Two IPOs are currently scheduled to list in the week ahead, although some smaller issuers may also join the calendar throughout the week.
Cardiovasular disease biotech Kardigan (KARD) is set to raise $350 million at a $1.6 billion market cap. Kardigan is advancing three late-stage product candidates: danicamtiv, an oral cardiac myosin activator in a Phase 2b/3 trial for genetic dilated cardiomyopathy caused by MYH7 and TTN gene variants; ataciguat, an oral soluble guanylate cyclase activator in a Phase 2b trial targeting calcific aortic valve stenosis progression; and tonlamarsen, a subcutaneous antisense oligonucleotide administered once monthly that targets hepatic angiotensinogen for blood pressure management in post-hospitalization acute severe hypertension. Kardigan also operates the Prolaio platform, a proprietary data and analytics system incorporating FDA-cleared algorithms and wearable sensor integration designed to collect continuous real-world physiologic data from patients during clinical trials.
North Carolina-based bank First Carolina Financial Services (FCBM) is set to raise $83 million at a $454 million market cap. First Carolina Bank provides commercial and consumer banking services to small and medium-sized businesses, individuals, professionals, and higher education institutions. The company operates a regional banking footprint alongside a national financial services business, supported by a technology-based platform for portfolio management and risk operations. The company has branches in North and South Carolina, Georgia, and Virginia. As of March 31, 2026, First Carolina had $3.4 billion in total assets, $2.7 billion in loans, $3.0 billion in deposits, and $353 million in shareholders' equity, as well as over 524,000 customer deposit accounts.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| First Carolina Financial (FCBM) Raleigh, NC | $83M $454M | $14 - $16 5,500,000 | KBW |
| Community bank with branches in North and South Carolina, Georgia, and Virginia. | |||
| Kardigan (KARD) Princeton, NJ | $350M $1,592M | $14 - $16 23,333,334 | JP Morgan Jefferies |
| Phase 2b/3 biotech developing therapies for cardiovascular diseases. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/11/2026, the Renaissance IPO Index was up 21.1% year-to-date, while the S&P 500 was up 8.6%. 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 32.4% year-to-date, while the ACWX was up 10.9%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kioxia and Galderma.
