Seven sizable IPOs are currently scheduled to list in the week ahead, and some smaller issuers may also join the calendar throughout the week.
Natural gas engines producer INNIO Holding (INIO) is set to raise $1.9 billion at a $19.1 billion market cap. Innio Group is a manufacturer of reciprocating gas engines for power generation and gas compression applications. The company operates two segments: Equipment and Services, selling engines under its Jenbacher and Waukesha brands, which range from 200 kW to 10 MW in output and are designed to run on natural gas as well as alternative fuels including hydrogen blends. Its installed base of approximately 44 GW spans industrial, utility, and data center customers across more than five continents. The Services segment, which accounted for approximately 48% of FY2025 revenue, provides parts and maintenance under multi-year contracts tied to the installed base. The industry is experiencing strong market growth driven by AI data centers and broader electrification, although the company is leveraged at 3.6x net debt/EBITDA.
Quantum computer developer Quantinuum (QNT) is set to raise $1 billion at a $12.2 billion market cap. Quantinuum develops quantum computing systems and software with the goal of commercializing quantum technology for enterprise and government applications. The company operates on the premise that future computing will be hybrid in nature, combining classical processors, GPU-based accelerated compute, and quantum processing units to tackle problems that conventional systems cannot efficiently solve. Its work spans hardware development and software, targeting use cases in fields such as artificial intelligence, cybersecurity, drug discovery, and materials science. Quantinuum has achieved best-in-class fidelity and a best-in-class overhead ratio, but it currently has limited commercial traction due to how early stage the technology is.
Aerospace equipment maker Applied Aerospace & Defense (AADX) is set to raise $634 million at a $3.3 billion market cap. Applied Aerospace & Defense was formed in December 2025 through the merger of Applied Aerospace, founded in 1954, and PCX Aerosystems, founded in 1900. The company provides design, engineering, and manufacturing services for the space and defense industries, producing complex subsystems built to withstand extreme operating environments. It serves three primary markets: space and launch systems; defense aviation and airborne systems; and C5ISR and precision strike systems. The company had 25% growth in 2025, and a $1.1 billion backlog as of 3/31/26, although most of its 2025 revenue came from just three customers.
Advertising mobile app software Liftoff Mobile (LFTO) is set to raise $399 million at a $3.9 billion market cap. Liftoff Mobile, formed in 2021 through the merger of Liftoff and Vungle, provides an AI-powered platform that supports user acquisition and ad monetization for mobile app advertisers and publishers across various verticals like social media, finance, entertainment, and gaming. As of September 30, 2025, its software development kit is integrated into over 140,000 apps, connecting to approximately 1.4 billion daily active users worldwide, while serving over 1,000 marketers globally. The company previously filed to go public in January, but withdrew its IPO papers at the eleventh hour in February amid a sell-off in software stocks.
Development-stage mining company Sunshine Silver Mining & Refining (SSMR) is set to raise $300 million at a $2.3 billion market cap. Sunshine Silver Mining & Refining owns and is developing the Sunshine Mine and related refining facilities in Kellogg, Idaho, a historically producing silver mine with byproducts including antimony, copper, and lead. The company is focused on maintaining and modernizing the site in preparation for a planned restart of mining, milling, and refining operations. Operations are currently on care and maintenance, with a restart targeted for 2028.
Coastal-focused property and casualty insurer Safepoint Holdings (SFPT) is set to raise $267 million at a $1.2 billion market cap. Safepoint Holdings is a specialty property and casualty insurer focused on coastal markets, primarily Florida and Louisiana, serving both homeowners and small commercial policyholders. The company operates through a predominantly fee-based platform that manages the full insurance value chain, combining a wholly owned insurance subsidiary with policyholder-owned reciprocal exchanges that Safepoint manages as attorney-in-fact.
Natural gas mineral and royalty business WhiteHawk Minerals (WHK) is set to raise $180 million at a $678 million market cap. WhiteHawk is a natural gas mineral and royalty business, with assets concentrated in the Marcellus and Haynesville Shales in the Appalachian and Haynesville Basins. As of December 31, 2025, the company's portfolio spans approximately 3.4 million gross drilling spacing unit (DSU) acres, including 1.6 million gross DSU acres across the Appalachian and Haynesville Basins and represents an economic interest in approximately 13% of all natural gas produced in the US. WhiteHawk plans to issue a quarterly dividend.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Applied Aerospace (AADX) Huntsville, AL | $634M $3,330M | $18 - $21 32,500,000 | Morgan Stanley Jefferies |
| Manufactures equipment and components for aerospace and defense uses. | |||
| INNIO (INIO) Munich, Germany | $1,913M $19,125M | $24 - $27 75,000,000 | Goldman JP Morgan |
| Producer of natural gas engines and power generation systems. | |||
| Liftoff Mobile (LFTO) Redwood City, CA | $399M $3,865M | $20 - $22 19,000,000 | Goldman Jefferies |
| Provides AI-powered advertising and monetization software for mobile apps. | |||
| Quantinuum (QNT) Broomfield, CO | $1,000M $12,243M | $45 - $50 21,052,632 | JP Morgan Morgan Stanley |
| Quantum computer developer being carved out of Honeywell. | |||
| Safepoint Holdings (SFPT) Tampa, FL | $267M $1,168M | $15 - $17 16,666,667 | Deutsche Bank Morgan Stanley |
| Specialty homeowners and commercial property insurer focused on coastal markets. | |||
| Sunshine Silver (SSMR) Kellogg, ID | $300M $2,302M | $13.50 - $16.50 20,000,000 | Morgan Stanley Scotiabank |
| Development-stage silver mining and refining company with a project in Idaho. | |||
| WhiteHawk Minerals (WHK) Philadelphia, PA | $180M $678M | $25 - $27 6,925,000 | Raymond James Stifel |
| Owns natural gas mineral and royalty interests in the Marcellus and Haynesville Shales. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 5/28/2026, the Renaissance IPO Index was up 22.5% year-to-date, while the S&P 500 was up 11.0%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Astera Labs (ALAB) and Arm Holdings (ARM). The Renaissance International IPO Index was up 32.0% year-to-date, while the ACWX was up 13.4%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kioxia and CATL.
