Two sizable IPOs are currently scheduled in the week ahead, although some smaller deals may also join the calendar throughout the week.
Data center operator Csquare (CSQR) is set to raise $1.3 billion at a $3.9 billion market cap. Csquare is a carrier-neutral colocation data center operator that provides enterprises, network service providers, and cloud platforms with space, power, and connectivity infrastructure to house and operate their IT equipment. As of March 31, 2026, the company operates 64 facilities across 21 major US metropolitan markets, offering services that include enterprise colocation, interconnection, and additional managed infrastructure solutions. Csquare’s adjusted EBITDA margin has improved to 40% in the LTM, up significantly from 9% in 2023, although the firm is extremely levered at 12.1x net debt/LTM adjusted EBITDA.
Small modular reactor fuel developer Standard Nuclear (STDN) is set to raise $356 million at a $3.7 billion market cap. Standard Nuclear designs, engineers, and manufactures TRISO fuel, an advanced nuclear fuel used in small modular reactors and microreactors. The company operates the only dedicated, privately funded industrial-scale TRISO production line in the United States, having acquired the underlying assets from Ultra Safe Nuclear through a bankruptcy auction in 2024. It generates revenue primarily through fuel development agreements with commercial customers and US government agencies, and had a total contract backlog of up to $245 million. However, its manufacturing is dependent on customers’ ability to procure enriched uranium feedstock, including HALEU, which currently has no commercial supply in the US.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Csquare (CSQR) Coppell, TX | $1,250M $3,908M | $23 - $27 50,000,000 | Morgan Stanley TD Securities |
| Owns and operates 64 data centers across the US and UK, and provides colocation services. | |||
| Standard Nuclear (STDN) Oak Ridge, TN | $356M $3,715M | $18 - $21 18,250,000 | BofA Goldman |
| Manufactures TRISO fuel for small modular reactors across the US. | |||
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Street research is expected for three companies in the week ahead, and one lock-up period 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 7/9/2026, the Renaissance IPO Index was up 27.5% year-to-date, while the S&P 500 was up 10.9%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Astera Labs (ALAB) and CoreWeave (CRWV). The Renaissance International IPO Index was up 45.7% year-to-date, while the ACWX was up 13.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Galderma and Kioxia.
