Anthropic launches IPO roadshow at $70–78 per share
Anthropic has begun marketing its Nasdaq listing to investors, offering 825 million shares at $70–78 each, which implies a raise of roughly $58–64 billion before any underwriter option.
Anthropic announced on Tuesday that it has launched the roadshow for its proposed initial public offering of Class A common stock. This moves the listing on from the Nasdaq filing we reported earlier to active marketing with a set price range.
The offering covers 825,000,000 shares at an expected price of $70.00 to $78.00 each. Anthropic is selling 801,351,354 of those shares, and certain existing stockholders are selling the remaining 23,648,646. Anthropic will not receive any proceeds from the shares sold by stockholders.
At the ends of the range, the full offering would total about $57.8 billion to $64.4 billion. Anthropic's own share of that would be roughly $56.1 billion to $62.5 billion. The company also expects to give underwriters a 30-day option to buy up to 123,750,000 additional shares. If that option is fully exercised, the offering would total about $66.4 billion to $74.0 billion.
Anthropic, which is a public benefit corporation, has applied to list on the Nasdaq Global Select Market under the ticker "ANT." Goldman Sachs and Morgan Stanley are named as contacts for the preliminary prospectus.
The registration statement has been filed with the SEC but is not yet effective, so the shares cannot be sold until it is.
The announcement does not say how many shares will be outstanding after the offering, so it does not establish an implied market valuation. It also does not give an expected pricing date or explain how the proceeds will be used.