US IPO Pipeline SEC S-1 Filings — May 08, 2026

08-05-2026

Quantinuum Inc., a Delaware corporation and emerging growth company, filed a preliminary S-1 registration statement with the SEC on May 8, 2026, for an initial public offering of an unspecified number of shares of Class A common stock on Nasdaq under the symbol 'QNT', with an anticipated price range between blank and blank dollars per share. Post-IPO, Quantinuum Inc. will operate as a holding company owning a blank % economic interest in Quantinuum Holdings, LLC, with net proceeds intended for general corporate purposes; Class B common stock will be held by Continuing Common Unitholders without economic rights. The prospectus highlights a complex organizational structure involving Reorganization Transactions and notes risks related to this setup, with no historical financial data provided in the excerpt.

• ·Registrant is a non-accelerated filer, smaller reporting company, and emerging growth company.
• ·Principal executive offices: 303 S Technology Court, Broomfield, CO 80021; phone (855) 888-7686.
• ·Underwriters granted 30-day option to purchase additional blank shares of Class A common stock.
• ·Legal counsel: Latham & Watkins LLP (Houston) and Davis Polk & Wardwell LLP (New York).

08-05-2026

Applied Aerospace & Defense, Inc., a Delaware corporation in the aerospace and defense sector, filed a preliminary S-1 registration statement with the SEC on May 8, 2026, for an initial public offering of its common stock (par value $0.01 per share) on the NYSE under the symbol 'AADX', with shares reserved for a directed share program and an underwriters' option for additional shares. The company was formed through a November 14, 2025, combination of businesses previously operating as Applied Aerospace Structures Corporation (AASC) and PCX Aerostructures, LLC (PCX), under common control of Greenbriar Equity Group, L.P., which will own a significant stake post-IPO, positioning the company as a controlled company. It qualifies as an emerging growth company and recently acquired Innovative Composite Engineering LLC on October 1, 2024, and NeXolve Holdings, LLC on March 4, 2025.

• ·Originally incorporated on October 7, 2022, as GB Eagle Topco, Inc.
• ·Principal executive offices: 335 Quality Circle NW, Huntsville, AL 35806; telephone: (202) 983 3291.
• ·Non-accelerated filer and emerging growth company; elected not to use extended transition period for new financial accounting standards.
• ·Underwriters granted option to purchase up to additional shares for 30 days post-prospectus.
• ·Expected delivery of shares: on or about a date in 2026.

08-05-2026

1st Franklin Financial Corporation, a consumer finance company with 374 branches across 10 southern states, filed an S-1 registration statement on May 8, 2026, to offer up to $125,000,000 in Series 1 Variable Rate Subordinated Debentures on a continuous basis directly to the public without an underwriter. The debentures are subordinated, unsecured debt with variable interest rates set weekly, initial 4-year maturity (auto-extending), and specific redemption terms. As of December 31, 2025, the company had $79.3 million available under its $300.0 million revolving credit facility, with $220.7 million borrowed.

• ·Company discontinued origination of real estate loans beginning in 2024; portfolio currently in runoff.
• ·Credit facility matures on December 6, 2027, and is secured by finance receivables.
• ·Debentures issued under Indenture dated October 31, 1984, as amended.
• ·Company not a bank; debentures not FDIC or SIPC insured.

08-05-2026

Smith Micro Software, Inc. filed an S-1 registration statement on May 8, 2026, to register 18,224,625 shares of common stock for resale by selling stockholders, primarily underlying warrants from recent debt and equity offerings that raised approximately $9.75 million in gross proceeds since September 2025. While the company secured extensions from Nasdaq until June 22, 2026, to regain compliance with the $1.00 minimum bid price requirement, it faces delisting risks and potential reverse stock split, which could adversely impact market capitalization. Executive appointments include William W. Smith Jr. as Executive Chairman, Timothy C. Huffmyer as President and CEO, and Bethany M. Braund as CFO, effective March 31, 2026.

• ·Nasdaq compliance period extended to June 22, 2026; requires $1.00 closing bid price for 10 consecutive business days.
• ·September warrants exercise price adjustable to $0.6708 per share pending stockholder approval at May 26, 2026 annual meeting.
• ·March convertible notes payable in monthly installments of ~$7,000 per $1,000,000 principal starting May 1, 2026; convertible after 6 months at $0.68 per share.
• ·Company considering reverse stock split to regain Nasdaq compliance, but no assurance of success and potential market capitalization reduction.

08-05-2026

DRC Medicine Inc., a Delaware corporation, filed a preliminary S-4 registration statement on May 8, 2026, for a proposed business combination with Ribbon Acquisition Corp (a Cayman Islands SPAC), involving a share exchange with DRC Medicine Ltd (Japanese corporation), domestication of Ribbon into Delaware, and a merger with DRC Merger Inc. The Business Combination Agreement was entered on June 30, 2025, with Ribbon shareholders to vote at an upcoming extraordinary general meeting; upon closing, DRC security holders are expected to own a significant portion of Pubco on a non-diluted basis, subject to redemptions. Ribbon obtained a fairness opinion confirming the transaction's fairness from a financial point of view to Ribbon shareholders.

