Anthropic seeks up to $64.4 billion in IPO priced at $70 to $78 a share

Anthropic plans to offer 825 million Class A shares at $70 to $78 each, according to an amended SEC filing dated 10 November. The company will sell about 801.4 million shares, while existing stockholders will sell about 23.6 million shares.

At the top of the range, the offering would raise about $64.4 billion before fees, including the selling stockholders' shares. Anthropic also lined up a concurrent $26 billion private placement of Class N shares at the IPO price from AMD, Broadcom, Google, Micron, Microsoft, Nvidia and TSMC Partners. Members of Anthropic's board and related entities have indicated interest in buying up to $303 million of shares in the offering, which the filing says is not binding.

Anthropic estimates net proceeds of about $84.6 billion from its own IPO shares and the private placement, based on the $74 midpoint. That could reach about $93.7 billion if underwriters fully exercise an option to buy another 123.75 million shares.

The terms come a day after a mix-up. Reuters reported that an Anthropic representative sent banks a filing showing about 867 million shares at $70 to $80, raising $69.3 billion at the top, then followed up saying the pricing details were inaccurate. The details were retracted late on 9 November. Reuters said the roadshow was expected to launch on Tuesday, with pricing the following week. The Wall Street Journal reported that trading could begin on Thursday or Friday of next week, according to TechCrunch.

The company applied to list on the Nasdaq Global Select Market under the symbol ANT. Its Long-Term Benefit Trust elects the Class T directors, who will make up a majority of the board, and a single Class F share held by the co-founders' Founder LLC carries 50.1% of the general voting power.