Anthropic plans to publicly unveil IPO prospectus after Labor Day, the Information reports

Anthropic, a rival AI firm to OpenAI, is set to reveal its IPO prospectus following the Labor Day holiday, according to The Information. The tech startup filed for a public listing earlier this year, vying for a market debut alongside OpenAI amidst strong investor interest in AI companies.

Messrs. in the know suggest that Anthropic is contemplating allowing existing shareholders to sell their shares during the IPO process, and is also considering longer lockup periods than the standard 180 days. This move would differentiate Anthropic from other major tech IPOs such as SpaceX and Cerebras, which did not permit existing stockholders to sell shares prior to their listings.

SpaceX, which recently allowed its lockup holders to sell shares, saw its publicly traded shares nearly double following the first expiry earlier this month. Another 12.9 billion shares are slated to be unlocked by mid-2027 under SpaceX's staggered release schedule. In contrast, Anthropic is expected to raise over $86 billion in its upcoming IPO, surpassing SpaceX's record-setting June listing, according to The Information.

The exact composition of Anthropic's IPO, including the proportion of new shares versus those sold by existing holders, remains unclear. The company has reportedly also contemplated requiring employees to participate in preset 10b5-1 trading plans, which would enable rank-and-file employees to sell shares through pre-approved schedules, rather than relying on traditional post-earnings windows.

Anthropic did not immediately provide comment to Reuters regarding the reported IPO plans.