Ticker LaunchIPO lock-up expirations: August 2025
12 US IPO lock-ups ended in August 2025, including SailPoint, Inc. (SAIL), Titan America SA (TTAM) and Karman Holdings Inc. (KRMN).
| Lock-up ends | Company | Symbol | IPO date | IPO price | Raised | Market cap at IPO | Lock-up | Lead-left |
|---|---|---|---|---|---|---|---|---|
| Sat Aug 2, 2025 | Infinity Natural Resources, Inc. | INR | Feb 3, 2025 | $20.00 | $265M | $265M | 180 days | Citigroup |
| Tue Aug 5, 2025 | EPWK Holdings Ltd. | EPWK | Feb 6, 2025 | $4.10 | $11.3M | $75.2M | 180 days | Cathay Securities |
| Wed Aug 6, 2025 | Titan America SA | TTAM | Feb 7, 2025 | $16.00 | $384M | $2.95B | 180 days | Citigroup |
| Wed Aug 6, 2025 | Sionna Therapeutics, Inc. | SION | Feb 7, 2025 | $18.00 | $190.6M | $765.4M | 180 days | Goldman Sachs |
| Tue Aug 12, 2025 | Karman Holdings Inc. | KRMN | Feb 13, 2025 | $22.00 | $506M | $2.91B | 180 days | Citigroup |
| Tue Aug 12, 2025 | Aardvark Therapeutics, Inc. | AARD | Feb 13, 2025 | $16.00 | $94.2M | $342.2M | 180 days | Morgan Stanley |
| Wed Aug 13, 2025 | SailPoint, Inc. | SAIL | Feb 14, 2025 | $23.00 | $1.38B | $12.8B | 180 days | Morgan Stanley |
| Wed Aug 13, 2025 | Northpointe Bancshares Inc | NPB | Feb 14, 2025 | $14.50 | $151.1M | $497.5M | 180 days | Stifel |
| Wed Aug 13, 2025 | TEN Holdings, Inc. | XHLD | Feb 14, 2025 | $6.00 | — | $164.1M | 180 days | Bancroft |
| Wed Aug 20, 2025 | DataMeds AI, Inc. | WGRX | Feb 21, 2025 | $4.50 | $4M | $233.7M | 180 days | Craft Capital |
| Tue Aug 26, 2025 | Luda Technology Group Ltd | LUD | Feb 27, 2025 | $4.00 | $10M | $90M | 180 days | Revere |
| Tue Aug 26, 2025 | LZ Technology Holdings Ltd | LZMH | Feb 27, 2025 | $4.00 | $7.2M | $90M | 180 days | Benjamin |
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.
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