Anthropic launched its IPO roadshow today, setting an expected price range of $70 to $78 per share for a proposed offering totaling 825 million shares. The company is seeking to list its Class A common stock on the Nasdaq Global Select Market, where it has requested the trading symbol ANT.
Anthropic plans to offer 801,351,354 shares itself, while existing stockholders would sell another 23,648,646 shares as part of the proposed transaction. Anthropic, according to the announcement, will not receive proceeds from that portion of the offering.
Read more: Leverage Shares Files for Three Anthropic ETFs Ahead of IPO
The company also expects to give its underwriters an option lasting 30 days to buy as many as 123,750,000 additional shares of Class A common stock. That potential purchase is separate from the 825 million shares in the proposed offering, and the option has yet to be granted.
The roadshow follows Anthropic’s October 26 filing of an S-1 with the SEC for its proposed initial public offering. The registration statement for the shares remains pending effectiveness, so the roadshow’s launch does not yet allow sales to proceed or offers to buy to be accepted.
Anthropic intends to conduct the proposed offering through a prospectus, with the preliminary version obtainable from Goldman Sachs & Co. LLC or Morgan Stanley & Co. LLC.
The public offering effort follows the June release of Claude Fable 5, a paid model built using the same Mythos-class architecture as Claude Mythos. Fable 5 directed questions in higher-risk subjects, including cybersecurity, biology and chemistry, to Claude Opus 4.8, while Anthropic said more than 95% of Fable sessions required no fallback. Pricing for Fable 5 was $10 for each million input tokens and $50 for each million output tokens, twice the corresponding cost of Opus 4.8.
