IPO lock-up expirations: May 2025

6 US IPO lock-ups ended in May 2025, including Pony AI Inc. (PONY), Brazil Potash Corp. (GRO) and Wing Yip Food Holdings Group Ltd (WYHG).

The lock-up end date is the IPO pricing date plus the lock-up period stated in the final prospectus (usually 180 days); shares can typically be sold from the next trading day. Many agreements allow earlier release, often after an earnings report or if the stock trades above a set price, and the banks can waive them. "Staged" means the prospectus also sets other release dates for some shares. The prospectus's Underwriting section has the exact terms; dates here are not investment advice.