US IPO Pipeline SEC S-1 Filings — September 04, 2026

04-09-2026

Legion Capital Acquisition Corp. filed an S-1 registration statement with the SEC on September 4, 2026, for an initial public offering. The SPAC, which changed its name from Legion Acquisition Corp. on August 24, 2026, is incorporated in the Cayman Islands (E9) and headquartered in Greenwich, Connecticut. The filing details the proposed offering of units, the over-allotment option, and various redemption and dilution scenarios, but does not disclose the specific number of units or the offering price.

• · The company changed its name from Legion Acquisition Corp. to Legion Capital Acquisition Corp. on August 24, 2026.
• · The company is a Cayman Islands exempted company (E9) with a fiscal year end of December 31.
• · The SEC file number is 333-298754 and the film number is 261360032.
• · The filing includes detailed scenarios for redemptions at 100%, 75%, 50%, 25%, and 0% of maximum, with and without the full over-allotment option.
• · The filing references private units, deferred underwriting commissions, and offering costs excluded from tangible book value.
• · The company is a non-accelerated filer and a limited liability company.

04-09-2026

Churchill Capital Corp XI (CCXI) filed an S-4 registration statement on September 4, 2026, for its business combination with Agility Robotics, Inc. The transaction involves a domestication from the Cayman Islands to Delaware, followed by a merger where Agility will become a wholly-owned subsidiary of CCXI, which will be renamed Agility Robotics, Inc. CCXI shareholders will vote on nine proposals, including the merger, stock issuance, and director elections. No financial metrics or performance data are disclosed in this filing.

• · The Merger Agreement was dated June 24, 2026.
• · CCXI will change its name to 'Agility Robotics, Inc.' after the business combination.
• · The Post-Closing Company will have a staggered board with directors elected for terms ending after the 2027, 2028, and 2029 annual meetings.
• · CCXI has not conducted any business activities other than those directed toward a business combination since its incorporation.
• · Merger Sub was formed solely for the transaction and has no assets or liabilities.
• · CCXI has no outstanding SEC comments or ongoing SEC review as of the filing date.

04-09-2026

ADARx Pharmaceuticals, Inc. filed an S-1 registration statement with the SEC on September 4, 2026, for an initial public offering of common stock on the Nasdaq Global Market under the symbol 'ADRX'. The company plans to use net proceeds to advance its pipeline, including agazisiran (complement-mediated diseases), onvuzosiran (hereditary angioedema), ADX-626 (stroke prevention), ADX-077, and ADX-199. The company has no approved products and has incurred significant net losses, with net loss widening from $46.4M in FY2024 to $73.1M in FY2025, and further to $48.4M in the first half of 2026 alone.

• · The company has no approved products and has not completed any clinical programs.
• · Net loss per share (basic and diluted) worsened from $(4.22) in FY2024 to $(6.43) in FY2025, and from $(2.97) in H1 2025 to $(4.28) in H1 2026.
• · Weighted-average shares outstanding (basic and diluted) were 10,995,562 in FY2024, 11,362,970 in FY2025, 11,342,134 in H1 2025, and 11,320,722 in H1 2026.
• · The underwriters have a 30-day option to purchase additional shares.
• · The company qualifies as an emerging growth company and a smaller reporting company, with reduced disclosure obligations.
• · The company effected a stock split in 2026 (ratio not disclosed).
• · Pro forma net loss per share (unaudited) for FY2025 and H1 2026 is not provided in the excerpt.

04-09-2026

New Iceland Arctic Acquisition Corp., a Cayman Islands blank-check company, filed an S-1 registration statement with the SEC on September 4, 2026, for an initial public offering of 12,500,000 units at $10.00 per unit, targeting gross proceeds of $125,000,000 (or $143,750,000 if the over-allotment option is exercised in full). The company will list on Nasdaq under the symbols 'NIAA', 'NIAAW', and 'NIAAR' for its Class A ordinary shares, warrants, and rights, respectively. Proceeds will be held in a trust account until a business combination is completed within 15 months, but the offering carries significant risks, including immediate and substantial dilution to public shareholders due to the nominal price paid by the Sponsor for founder shares, and potential conflicts of interest that could lead to a transaction that declines in value.

• · The company is an 'emerging growth company' and a 'smaller reporting company', subject to reduced public company reporting requirements.
• · The completion window for an initial business combination is 15 months from the closing of the offering, subject to extension by shareholder vote.
• · The offering is on a firm commitment basis, with the underwriter expected to deliver units on or about a date to be specified.
• · The company will be listed on Nasdaq under the symbols 'NIAA', 'NIAAW', and 'NIAAR'.
• · The trust account will hold $125,000,000 (or $143,750,000 if over-allotment is exercised in full) from the offering and private placement proceeds.
• · The Sponsor and management may have conflicts of interest, potentially leading to a business combination that declines in value.
• · The company is incorporated in the Cayman Islands and is subject to the Companies Act (as revised) of the Cayman Islands.
• · The offering is not being made to the public in the Cayman Islands.

04-09-2026

Laser Photonics Corp filed an S-1 registration statement for an IPO of up to 7,142,857 shares of common stock and warrants at an assumed price of $1.40 per share. The company reported net sales of $8.3M in FY2025, up from $3.4M in FY2024, but net losses widened to $17.5M from $2.5M, and its auditor expressed substantial doubt about its ability to continue as a going concern. As of June 30, 2026, the company had only $2.2M in cash and a working capital deficit of $3.1M, burning approximately $0.8M per month.

• · The offering is a reasonable best efforts offering with no minimum number or dollar amount of securities required to be sold.
• · The company does not intend to pay dividends on common stock for the foreseeable future.
• · Common warrants have an exercise price equal to the public offering price; pre-funded warrants have an exercise price of $0.001 per share.
• · Series B-1 warrant expires on the fifth anniversary of its Initial Exercise Date; Series B-2 warrant expires 24 months after the Initial Exercise Date.
• · The company may need to obtain Warrant Stockholder Approval for the common warrants to be exercisable; if not obtained, the warrants will have no value.
• · The company has broad discretion over use of proceeds, which may include R&D, acquisitions, and working capital.
• · Purchasers under a securities purchase agreement will have additional contractual rights, including indemnification and restrictions on variable rate financings for one year.
• · The company's independent auditor expressed substantial doubt about going concern in its report dated April 20, 2026.