One direct listing and four SPACs debuted this week, while five IPOs and four SPACs submitted filings.
Japanese software firm Advasa Holdings (ADBT) completed its direct listing on the Nasdaq. The company develops and licenses earned wage access (EWA) systems, enabling employees to access accrued wages prior to scheduled payday. Its platform integrates with employer payroll and timekeeping systems to calculate available earned wages and facilitate disbursement. It currently serves 12 clients (10 EWA, 1 OEM, and 1 system maintenance) primarily in Japan, and is preparing to expand into additional markets in Asia and the Middle East. Advasa finished the week -50% off its March 2026 private placement price.
Four SPACs priced this week. Inflection Point Acquisition VIII (IPHXU), led by Michael Blitzer, raised $250 million to target tech-enabled businesses. Rainier Acquisition (RNAQU) raised $75 million to target life sciences. Southern Cross Acquisition II (SCATU), led by a Chinese media entrepreneur, raised $75 million. JATT III Acquisition (JTTT), formed by biotech entrepreneurs, raised $60 million to target life sciences.
| 5 IPOs During the Week of August 24th, 2026 | |||||
|---|---|---|---|---|---|
| Issuer Business | Deal Size | Market Cap at IPO | Price vs. Midpoint | First Day Return | Return at 08/28 |
| JATT III Acquisition (JTTT) | $60M | $77M | 0% | +15% | +10% |
| Blank check company formed by biotech entrepreneurs targeting life sciences businesses. | |||||
| Rainier Acquisition (RNAQU) | $75M | $96M | 0% | +2% | +2% |
| Blank check company targeting life sciences. | |||||
| Inflection Point Acq VIII (IPHXU) | $250M | $333M | 0% | +1% | +1% |
| Blank check company led by Michael Blitzer targeting technology-enabled businesses. | |||||
| Southern Cross Acq. II (SCATU) | $75M | $104M | 0% | +0% | +0% |
| Blank check company led by a Chinese media entrepreneur. | |||||
| Advasa Holdings (ADBT) | $0M | $4,871M | 0% | -37% | -50% |
| Provides earned wage access software to employers in Japan. | |||||
Sign up for a free trial of our premium platform, IPO Pro. To get our IPO calendar in your inbox, register here.
Five IPOs submitted initial filings this week. UK-based power equipment and services provider Aggreko (AGKO) filed for an IPO we estimate could raise $1.5 billion. Home insurer Bamboo Insurance (BMB) filed to raise $100 million. Antibody biotech Electra Therapeutics (ETRA) filed to raise $100 million. Metal powder producer Amaero (AMRO) filed to raise $50 million. Hawaiian community bank American Savings Bank (ASBH) filed for an IPO we estimate could raise $50 million.
Four SPACs also submitted initial filings. Haymaker Acquisition V (HYACU), the fifth SPAC backed by Haymaker, filed to raise $250 million to target industrials and consumer products and services. Graf Acquisition II (GTOO.U), led by James Graf, filed to raise $220 million to target industrials. Live Oak Acquisition VI (LOVIU), formed by Live Oak Merchant Partners, filed to raise $200 million. Essential Minerals Acquisition (EMACU) filed to raise $150 million to target precious metals and critical minerals.
| 9 Filings During the Week of August 24th, 2026 | |||
|---|---|---|---|
| Issuer Business | Deal Size | Sector | Lead Underwriter |
| Amaero (AMRO) | $50M | Materials | Stifel |
| Producer of titanium and refractory metal powders for defense and aerospace 3D printing. | |||
| Bamboo Insurance (BMB) | $100M | Financials | JP Morgan |
| Homeowner insurance managing general underwriter operating in California and Texas. | |||
| Electra Therapeutics (ETRA) | $100M | Health Care | Jefferies |
| Phase 2/3-ready biotech developing antibodies for immune-mediated diseases and cancer. | |||
| Graf Acquisition II (GTOO.U) | $220M | SPAC | Lucid Cap. Mkts. |
| Blank check company led by SPAC veteran James Graf targeting industrial and other sectors. | |||
| Haymaker Acquisition V (HYACU) | $250M | SPAC | Cantor Fitz. |
| Fifth Haymaker blank check company targeting industrial and consumer products and services. | |||
| Aggreko (AGKO) | $1,500M | Industrials | Goldman |
| Provides modular power and temperature control equipment rentals and energy services. | |||
| American Savings Bank (ASBH) | $50M | Financials | Piper Sandler |
| Hawaii community bank with 35 branches across the state. | |||
| Essential Minerals Acq. (EMACU) | $150M | SPAC | Cohen & Company |
| Blank check company targeting precious metals and critical minerals in the US. | |||
| Live Oak Acquisition VI (LOVIU) | $200M | SPAC | Santander |
| Blank check company formed by Live Oak Merchant Partners. | |||
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 8/27/2026, the Renaissance IPO Index was up 21.0% year-to-date, while the S&P 500 was up 13.8%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include CoreWeave (CRWV) and Astera Labs (ALAB). The Renaissance International IPO Index was up 42.2% year-to-date, while the ACWX was up 17.7%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Galderma and CATL.
