Get Ready for the Busiest IPO Week in 4 Years

If you have any questions or are interested in learning more about going public and our investor relations service in the IPO space, please reach out to felicia.oyebode@iecapitalusa.com. 

If you've been waiting for a sign that the IPO market has its legs back, this week might be it. Seven companies are set to go public, each raising $100 million or more. 

To put it in perspective, that kind of clustering hasn't happened since 2021, and it's only the second time in four years we've seen a week this packed.

Yet, what makes the lineup worth paying attention to goes beyond solely the count. Biotech deals are back after a long dry spell, consumer brands are finding enough conviction to price, and the year's first billion-dollar IPO is ready to test demand. The window feels open, and issuers are moving with urgency to get through it.

Whether it stays open is another question. A potential U.S. government shutdown is lurking in the background and could rattle timing. But regardless, here's a look at all seven deals and what they're telling us.

Veradermics Therapeutics: A $200 Million Bet on a Hair Loss Pill

Veradermics is targeting a $200 million raise at a roughly $509 million valuation, and the pitch is straightforward: an oral, non-hormonal hair regrowth pill that could replace the messy topical treatments millions of people already use. Founded by a dermatologist, the company has a Phase 2/3 trial fully enrolled in men and two more Phase 3 trials underway across male and female patients, all aimed at supporting an FDA submission.

The company is pre-revenue and burned through $43.9 million in R&D over the first nine months of 2025, posting a $48.1 million net loss. But investor appetite is clearly there. Veradermics closed an oversubscribed $150 million Series C in late 2025 to keep funding the path to approval. Pattern hair loss affects a massive, undertreated population, and Veradermics is banking on being first to market with a viable oral option.

Bob's Discount Furniture: The Value Furniture Retailer Testing Public Market Appetite

Bob's Discount Furniture is looking to raise $370 million at a $2.4 billion valuation, and the numbers backing the offering are hard to ignore. The company pulled in $2 billion in trailing twelve-month revenue through September 2025, with full-year revenue expected to hit $2.4 billion. Net income came in at $119 million, and adjusted EBITDA jumped 35.7% to $164 million on the strength of 10.5% comparable sales growth.

With over 200 showrooms across a well-established multi-state footprint, Bob's has built its brand around value-priced furniture and fast delivery. The model leans heavily on brick-and-mortar, but strong cross-channel engagement gives it an omnichannel edge. 

One thing worth noting, though: the company took on a $350 million term loan in October 2025, so investors will want to understand how that debt fits into the growth picture.

Eikon Therapeutics: A Big-Time Biotech Puts Its Chips on Oncology

Eikon Therapeutics plans to raise $318 million at a $908 million valuation, bringing one of the most heavily funded private biotechs to the public market. Led by former Merck executives, the company has raised over $1 billion privately and is advancing a pipeline of oncology drug candidates. The headliner is a TLR7/8 dual agonist currently in global Phase 2/3 trials, alongside earlier-stage programs that include a WRN helicase inhibitor in Phase 1/2.

The financials tell a familiar pre-revenue biotech story. Eikon posted a $243.8 million net loss for full-year 2025 with zero product revenue. And the path here hasn't been entirely smooth: the company cut 15% of its staff in May 2025 amid funding pressures. 

Still, the breadth of the clinical portfolio and the caliber of the leadership team give Eikon a credible case to make on the roadshow.

Forgent Power Solutions: The Year's First Billion-Dollar IPO

This is the big one. 

Forgent Power Solutions is set to raise $1.6 billion at an $8.2 billion valuation, making it the largest IPO of the week and the first billion-dollar offering of 2026. Forgent designs and manufactures electrical distribution equipment, including transformers and switchgear, for data centers, power grids, and industrial facilities. 

And right now, demand is surging. The growth story here ties directly to the AI infrastructure buildout. 

Hyperscalers accounted for 42% of Forgent's revenue through demand for customized high-power solutions. Fiscal 2025 revenue grew 56% to $753.2 million, and the backlog stood at over $1 billion as of September 2025, up 44% year-over-year. Forgent has been expanding manufacturing capacity to keep pace, and the order book suggests demand isn't slowing down. 

If you’re looking for direct exposure to the picks-and-shovels side of the AI trade, Forgent offers one of the more direct plays to hit the public market in some time. 

Liftoff Mobile: Big Backers, Big Reach, Big Questions

Liftoff Mobile plans to raise $762 million at a $5.5 billion valuation, and the scale of the business backs up the ask. Born from the merger of Liftoff and Vungle, with Blackstone and General Atlantic behind it, the company operates an AI-powered mobile ad platform whose SDK sits inside hundreds of thousands of apps. That kind of distribution puts Liftoff in front of 1.4 billion daily users across gaming, finance, and social media, supporting both user acquisition and ad monetization.

Revenue tells a solid growth story at $633.8 million over the trailing twelve months through September 2025, with $491.6 million of that coming in the first nine months alone. The problem, though, is the bottom line. A $66.5 million net loss over that same period raises the obvious question: when does all that reach start converting into profit? Liftoff has the backing and the distribution to justify a premium listing, but investors will price the stock on margin trajectory, not just user count.

Once Upon a Farm: The Celebrity-Backed Consumer Brand Going Public

Once Upon a Farm is targeting a $209 million raise at a $724 million valuation, and the growth trajectory here is striking. Co-founded by Jennifer Garner, the company sells organic, refrigerated baby and children's food through retail and direct-to-consumer channels. Net sales went from $8 million in 2018 to $201.6 million in just the first half of 2025, a 64.6% compound annual growth rate that few consumer brands can match. The product lineup of cold-pressed pouches, snacks, and meals has found broad retail distribution, and the DTC business adds another layer of margin potential. 

That said, the company sources ingredients from Mexico and South America, which means tariff exposure could squeeze costs depending on how trade policy plays out. Regardless of this risk, though, the brand recognition and growth numbers give Once Upon a Farm a compelling story.

AgomAb Therapeutics: Rounding Out the Biotech Comeback

AgomAb Therapeutics caps off the week with a $213 million raise at an $875 million valuation, and its presence on the calendar says something about where biotech sentiment stands right now. Three clinical-stage biotechs pricing in a single week would have been unthinkable a year ago.

The Belgian company is developing therapies for fibrotic and inflammatory diseases, starting with ontunisertib, an oral inhibitor targeting the TGF-β pathway in fibrostenosing Crohn's disease. An inhaled therapy for idiopathic pulmonary fibrosis sits behind it in the pipeline. 

AgomAb is pre-revenue and posted a net loss of €45.1 million ($54 million) through the first nine months of 2025, up from €34.5 million (~$41 million) the year prior. Private investors remain confident, though. The company closed a $100 million Series C in early 2026, giving it fresh runway heading into the public market.

What This Week Really Tells Us About the IPO Market

Seven offerings in five days, spanning biotech, consumer, ad tech, power infrastructure, and furniture retail. That kind of breadth hasn't shown up in a single week since 2021, and it points to something worth paying attention to: the IPO window isn't just cracking open for one type of company anymore. Issuers across sectors are reading the conditions as favorable enough to move.

The real test comes after pricing. How these deals trade in the first few weeks will set the tone for the rest of Q1 and shape whether the pipeline behind them accelerates or pulls back. A strong showing gives boardrooms and sponsors the confidence to push forward. A few stumbles, or a government shutdown throwing sand in the gears, could cool things off fast. 

Either way, this week will tell us a lot about what the back half of 2026 looks like for new issuance.

If you have any questions or are interested in learning more about going public and our investor relations service in the IPO space, please reach out to felicia.oyebode@iecapitalusa.com. 

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