Anthropic started its share roadshow at $70 to $78. The registration is not yet effective

Anthropic said on 10 November that it has launched the roadshow for a proposed initial public offering of Class A common stock. The proposed offering is 825,000,000 shares. Of those, 801,351,354 are being offered by Anthropic and 23,648,646 by existing stockholders. Anthropic said it will not receive proceeds from the stockholders’ shares. It expects to grant underwriters a 30-day option to buy up to 123,750,000 more shares. The expected price is between $70.00 and $78.00 a share. The company has applied to list on the Nasdaq Global Select Market under the symbol ANT. Goldman Sachs and Morgan Stanley are the firms named for prospectus requests.

The announcement says a registration statement has been filed with the US Securities and Exchange Commission and has not yet become effective. It says the shares may not be sold, and offers to buy may not be accepted, before that happens. The roadshow notice does not state revenue, cash, or a total amount to be raised. Multiplying the 801,351,354 shares Anthropic is offering by $70 and by $78 gives about $56.1 billion and about $62.5 billion. That product is not printed in the notice.

Separate from the roadshow notice, Reuters reported on 2 November that an amended filing showed third-quarter revenue of $16.96 billion, up 47 per cent from the previous quarter, a net loss of $23.29 billion, and about $895.4 billion of computing commitments. An earlier briefing to investors had put the quarter near $16.8 billion.