ISNRU) | $200M | SPAC | Santander |
| Blank check company targeting industrial, manufacturing, and chemicals sectors. | |||
| BTECH (BTECHU) | $200M | SPAC | D. Boral Capital |
| Blank check company targeting oil, gas, and energy. | |||
| Deep Fission (FISN) | $150M | Industrials | William Blair |
| Develops small modular nuclear reactors deployed in deep underground shafts. | |||
| FutureCorp Space Acq. 1 (FTRAU) | $200M | SPAC | Cantor Fitz. |
| Blank check company targeting space and defense. | |||
| SpaceX (SPCX) | $75,000M | Industrials | Goldman |
| Provides reusable rockets for space travel, global satellite internet, and AI models. | |||
| 3Knights Dynamics (TKDG) | $23M | Technology | Network 1 |
| Malaysia-based AI technology consultant delivering system integration solutions. | |||
| JAB Acquisition I (JABU) | $150M | SPAC | D. Boral Capital |
| Black check company targeting marketing tech and customer acquisition platforms. | |||
| Parabilis Medicines (PBLS) | $100M | Health Care | Leerink Partners |
| Phase 3-ready biotech developing engineered peptide therapies for cancer. | |||
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 5/21/2026, the Renaissance IPO Index was up 16.0% year-to-date, while the S&P 500 was up 9.3%. 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 26.6% year-to-date, while the ACWX was up 11.6%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kioxia and Galderma.
