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Anthropic has launched the roadshow for its proposed initial public offering, setting an expected price range of $70 to $78 per share for an offering of 825 million Class A shares. The Claude developer has applied to list on the Nasdaq Global Select Market under the symbol ANT.
The roadshow begins the investor-marketing stage of the proposed offering, giving prospective buyers terms to weigh before the shares begin trading.
Anthropic plans to sell 801,351,354 shares, while certain existing stockholders will offer another 23,648,646. The company will receive proceeds from its own share sales, but none from the shares sold by those stockholders.
Anthropic also expects to grant the underwriters a 30-day option to purchase up to 123,750,000 additional Class A shares. That option would expand the offering beyond the initial 825 million shares if exercised.
The roadshow follows Anthropic’s initial Nasdaq IPO filing and a subsequent amended registration statement. The new terms establish the proposed size and pricing range for an offering that previously left both figures unset.
The registration statement has been filed with the U.S. Securities and Exchange Commission but is not yet effective. Until it takes effect, the shares cannot be sold, and offers to buy cannot be accepted.
The offering will be made only through a prospectus. Copies of the preliminary prospectus are available from Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC.
