Some Anthropic investors plan to resell up to $500 million of IPO allocation shares, with fees of 3% to 5% of the offering price.

BlockBeats news, November 11 - According to Bloomberg, some Anthropic investors have already been pitching anticipated IPO allocations to new buyers ahead of pricing. Brokerage firm JonesTrading is representing investors expected to receive large allocations in offering a block of shares worth up to $500 million, with a 3% to 5% fee charged on top of the final IPO offering price.

People familiar with the matter said the shares are not subject to lock-up agreements, but buyers must obtain approval from both the seller and a bank participating in the IPO. Bloomberg noted that such arrangements allow investment institutions to reduce risk on some allocation positions while expanding their investor base. Jon Jefferies, head of private markets at JonesTrading, declined to comment on specific transactions but said he first saw such arrangements during SpaceX's listing, and that multiple similar Anthropic-related deals are currently being marketed.

Another seller is marketing over $1 billion worth of existing Anthropic shares through a special purpose vehicle (SPV), with pricing corresponding to a company valuation of $1.4 trillion to $1.6 trillion, plus an additional fee. People familiar with the matter said the SPV is a single-layer structure that directly holds Anthropic shares. Unlike the resale arrangements above, this transaction involves already-issued shares and does not depend on the seller receiving an IPO allocation.

Anthropic's IPO seeks a fully diluted valuation of approximately $1.4 trillion. The company and some investors plan to raise up to $90.4 billion in total through the IPO and private placements; if this scale is reached, it would exceed SpaceX's $75 billion base offering size. An Anthropic spokesperson did not immediately respond to a request for comment.