US IPO Pipeline SEC S-1 Filings — March 13, 2026

Positive sentiment on $9.35M-$14.55M IPO proceeds from 1.265M-1.455M shares at $10/share in mutual conversion, minimum 935k shares required, charitable foundation contribution signals community focus

Neutral but material $33M offering (3.3M shares at $10/share) for 401(k) plan tied to MHC conversion, depositor purchase priorities enhance subscription likelihood vs. open market

Mixed sentiment but $60M gross proceeds from 6M shares at $10/share plus $3M sponsor private placement commitment, non-binding $30M AI Biotech interest post-combination

Neutral SPAC S-1 with prior drafts (Jan/Mar/Oct 2025) indicates advancing IPO readiness, CIK 2052096 blank check targeting acquisitions

Neutral filing for CRO token ETF with staking model targeting [●]% utilization, quarterly cash distributions from rewards, Figment as provider adds operational credibility

Incorporated Feb 2026 post-1889 bank charter, 2014 acquisition history shows operational continuity, outperforms Dravica's inception losses

Continuous Rule 415 offering post-SEC approval, RBKB already Nasdaq-listed provides liquidity precedent vs. pure IPOs

No warrants reduces complexity vs. typical SPACs, founder shares transferred to key execs/directors signals aligned incentives

Name change from Jura Pentium (Mar 2025) and staking rewards sharing model differentiates from plain crypto trusts

Multiple prior DRS filings demonstrate regulatory progress, 8/10 materiality flags timely SPAC opportunity

Plan assets Dec 31, 2025 basis for sizing ensures realistic $33M raise vs. speculative microcaps

Net proceeds $7.75M-$12.95M after expenses outperforms Dravica's $120k target by 100x scale

Auditors flag substantial doubt, $12,384 net loss from Sep 2025 inception through Oct 31, 2025, no revenues, requires $30k minimum from $120k offering

1.725M founder shares acquired for $25k (par $0.0001) pose immediate material dilution to public holders vs. $60M IPO

Self-underwritten 4M shares at $0.03 ($120k max) vs. peers at $10/share ($14M+), 100% president ownership raises governance concerns

Redemption rights capped at 20% aggregate without consent, tighter than typical SPACs increases de-SPAC execution risk

Fiscal Oct 31 end, $8k prior private from president only, 270-day offering duration signals prolonged uncertainty

Blank check with no performance data or comparisons, prior drafts but unproven track record

Purchase priorities favor depositors (>= $100 Dec 31, 2024) and 401(k), potential undersubscription if priorities unmet

Staking up to [●]% CRO holdings with quarterly distributions uncertain/possibly zero if rewards insufficient

Founder transfers (e.g., 150k to Dr. Sidhu) amid no warrants may deter traditional SPAC investors

Subscription expires June 2026 but extendable 90 days or to June 2028, delays conversion completion

Subscription offering June 2026 expiry with min 935k shares, positive sentiment and $12.95M net proceeds potential for bank growth

$60M + $3M sponsor for 24-month business combination window, $30M AI Biotech interest flags biotech target alpha

$33M at $10/share post-conversion, Nasdaq RBKB precedent offers immediate trading vs. pure IPO lockups

Quarterly CRO staking rewards distributions, utilization [●]% targets yield play in crypto ecosystem vs. spot ETFs

Recent S-1 after 2025 drafts, blank check for acquisitions in maturing SPAC cycle

$14.55M proceeds dwarfs Dravica's $120k, charitable 27.5k shares/$100k foundation enhances goodwill

Simplified structure vs. peers reduces warrant dilution overhang, Cayman entity for flexibility

Category 1 depositors first boosts subscription success rate vs. competitive retail IPOs

Integrated staking with Figment, sponsor/custodian rewards model vs. non-yielding trusts

Digital comm tools at $0.03/share, $30k min funds 12 months if subscribed, early-stage entry

2/6 filings (Voyager, JATT) at $10/share with 24-month windows, JATT's no-warrants and sponsor buys signal evolved terms reducing complexity [IMPLICATION: Lower dilution appeals to conservative investors]

2/6 (Rhinebeck $33M, CSB $14.5M max) prioritize depositors/401(k), positive/neutral sentiment, $10/share norm [IMPLICATION: High subscription success, liquidity events for regional banks]

Dravica $0.03/share ($120k) vs. peers $10/share (50x gap), crypto ETF adds staking yield [IMPLICATION: Volatility alpha in outliers, scale favors banks/SPACs]

All March 13, 2026 S-1s with CSB/Rhinebeck June 2026 expiries, JATT 24-months post-IPO [IMPLICATION: Near-term catalysts in conversions, longer SPAC M&A plays]

JATT founder 1.725M shares/$25k (high), Dravica 100% insider pre-IPO vs. diversified SPAC sponsors [IMPLICATION: Scrutinize pre-IPO ownership for post-listing pressure]

$60M (JATT) to $120k (Dravica), avg ~$18M, banks/SPACs dominate size [IMPLICATION: Capital access varies by structure, favor larger for stability]

Monitor June 2026 deadline +90-day extension or June 2028 completion for oversub/undersubscription signals

24 months from IPO close, watch sponsor $3M fulfillment and AI Biotech $30M interest conversion

Filing effective ASAP post-approval under Rule 415, track depositor uptake Dec 31, 2024 balances

270 days from effective date, min $30k raise for 12-month runway amid going concern

Quarterly cash from CRO rewards starting post-listing, monitor utilization [●]% and zero-distribution risk

Post multiple 2025 drafts, watch pricing effectiveness and target sector hints

20% cap enforcement in de-SPAC, insider transfers to Sidhu/Fernandez for conviction

Category 1-2 (depositors/401(k)) fill rate vs. subsequent, Nasdaq RBKB reaction