• ·Ribbon Class B Shares to convert one-for-one into Class A Shares prior to domestication.
• ·Pubco to apply for Nasdaq listing of common stock under proposed symbols upon closing.
• ·Fairness opinion by King Kee Appraisal and Advisory Limited dated prior to June 30, 2025.

08-05-2026

First Tracks Biotherapeutics, Inc. filed an S-1 registration statement on May 8, 2026, disclosing assumed executive employment agreements and compensation from AnaptysBio, Inc. in connection with a spin-off. Named executive officers Daniel Faga (CEO), Paul Lizzul (CMO), and Mr. Tamboli (CFO) have agreements providing at-will employment with severance benefits of 9-12 months base salary and COBRA premiums upon qualifying termination, extending to 12-18 months and full equity vesting upon change in control. Outstanding equity awards as of December 31, 2025, include significant unvested options, RSUs, and PSUs valued using a $48.48 share price, with no reported performance declines but substantial contingent PSUs tied to share price targets.

• ·PSUs for Faga and Lizzul contingent on AnaptysBio achieving $50, $75, and $100 share prices.
• ·Faga Employment Agreement effective Aug 3, 2023; Lizzul effective Jul 31, 2020 amended Apr 25, 2022; Tamboli effective Apr 20, 2026.
• ·Equity vesting generally over 4 years: 1/4 on first anniversary, then 1/48 monthly; PSUs vest 50% after 1-year post-performance metric, 50% after 2-years.
• ·Options exercise prices range from $14.83 to $31.12 across grants.

08-05-2026

Akari Therapeutics Plc filed an S-1 registration statement for a best-efforts public offering of up to 1,139,818 ADSs at an assumed combined price of $6.58 per ADS with accompanying Series H and Series I Warrants, representing 123.9% of outstanding ADSs as of December 31, 2025, resulting in substantial dilution of $9.83 per ADS. The offering has no minimum proceeds requirement, potentially providing limited working capital despite existing cash sufficient to fund operations through mid-2027. Key risks include potential IPR&D impairment of $34.0 million related to AKTX-101 and ADC Platform, uncertain warrant value, future dilution, and no public market for warrants.

• ·Existing cash and cash equivalents sufficient to fund operations through mid-2027 without offering proceeds.
• ·Pre-Funded Warrants exercisable at $6.579 per ADS.
• ·Series H Warrants expire on five-year anniversary; Series I Warrants on 12-month anniversary; both exercisable immediately at no less than 100% of offering price per ADS.

08-05-2026

Safepoint Holdings, Inc., a Delaware-incorporated company in the insurance sector (SIC 6331), filed a preliminary S-1 registration statement on May 08, 2026, for an initial public offering of an undisclosed number of shares of common stock, with additional shares offered by selling stockholders. The company, an emerging growth company, plans to list on the NYSE under the symbol 'SFPT' with an estimated IPO price range of between $X and $Y per share (blanks in preliminary filing); it will not receive proceeds from selling stockholders' shares. No financial performance data or period comparisons are provided in this preliminary prospectus cover.

• ·Registrant EIN: 14-1957288
• ·Principal offices: 4010 Gunn Highway, Tampa, Florida 33618; Phone: (877)-858-7445
• ·Non-accelerated filer and emerging growth company status
• ·Underwriting includes joint bookrunners with option for up to additional shares from selling stockholders
• ·Expected share delivery in New York, New York on [blank], 2026

08-05-2026

Suncrete, Inc. (RMIX) filed an S-1 registration statement on May 8, 2026, including audited financial statements for itself (inception September 30, 2025), Haymaker Acquisition Corp. 4, and various concrete companies involved in a business combination, with auditors opining fairly on the statements. However, WithumSmith+Brown, PC was terminated as auditor on April 8, 2026, ahead of the Q1 2026 10-Q, with their report noting substantial doubt about the company's going concern due to liquidity issues and the need to complete a business combination by July 28, 2026 or face liquidation. No accounting disagreements or reportable events occurred, and multiple firms audited predecessor entities.

• ·Company inception: September 30, 2025.
• ·Business combination deadline: July 28, 2026.
• ·Withum termination notice: April 8, 2026; response letter dated April 14, 2026 (Exhibit 16.1).
• ·Financial statements cover periods including year ended December 31, 2025, and predecessors back to 2023/2024.

08-05-2026

Vaxart, Inc. filed an S-1 registration statement on May 8, 2026, to register 5,000,000 shares of common stock with a par value of $0.0001 from its authorized 350,000,000 shares. The filing discloses approximately 242,169,130 shares outstanding as of March 31, 2026, up slightly from prior periods like 240,494,594, reflecting modest dilution from offerings including ATMs. It includes financial tag data for Q1 2026 vs. Q1 2025 and FY 2025, with revenue from government contracts (BARDA, HHS) and collaborations (Daiichi Sankyo), but no specific monetary performance changes are quantified in the provided content.

• ·Par value: $0.0001 per share
• ·Filing covers periods including 2026-01-01 to 2026-03-31 and comparisons to 2025-01-01 to 2025-03-31
• ·Revenue streams: Government Contract, Collaboration Revenue, Non-Cash Royalty Revenue