No traditional IPOs are currently scheduled for the week ahead as the government shutdown continues to mostly pause new issuance. However, as we saw this past week, SPACs and micro-caps can still price their deals with little notice. In addition, pre-revenue solar electric vehicle developer Aptera Motors (SEV) plans to complete a direct listing on the Nasdaq on Thursday, October 16.
Right now, companies can still go public if they have already had their registration statements declared effective by the SEC, which is the case for many smaller names on file. The majority of notable IPO candidates will likely need to wait or opt for a more creative alternative, like the rarely-used pathway under Section 8(a) of the Securities Act. This allows registration statements to automatically become effective after 20 days, provided the company launches with a proposed price rather than a range.
However, in new guidance issued by the SEC this week, companies can now rely on Rule 430A in addition to Section 8(a), allowing them to launch IPOs with a price range, as well as price outside of the range. The 20-day waiting period for effectiveness still applies. This increased flexibility may encourage more companies to move forward with listings if the shutdown extends much longer.
Street research is expected for five companies in the week ahead, and three lock-up periods 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 10/9/2025, the Renaissance IPO Index was up 20.5% year-to-date, while the S&P 500 was up 15.7%. Renaissance Capital’s IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Astera Labs (ALAB) and Arm (ARM). The Renaissance International IPO Index was up 44.1% year-to-date, while the ACWX was up 28.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Galderma and Horizon Robotics.