Anthropic began the roadshow for its proposed initial public offering on November 10. Its announcement put the expected offer price at $70 to $78 per share and disclosed an application to list on the Nasdaq Global Select Market as ANT. The announcement says the registration statement had been filed but was not yet effective.
How many shares are in the proposed offering?
The base proposal covers 825 million Class A shares. Anthropic would offer 801,351,354 shares itself. Existing stockholders would offer the remaining 23,648,646 shares. The company says it would not receive proceeds from the shares those stockholders sell. The two figures matter because the total number offered includes both newly offered company shares and sales by existing holders.
Anthropic also expects to give the underwriters a 30-day option to buy up to 123,750,000 additional shares. The option is separate from the 825 million in the base proposal. The announcement does not say that the option has been exercised.
What does the roadshow establish?
The notice identifies the proposed terms and says the offering would be made only by prospectus. It points readers to the preliminary prospectus through Goldman Sachs and Morgan Stanley. The $70 to $78 figure is the expected offer range in that notice. A final price is not stated.
What should readers watch for next?
Anthropic says no shares can be sold and no offers to buy can be accepted before the registration statement takes effect. The Nasdaq symbol is part of the listing application, so the notice does not establish when trading will begin. Readers tracking the process can compare any final prospectus with the proposed price, the share split and the option disclosed at the start of the roadshow.
