NEW YORK, June 27, 2026, 05:50 EDT
- Five companies are set to go public in the U.S. during the week of June 29, with midpoint proceeds estimated at $2.56 billion, according to Reuters using data from Renaissance Capital.
- Bending Spoons NASDAQ:BSP makes up roughly 61% of the total. NYSE markets will be closed July 3 for Independence Day observed.
- Doncasters Group NYSE:DPC jumped 43% by Friday, finishing last week as a clean winner. DSC Holdings NASDAQ:DSC gave up 57%.
IPO activity slows this week as U.S. equity desks face a slim calendar. Just five deals are lined up. Software buyer Bending Spoons NASDAQ:BSP is set to bring most of the money, with about $1.57 billion of the expected $2.56 billion total, using midpoint numbers from Renaissance Capital’s calendar. NYSE is closed Friday, July 3, for the Independence Day holiday.
That focus is the bet. If Bending Spoons books well, investors are still after big software deals after a strong June. A slower book will flag debt, M&A risk, and the 41% secondary chunk ahead of the next big tech IPOs.
Three operating-company IPOs and four SPACs priced last week. Doncasters Group, listed as DPC Holdings NYSE:DPC, raised $919 million at a $4.8 billion valuation and closed the week up 43%. Sinda NYSE:SIND brought in $213 million and finished unchanged. DSC Holdings NASDAQ:DSC raised $51 million and dropped 57%.
Doncasters was the clear win. The company priced 27.9 million shares at $33, topping the $28 to $32 range. Shares opened at $44. “Global conflict and rapidly increased military spending have certainly driven a fair amount of growth here, and growth is what’s selling these aerospace deals,” said Matt Kennedy, senior strategist at Renaissance Capital. Lukas Muehlbauer of IPOX Research said Doncasters is “not just a pure-play defense story” citing AI-related power demand driving their industrial gas turbines. Reuters
DSC’s loss was big enough to count. Renaissance labeled it as one of the worst $50 million-plus IPO debuts it tracked. The result was clear: industrial engine stocks took home the money, smaller China software plays did not.
Next week’s proceeds look bigger. CopperTech Metals NYSE:CUX and ITG NASDAQ:ITG have $400 million offerings set. Lime NASDAQ:LIME is on the calendar for $174 million. MetaOptics NASDAQ:MOT could come with $18 million, pending confirmation. Altogether, the week’s IPO schedule is about 33% larger than last week, which had seven deals. It’s also more than double last week’s total for operating companies, by Renaissance’s tables.
The money is mostly going to Bending Spoons, CopperTech, and ITG, which account for around 92% of expected proceeds. This week looks to be more about pricing for these bigger names—software M&A, copper, broadband—than about breadth across deals.
Bending Spoons is the largest play yet. The company owns and operates digital businesses like AOL, Eventbrite, Vimeo, and WeTransfer. In March, its products had over 500 million monthly active users and topped 9 million paying subscribers each month. CEO Luca Ferrari said in a prospectus letter, quoted by Reuters, “We’ve identified more than 1,000 digital businesses” as possible future acquisitions. Reuters
Bending Spoons’ $18.1 billion market cap target is the valuation risk, according to Renaissance. Leverage sits at 4.0x net debt to LTM adjusted EBITDA. Investors face a debt-heavy software acquirer, not a pure SaaS growth story.
IPO underwriters have some space with the broader tape. Renaissance reported its IPO Index gained 23.9% for the year through June 25, compared to 8.1% for the S&P 500. The International IPO Index jumped 53.2%, better than the ACWX’s 14.6%.
The pipeline thickened again. SK hynix KRX:000660 is looking to raise as much as $29.4 billion by listing on Nasdaq via an ADR, saying the money would go to chip plants and gear. Ryu Young-ho, senior analyst at NH Investment & Securities, said listing alongside Micron NASDAQ:MU on Nasdaq could give SK hynix “an opportunity to be re-rated in the U.S. market.” Reuters
SK hynix isn’t on the calendar for next week, but it remains the bellwether deal. Reuters said its ADR bookbuild will kick off July 6, with final pricing set for July 9 and trading on Nasdaq set to begin July 10. Bankers now have a week to gauge whether Bending Spoons can cross the line before the bigger AI-memory offering from SK hynix starts drawing cash.
Related articles: NASDAQ:BSP
