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 ends | Company | Symbol | IPO date | IPO price | Raised | Market cap at IPO | Lock-up | Lead-left |
|---|---|---|---|---|---|---|---|---|
| Wed Sep 2, 2026 | Applied Aerospace & Defense, Inc. | AADX | Jun 4, 2026 | $20.00 | $650M | $3.41B | 90 days | Morgan Stanley |
| Wed Sep 2, 2026 | MiniMed Group, Inc. | MMED | Mar 6, 2026 | $20.00 | $560M | $5.62B | 180 days | Goldman Sachs |
| Tue Sep 8, 2026 | PayPay Corp | PAYP | Mar 12, 2026 | $16.00 | $496.9M | $10.7B | 180 days | Joint (alphabetical) |
| Sun Sep 13, 2026 | Swarmer, Inc | SWMR | Mar 17, 2026 | $5.00 | $15M | $61.7M | 180 days | Lucid |
| Sat Sep 19, 2026 | Janus Living, Inc. | JAN | Mar 23, 2026 | $20.00 | $840M | $5.14B | 180 days | BofA Securities |
| Mon Sep 28, 2026 | HMH Holding Inc | HMH | Apr 1, 2026 | $20.00 | $210.4M | $861.9M | 180 days | J.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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