2025 Outlook: IPO Trends and Market Insights
After a quieter than expected 2024, many companies, particularly in tech, are eager to test the public markets in 2025. However, the key question remains whether the market will receive them well. While companies like Reddit have been successful, the challenge remains for many unicorns—especially the tech ones—who are questioning whether they are ready for an IPO. It's no longer just about reaching a billion-dollar valuation, but ensuring companies have solid metrics behind them.
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Upcoming IPOs: Stock Data
| Company Name | Exchange | Price Range | Shares | Expected IPO Date | Offer Amount |
|---|---|---|---|---|---|
| SailPoint Parent, LP (SAIL) | NASDAQ Global Select | $19.00 - $21.00 | 50,000,000 | 2/13/2025 | $1,207,500,000 |
| Sionna Therapeutics, Inc. (SION) | NASDAQ Global | $16.00 - $18.00 | 8,823,529 | 2/07/2025 | $182,647,044 |
| Titan America SA (TTAM) | NYSE | $15.00 - $18.00 | 24,000,000 | 2/07/2025 | $496,800,000 |
| Wellgistics Health, Inc. (WGRX) | NASDAQ Capital | $4.50 - $5.50 | 900,000 | 2/07/2025 | $4,950,000 |
| EPWK Holdings Ltd. (EPWK) | NASDAQ Global | $4.00 - $6.00 | 2,750,000 | 2/06/2025 | $18,975,000 |
IPO Size Trends
Over the years, IPO sizes have grown. 10 years ago, tech IPOs raised around $100 million, but now it’s closer to $300–500 million. Some IPOs may raise up to $500 million, partly to provide liquidity for early investors or employees.
Upcoming Companies to Invest In
Future IPO Venues: In 2026, the Texas Stock Exchange, backed by major investors like BlackRock, is expected to emerge as a new venue. While the New York Stock Exchange and NASDAQ have traditionally dominated IPO listings, the entrance of new venues could offer companies different ways to address liquidity. Some companies may even delay their IPOs or explore alternative liquidity solutions, such as tender offers or buybacks.