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IPO lock-up expirations: September 2026

6 US IPO lock-ups ended in September 2026, including PayPay Corp (PAYP), MiniMed Group, Inc. (MMED) and Janus Living, Inc. (JAN).

Lock-up endsCompanySymbolIPO dateIPO priceRaisedMarket cap at IPOLock-upLead-left
Wed Sep 2, 2026Applied Aerospace & Defense, Inc.AADXJun 4, 2026$20.00$650M$3.41B90 daysMorgan Stanley
Wed Sep 2, 2026MiniMed Group, Inc.MMEDMar 6, 2026$20.00$560M$5.62B180 daysGoldman Sachs
Tue Sep 8, 2026PayPay CorpPAYPMar 12, 2026$16.00$496.9M$10.7B180 daysJoint (alphabetical)
Sun Sep 13, 2026Swarmer, IncSWMRMar 17, 2026$5.00$15M$61.7M180 daysLucid
Sat Sep 19, 2026Janus Living, Inc.JANMar 23, 2026$20.00$840M$5.14B180 daysBofA Securities
Mon Sep 28, 2026HMH Holding IncHMHApr 1, 2026$20.00$210.4M$861.9M180 daysJ.P. Morgan

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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Upcoming lock-up expirations