Gunpowder Alerts has analyzed 1,575 S-1 filings since March 2026 — 47% scored neutral, 9% positive, and the median materiality score is 9 out of 10.
The S-1 is the registration statement that takes a private company public — the first complete look at an IPO candidate’s financials, risk factors, and cap table. S-1s are amended repeatedly (S-1/A) as the SEC comments and deal terms firm up, so amendment volume here tracks the back-and-forth of live IPO pipelines.
The figures below cover S-1 and S-1/A filings in Gunpowder’s analyzed corpus, scored for sentiment and materiality on analysis. Together with the IPO & capital markets stream, they sketch how active the new-issue pipeline actually is.
New to this form? Read What is an S-1? — or see how Gunpowder scores filings.
1,575
S-1 filings analyzed
9/10
median materiality
83%
high materiality (8+)
9%
scored positive
Monthly filing volume
S-1 filings analyzed by Gunpowder per calendar month, by filing date.
| Month | Filings | Relative volume |
|---|---|---|
| Mar 2026 | 277 | |
| Apr 2026 | 370 | |
| May 2026 | 311 | |
| Jun 2026 | 276 | |
| Jul 2026 | 109 | |
| Aug 2026 | 91 | |
| Sep 2026 | 111 | |
| Oct 2026 | 30 | |
Sentiment distribution
Pipeline-assigned sentiment at analysis time across 1,571 scored filings.
| Positive | 139 (9%) | |
|---|---|---|
| Neutral | 737 (47%) | |
| Mixed | 556 (35%) | |
| Negative | 139 (9%) | |
Materiality score distribution
Scores run 0 (routine) to 10 (highly material); 1,575 filings scored. Median 9, 83% at 8 or above. Definitions in the methodology.
| 0 | 0 | |
|---|---|---|
| 1 | 7 | |
| 2 | 5 | |
| 3 | 10 | |
| 4 | 7 | |
| 5 | 41 | |
| 6 | 44 | |
| 7 | 148 | |
| 8 | 515 | |
| 9 | 584 | |
| 10 | 214 | |
Most frequent filers
Companies with the most S-1 filings in the analyzed corpus.
| Company | Ticker | Filings |
|---|---|---|
| Next Bridge Hydrocarbons, Inc. | — | 18 |
| Futurewave Acquisition Corp | — | 14 |
| ARTELO BIOSCIENCES, INC. | ARTL | 13 |
| Parabilis Medicines, Inc. | — | 13 |
| APEIRON ACQUISITION VEHICLE I | APN | 11 |
| East West Ave Acquisition Corp. | — | 11 |
| Fervo Energy Co | — | 11 |
| FortuneX Acquisition Corp | — | 11 |
| Lakewood-Amedex Biotherapeutics Inc. | LABT | 11 |
| Alamar Biosciences, Inc. | — | 10 |
What this page counts
EDGAR form types rolled into these statistics.
| S-1 | 876 |
|---|---|
| S-1/A | 699 |
Recent S-1 coverage
Every IPO starts as an S-1 weeks before the roadshow headlines. Gunpowder’s capital-markets stream analyzes registrations and amendments as they file, so you see the pipeline forming early.
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