Anthropic sets $70-$78 IPO price range in amended filing

Anthropic estimated an initial public offering price of $70 to $78 per Class A share in a November 10 amendment to its registration statement, setting the first official range in the company’s IPO process after its public S-1 filing. The company has applied to list the shares on the Nasdaq Global Select Market under the symbol ANT.

The preliminary prospectus covers 825 million Class A shares. Anthropic plans to offer 801,351,354, while selling stockholders would offer the remaining 23,648,646. The company said it would not receive proceeds from shares sold by those stockholders.

At the $74 midpoint of the range, Anthropic estimates about $84.6 billion in net proceeds from its Class A offering and a concurrent $26 billion Class N private placement, after estimated underwriting discounts, commissions and offering expenses. The estimate excludes proceeds from the selling stockholders’ shares.

The range is a proposed term, not a completed transaction, a final IPO price or a final company valuation.

The prospectus is subject to completion and may change. The securities cannot be sold until the registration statement becomes effective, and the filing does not establish an effective date, a first trading date or that the offering will be completed.