Anthropic has lodged an Australian prospectus and launched a roadshow for its proposed Nasdaq listing. The company makes the AI chatbot Claude. The initial public offering is expected to price between US$70 and US$78 per share, with a reported listing value of US$1.4 trillion.
Australian offer terms
The Australian offer opens on November 11 and closes on November 17. Shares are due to list on the Nasdaq on November 20. Eight Australian firms will sell stock to retail investors, including CommSec, Bell Potter, and Macquarie.
Shares on offer
The proposed offering covers 825,000,000 Class A common shares. Anthropic is selling 801,351,354 shares, and existing stockholders are selling 23,648,646 shares. The seven co-founders, including chief executive Dario Amodei, are each offering 3.38 million shares.
Investor warnings
The Australian filing warns that investor protections differ from ASX-listed companies. It also says enforcing civil liabilities against Anthropic is restricted and difficult for Australian investors. Tax treatment of US-listed shares is also different.
A bookbuild will determine the final price. The IPO is expected to price on November 18 and begin trading the following day. Anthropic has applied to list on the Nasdaq Global Select Market under the symbol ANT.