One IPO priced this past week, joined by four SPACs.
Cardiovascular disease biotech Scribe Therapeutics (SCTX) upsized and priced at the high end to raise $129 million at a $273 million market cap. Scribe is developing in vivo CRISPR-based therapies, with an initial focus on cardiovascular and metabolic disease. Its lead candidate uses an epigenetic silencing approach to durably lower LDL-C by repressing PCSK9 expression, without permanently altering DNA. It's currently in a first-in-human trial in Australia under TGA clearance, with initial data expected in the first half of 2027. Scribe popped 44%.
| 5 IPOs During the Week of July 20th, 2026 | |||||
|---|---|---|---|---|---|
| Issuer Business | Deal Size | Market Cap at IPO | Price vs. Midpoint | First Day Return | Return at 07/24 |
| Scribe Therapeutics (SCTX) | $129M | $273M | 7% | +44% | +44% |
| Phase 1 biotech developing CRISPR genetic therapies for high cholesterol. | |||||
| Southern Cross Acq. I (NCOOU) | $100M | $128M | 0% | +0% | +0% |
| Blank check company targeting businesses with industry leadership and revenue visibility. | |||||
| Pelican Acquisition II (PLCIU) | $75M | $106M | 0% | +0% | +0% |
| Blank check company targeting the technology industry. | |||||
| Market Technology Acq. (MTAKU) | $200M | $274M | 0% | +0% | +0% |
| Blank check company targeting US equities and options clearing infrastructure. | |||||
| B&R Technology Merger (BRTMU) | $325M | $440M | 0% | +0% | -1% |
| Blank check company led by venture capitalist David York focused on tech companies with AI tailwinds. | |||||
Two sizable issuers joined the IPO pipeline, led by defense tech firm Lyntris (LYNX), which filed for an estimated $300 million offering.
| 7 Filings During the Week of July 20th, 2026 | |||
|---|---|---|---|
| Issuer Business | Deal Size | Sector | Lead Underwriter |
| Bluerock Acquisition II (BRRKU) | $150M | SPAC | BTIG |
| Blank check company backed by Bluerock targeting Web3 businesses. | |||
| K2 Capital Acquisition II (KIIU) | $150M | SPAC | D. Boral Capital |
| Blank check company targeting national defense and critical infrastructure. | |||
| Lyntris (LYNX) | $300M | Industrials | Evercore ISI |
| Provides defense tech connectivity solutions for military operations. | |||
| NorthStrive Acquisition I (NOSU.RC) | $100M | SPAC | D. Boral Capital |
| Blank check company targeting manufacturing companies. | |||
| Pinnacle Acquisition (PNAQ.U) | $200M | SPAC | Santander |
| Blank check company targeting commercial and consumer finance businesses. | |||
| Gravitics (GVTX) | $125M | Industrials | Lucid Cap. Mkts. |
| Develops large space structures and orbital systems. | |||
| TCGX Acquisition (TCGX) | $75M | SPAC | Jefferies |
| Blank check company formed by TCGX executives targeting healthcare in Asia. | |||
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 7/23/2026, the Renaissance IPO Index was up 16.7% year-to-date, while the S&P 500 was up 8.9%. 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 38.7% year-to-date, while the ACWX was up 12.9%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Galderma and CATL.
