Four big deals slid into the IPO pipeline on Friday, Aug. 22, 2025 – in a sign that the IPO market may be in store for a hot September after the Labor Day holiday break. (Editor’s Note: This column, initially published early Sunday, Aug. 24, 2025, was updated on Monday afternoon, Aug. 25, 2025.)
These companies got their IPO plans started with their S-1 filings, which did not include terms:
WaterBridge Infrastructure (WBI Proposed) – This Houston-based water handling company – whose clientele includes Chevron, Devon Energy and other big names in the oil and gas industry – plans to list its stock on both the NYSE and the new NYSE Texas exchange, according to the prospectus. It’s backed by Five Point, a private equity house. The proceeds will go to pay off debt.
J.P. Morgan and Barclays are the lead joint underwriters.
The WaterBridge IPO follows the LandBridge IPO by more than a year. LandBridge’s stock has more than tripled its $17.00 IPO price – as Reuters pointed out in its story on the WaterBridge filing. Five Point is also an investor in LandBridge.
Pattern Group (PTRN Proposed)– This Lehi, Utah-based company is an online reseller that partners with prestigious consumer brands – such as Bosch and Tumi – to sell their products on platforms that include Amazon and Walmart. Bloomberg has reported that Pattern’s IPO could raise as much as $400 million, according to a person familiar with the company’s plans. Pattern Group intends to list its stock on the NASDAQ, the prospectus said.
Goldman Sachs and J.P. Morgan are leading the joint book-runners, with Evercore ISI and Jefferies acting as joint book-runners. Another six names are in the investment bank line-up on the cover of the prospectus.
Netskope Inc. (NTSK Proposed)– This Santa Clara, California-based company says that it’s redefining security and networking for the era of the cloud and AI. Netskope is not profitable, according to the prospectus. Its principal shareholders include Accel, Lightspeed Ventures and Iconiq, according to the prospectus. Netskope plans to list its stock on the NASDAQ, the prospectus said.
Morgan Stanley and J.P. Morgan are leading the joint book-running team, which includes another 13 investment banks whose names are on the cover of the prospectus.
LB Pharmaceuticals(LBRX Proposed) – This New York, N.Y.-based clinical-stage biopharmaceutical company is developing novel therapies to treat schizophrenia, bipolar depression, and other neuropsychiatric diseases. The company is building a pipeline that leverages the broad therapeutic potential of its lead product candidate, LB-102, which it believes has the potential to be the first benzamide antipsychotic drug approved for neuropsychiatric disorders in the United States. This is a NASDAQ listing.
Leerink Partners, Piper Sandler and Stifel are the joint book-runners.
These new IPO filings add to the IPO Pipeline’s big names – Klarna and StubHub – along with filings in August by Figure, Gemini, Legence and Via – to set the stage for what could be a vibrant IPO market this fall.
Stay tuned.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.
