Offer price versus first open and first close, larger US IPOs of the trailing year

Name: Offer price versus first open and first close, larger US IPOs of the trailing year
Creator: Strasmore
Published: 2026-11-01
License: https://www.strasmore.com/terms/

Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-11-01, from How Pre-IPO Shares Trade Before the Ticker.

as of 2026-11-01 table 12×8read in context →

Offer price versus first open and first close, larger US IPOs of the trailing year — 12 rows by 8 columns, computed 2026-11-01 from US exchange, SIP and OPRA data.
ticker	issuer	listed_on	issue_price	first_open	first_close	open_vs_issue_pct	offer_size_billions
SKHY	SK Hynix Inc	2026-07-10	158.14	152.62	152.35	-3.5	28.13
MDLN	Medline Inc	2025-12-17	29	35	41	20.7	7.2
CBRS	Cerebras Systems Inc	2026-05-14	185	350	311.07	89.2	5.55
INIO	Innio N.V.	2026-06-04	27	31	33.3	14.8	2.43
MAIR	Madison Air Solutions Corp.	2026-04-16	27	32	31.75	18.5	2.23
FRVO	Fervo Energy Co.	2026-05-13	27	36	36.54	33.3	1.89
BXDC	Blackstone Digital Infrastructure Trust Inc.	2026-05-14	20	20	19.81	0	1.75
SOMN	Southern Company	2025-11-12	50	49.5	50.12	-1	1.75
BSP	Bending Spoons S.p.A.	2026-07-01	29	31	40.5	6.9	1.68
QNT	Quantinuum Inc.	2026-06-04	60	68	60.38	13.3	1.68
FPS	Forgent Power Solutions Inc.	2026-02-05	27	26	29	-3.7	1.51
AIAI	AIAI Holdings Corp	2026-05-11	20	12	15.09	-40	1.39

Rows × columns: 12 × 8
Period covered: 2025-11-12 to 2026-07-10
Computed: 2026-11-01
Completeness: No missing values
Source: US exchange, SIP and OPRA market data
Licence: Strasmore terms · free, no signup
Formats: JSON · CSV · the SQL below

What each column holds

Column definitions for Offer price versus first open and first close, larger US IPOs of the trailing year, derived from the stored result.
Column	Type	Range	Notes
`ticker`	text	12 distinct values (AIAI, BSP, BXDC…)
`issuer`	text	12 distinct values
`listed_on`	date	2025-11-12 to 2026-07-10
`issue_price`	number	20 to 185	US dollars
`first_open`	number	12 to 350	US dollars
`first_close`	number	15.09 to 311.07	US dollars
`open_vs_issue_pct`	number	-40 to 89.2	percent
`offer_size_billions`	number	1.39 to 28.13

Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on 2026-11-01, and the query below is what returned them.

Run it yourself

This is the exact query behind the result above. Change a ticker, a date or a column and run it against the warehouse — no account, no key. The no-signup tier is smaller than the one this page was computed on; a query that reaches past it comes back saying which plan runs it.

WITH ipos AS
(
    SELECT
        ticker,
        any(issuer_name)                      AS issuer,
        max(toDate(listing_date))             AS listed_on,
        max(toFloat64(final_issue_price))     AS issue_price,
        max(toFloat64(total_offer_size))      AS offer_size
    FROM global_markets.stocks_ipos
    WHERE ipo_status IN ('history', 'new')
      AND toDate(listing_date) >= today() - 365
      AND toDate(listing_date) <= today() - 3
      AND ticker NOT IN ('SPCX')
      AND ifNull(issuer_name, '') NOT ILIKE '%acquisition%'
    GROUP BY ticker
    HAVING issue_price > 0 AND offer_size >= 100000000
)
SELECT
    i.ticker                                              AS ticker,
    i.issuer                                              AS issuer,
    toString(i.listed_on)                                 AS listed_on,
    round(i.issue_price, 2)                               AS issue_price,
    round(d.first_open, 2)                                AS first_open,
    round(d.first_close, 2)                               AS first_close,
    round((d.first_open / i.issue_price - 1) * 100, 1)    AS open_vs_issue_pct,
    round(i.offer_size / 1e9, 2)                          AS offer_size_billions
FROM ipos AS i
INNER JOIN
(
    SELECT
        ticker,
        min(toDate(date))                 AS first_session,
        argMin(toFloat64(open), date)     AS first_open,
        argMin(toFloat64(close), date)    AS first_close
    FROM global_markets.stocks_daily_aggs
    WHERE date >= today() - 400
    GROUP BY ticker
) AS d ON d.ticker = i.ticker
WHERE d.first_session BETWEEN i.listed_on - 1 AND i.listed_on + 5
ORDER BY i.offer_size DESC
LIMIT 12

SQL to run

WITH ipos AS
(
    SELECT
        ticker,
        any(issuer_name)                      AS issuer,
        max(toDate(listing_date))             AS listed_on,
        max(toFloat64(final_issue_price))     AS issue_price,
        max(toFloat64(total_offer_size))      AS offer_size
    FROM global_markets.stocks_ipos
    WHERE ipo_status IN ('history', 'new')
      AND toDate(listing_date) >= today() - 365
      AND toDate(listing_date) <= today() - 3
      AND ticker NOT IN ('SPCX')
      AND ifNull(issuer_name, '') NOT ILIKE '%acquisition%'
    GROUP BY ticker
    HAVING issue_price > 0 AND offer_size >= 100000000
)
SELECT
    i.ticker                                              AS ticker,
    i.issuer                                              AS issuer,
    toString(i.listed_on)                                 AS listed_on,
    round(i.issue_price, 2)                               AS issue_price,
    round(d.first_open, 2)                                AS first_open,
    round(d.first_close, 2)                               AS first_close,
    round((d.first_open / i.issue_price - 1) * 100, 1)    AS open_vs_issue_pct,
    round(i.offer_size / 1e9, 2)                          AS offer_size_billions
FROM ipos AS i
INNER JOIN
(
    SELECT
        ticker,
        min(toDate(date))                 AS first_session,
        argMin(toFloat64(open), date)     AS first_open,
        argMin(toFloat64(close), date)    AS first_close
    FROM global_markets.stocks_daily_aggs
    WHERE date >= today() - 400
    GROUP BY ticker
) AS d ON d.ticker = i.ticker
WHERE d.first_session BETWEEN i.listed_on - 1 AND i.listed_on + 5
ORDER BY i.offer_size DESC
LIMIT 12

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