Feb 20 - A number of companies that had planned U.S. initial public offerings in 2026 have scaled back, delayed or canceled their listings as market turbulence and close investor attention on valuations have put pressure on new issue activity.
Goldman Sachs analysts said earlier this month they expect the number of IPOs to double to 120 this year, but added that a selloff in software stocks has underscored valuation risks. Despite that forecast, several issuers have reacted to short-term market swings by adjusting their plans.
In recent weeks, issuers including Wall Street broker Clear Street, Brazilian fintech Agibank and Blackstone-backed Liftoff Mobile have trimmed deal sizes, withdrawn or pushed back planned listings. Those companies said they will wait for market volatility to cool amid heightened investor scrutiny of aggressive pricing and lofty valuations.
CLEAR STREET
Clear Street pulled its U.S. IPO a week after delaying the offering, becoming one of the early 2026 listings to be scrapped amid market instability. The company had earlier postponed the deal just hours after cutting its fundraising target by about 65% and cited "current market conditions" in explaining its decision to abandon the offering.
AGIBANK
Brazilian fintech Agibank followed a different route, completing a downsized U.S. IPO that raised $240 million after sharply reducing both the proposed deal size and the price range. The Sao Paulo-based company sold 20 million shares at $12 apiece; it had previously proposed roughly 43.6 million shares priced between $15 and $18 each.
The stock, which debuted on Wednesday, had fallen nearly 15% from the offer price as of Thursday's close.
LIFTOFF MOBILE
Blackstone-backed Liftoff Mobile, a mobile app marketing provider, confirmed earlier this week that it has confidentially filed for an initial public offering. That filing follows a prior decision to withdraw its U.S. listing plans.
Collectively, these moves illustrate how companies are responding to an uneven market backdrop by pausing or scaling back deals rather than proceeding at prices they consider aggressive. Issuers and underwriters appear to be calibrating launches to investor demand and wider sentiment, particularly in sectors where recent price action has raised questions about valuation.