CLRS News & Events

Clear Street announced that the company's board of directors determined to voluntarily deregister its Class A common stock in order to terminate and suspend its reporting obligations under the Securities and Exchange Act of 1934, as amended. The board made the decision to pursue deregistration of the company's Class A common stock upon its determination to postpone the company's initial public offering in light of current market conditions.

Rank One Computing, 20/20 BioLabs and SharonAI all began trading last week, marking a busy stretch for AI-driven initial public offerings.LATEST IPOS AND DIRECT LISTINGS:Rank One Computingopened on February 20 at $6.30. The company priced 4M shares at $6.00. The deal size was increased to 4M shares of common stock from 3M shares of common stock and the deal priced at the high-end of the $5.00-$6.00 range. ROC is a U.S. developer and manufacturer of Vision AI, delivering sovereign biometrics, video analytics, and mission intelligence through a unified platform. "At its core, ROC transforms raw pixels into real-time operational awareness for defense, public safety, and digital commerce," the company states.20/20 BioLabsopened on February 19 at $50 after direct listing. 20/20 BioLabs develops and commercializes AI-powered, laboratory-based blood tests for the early detection and prevention of cancers and chronic diseases.SharonAIopened on February 18 at $30.24. The Australian high-performance computing company focused on artificial intelligence and cloud GPU compute infrastructure priced its initial public offering in the United States of 4,166,666 shares of its Class A ordinary common stock at a public offering price of $30.00 per share. The company intends to use the net proceeds from the offering to acquire additional GPU focused equipment and for working capital and other general corporate purposes.RECENT SPAC IPOS:Averin Capital Acquisitionopened on February 19 at $10. The blank check company may pursue an acquisition opportunity in any business or industry but expects to focus on a target in technology and health industries. Deutsche Bank Securities is acting as sole book-running manager for the offering.Abony Acquisition Corp. Iopened on February 19 at $9.99. While the company may pursue an initial business combination target in any industry or geographic region, it intends to focus on companies that have an aggregate enterprise value of approximately $750M to $1.5B or more, that complement the company's management team's background in defense technology, advanced computing, software and media industry sectors.PERFORMANCE:Prices as of 11.00 am ET on Monday, February 23 -Rank One Computing – down almost 3% at $6;20/20 BioLabs – down over 41% at $8.71;SharonAI – fractionally up at $30.91.RECENT IPOS TO WATCH:York Space Systems, Ethosand PicPayare already seeing coverage roll out as the quiet periods for banks that underwrote the companies' IPOs expire.UPCOMING IPOS:Upcoming IPO and direct listings expected include Liftoff, PayPay, OpenAI, Speed Group, and Lendbuzz.Clickto see upcoming IPO calendar on TipRanks.Liftoff Mobileannounced that it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The total number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market and other conditions and the completion of the SEC's review process.PayPay Corporationfiled for an initial public offering of American depositary shares, or ADSs, and has applied to list the ADSs on the Nasdaq Global Select Market under the symbol "PAYP." The prospects filed with the SEC states, "As Japan's leading financial technology company, we are dedicated to our goal of becoming a digital finance platform for all... We launched this service in October 2018 and it rapidly expanded to become a nation-wide leading cashless payments ecosystem that had approximately 72 million PayPay registered users as of December 31, 2025, representing a penetration of 75% among 96 million smartphone users in Japan. With the acquisition of PayPay Card Corporation in October 2022, our platform evolved to a next-generation payments ecosystem, seamlessly integrating our code-based payment and credit card payment services through our PayPay app."OpenAIis accelerating its plans for a public listing as rivalry with Anthropic intensifies, now planning on listing in Q4 of this year, Berber Jin, Corrie Driebusch, and Kate Clark of The Wall Street Journal. OpenAI is holding discussions with Wall Street banks about a potential initial public offering and has hired several executives to oversee its finance team, sources told the Journal.Elon Musk is targeting mid-June for the timing ofSpaceX's initial public offering, IPO, Ivan Levingston, Stephen Morris, and Mercedes Ruehl of The Financial Times, citing five people familiar with the matter. The company is looking to raise $50B at a valuation of $1.5T, the sources added.Speed Groupfiled a prospectus for 2.5M share initial public offering. It expects the IPO price to be in the range of $4.00 to $5.00 per. The company's operating subsidiary, Speed Logistics, is an e-commerce logistics provider providing end-to-end logistics solution in Hong Kong, Europe and North America. The services include warehousing, customs clearance, air transportation, and final delivery from the European airports. For the years ended June 30, 2024 and 2025, Speed's revenues were $17.9M and $22.64M, respectively.Lendbuzz Inc.is offering an undetermined number of shares of its common stock and the selling stockholders identified in this prospectus are offering additional shares of common stock, according to an initial public offering prospectus filed with the SEC. The company has applied to list its common stock on the Nasdaq Global Select Market under the symbol "LBZZ." The prospectus states: "Our mission is to offer fair access to credit for underserved populations. We are a financial technology company that utilizes artificial intelligence, or AI, and machine learning algorithms to better assess consumer credit risk and expand access to credit. We seamlessly process large sets of data through advanced computational approaches to more accurately predict a consumer's creditworthiness. Our business benefits both consumers through expanded access to credit, and auto dealerships via increased vehicle sales."OTHER IPO NEWS:Clear Street Grouprequested that the Registration Statement on Form S-1, initially publicly filed with the Securities and Exchange Commission on January 20, and all exhibits thereto, be withdrawn. "Due to current market conditions, the company has determined not to pursue, at this time, the initial public offering of the company's class A common stock to which the Registration Statement relates," the company stated in a filing with the SEC.Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.

Clear Street Group requests that the Registration Statement on Form S-1, initially publicly filed with the Securities and Exchange Commission on January 20, and all exhibits thereto, be withdrawn effective as of the date hereof or at the earliest practicable date hereafter. "Due to current market conditions, the company has determined not to pursue, at this time, the initial public offering of the company's class A common stock to which the Registration Statement relates," a filing with the SEC stated.

The deal size was cut to 13M shares in common stock from 23.8M shares and the range was cut to $26.00-$28.00 from $40.00-$44.00. Goldman Sachs, BofA, Morgan Stanley, UBS and Clear Street are acting as joint book running managers for the offering.