Key Takeaways

• Aspen and Bambusa have joined the weekly calendar, each seeking roughly $150 million at the midpoint of proposed terms; their treatments still need clinical proof.
• OPay remains the largest proposed operating-company offering at $320 million midpoint gross, but calendar services disagree on its debut date.
• SPACCircle reportedly priced at $10 per unit for $100 million; Tuesday October 27 trading remains an expected event.
• Friday October 30 is tentative for both biotech debuts. BW Industrial appears only on Webull among calendars checked; no completed listing was verified.

IPO Week Preview

October 26, 2026 | Week October 26–30, 2026

With staff and AI research assistance By Frank Whitaker and Stan Rosenberg

Research cutoff: 2026-10-26T22:08:16-06:00

Frank follows the changing calendar

Two biotechnology offerings have sharpened the week’s choices. San Diego’s Aspen Neuroscience, founded in 2018, is developing sasineprocel from patients’ own cells for Parkinson’s disease. The aim is to replace lost dopamine-producing neurons; that remains an investigational approach, not an approved treatment. Its proposed roughly 9.38 million shares at $15–$17 would raise about $150 million at the midpoint. [5][6][8]

Boston’s Bambusa, led by CEO Shanshan Xu, is developing antibodies designed to act on two biological targets. Its BBT001 programme addresses inflammatory skin disease. The October 26 filing proposes 9.375 million new shares at $15–$17. Management estimates $134.9 million net at the midpoint and intends to combine proceeds with existing funds to advance BBT001 and BBT002. [7]

Stan looks beyond matching price tags

These are research businesses, not established product sellers: neither has product revenue, according to the profiles checked. IPOScoop reports trailing twelve-month losses through June 30 of $66.84 million for Aspen and $48.7 million for Bambusa. Those losses are not cash-burn figures. Similar offering sizes do not make the companies equally valuable; clinical evidence, manufacturing demands and future financing needs can differ substantially. [6][9]

The larger operating-company deal is Singapore-based OPay, serving consumers and merchants with payments and other financial services, principally in Nigeria. Its preliminary filing proposes 16 million depositary shares at $19–$21; each represents ten ordinary shares. Base gross proceeds would therefore be $304–$336 million before costs. The additional-share option and concurrent private placement must be considered separately. [3][10]

IPOScoop reports $805.83 million revenue and $49.85 million net income for the twelve months through June 30. This gives readers an operating earnings record to examine, unlike the two biotechnology companies. It does not remove foreign-exchange, regulatory or competitive risks. OPay plans to invest in technology, distribution and expansion. [3][11]

Frank keeps the dates in pencil

IPOScoop reports SPACCircle priced on October 26 at ten million $10 units and expects trading October 27. It is seeking an acquisition in digital assets, technology or healthcare. A unit includes a share, warrant and right to half a share upon a business combination: potential additional share supply deserves attention. Webull still shows a conflicting deal amount. [2][4]

IPOScoop places OPay, Aspen and Bambusa on Friday October 30; Webull gives OPay October 26. These are conflicting expectations, not evidence of completed trading. BW Industrial’s October 27 entry remains unconfirmed outside Webull in the calendars checked. [1][2][5]

Bambusa targets Phase 2b skin-disease study start-up by year-end 2026; Aspen anticipates Phase 3 dosing in the second half of 2027. These are management windows, not specific appointments. The company news, investor materials and filings checked by the research cutoff did not establish an additional future meeting, call or regulatory decision with a specific verified date and time. That does not imply an absence of company news. [6][7][8][10][12]

Analysis only; proposed terms and past results do not predict investment returns.

Sources

[1] IPOScoop calendar: expected dates and status. https://www.iposcoop.com/ipo-calendar/ [2] Webull calendar: conflicting dates and BW entry. https://www.webull.com.sg/quote/us/ipo [3] OPay SEC amendment: terms, structure, risks, proceeds. https://www.sec.gov/Archives/edgar/data/2103076/000119312526430437/d56487df1a.htm [4] IPOScoop SPACCircle: reported pricing and units. https://www.iposcoop.com/ipo/spaccircle-acquisition/ [5] Renaissance calendar: weekly cross-check. https://www.renaissancecapital.com/IPO-Center/Calendar [6] IPOScoop Aspen: terms, losses, development window. https://www.iposcoop.com/ipo/aspen-neuroscience/ [7] Bambusa SEC amendment: terms, leadership, spending and milestones. https://www.sec.gov/Archives/edgar/data/2044950/000162828026067119/bambusa-sx1a1.htm [8] Aspen investor overview: scientific approach and history. https://aspenneuroscience.com/investor-relations/overview/ [9] IPOScoop Bambusa: financial cross-check. https://www.iposcoop.com/ipo/bambusa-therapeutics/ [10] OPay company/news pages: services and event check. https://www.opay.ltd/news [11] IPOScoop OPay: financial cross-check. https://www.iposcoop.com/ipo/opay/ [12] Aspen releases and Bambusa website: announcement/event check. https://aspenneuroscience.com/investor-relations/news-and-events/news-releases/ https://bambusatx.com/