# Anthropic Prospectus Puts Up to 316 Million Shares in Day-One Resale Pool By John Kim Canonical URL: https://www.tokenpost.com/news/business/54679 Published: 2026-11-12T00:14:52.000Z Updated: 2026-11-12T00:14:52.000Z Section: Business > The figure equals 10% of locked shares held by specified directors, officers, employees and consultants, or about 38% of the 825 million shares proposed in the IPO. Anthropic’s second revised IPO prospectus dated Nov. 10 outlines up to 316 million shares eligible for resale on the first trading day, a potential supply equal to 38% of the company’s proposed offering. The figure represents 10% of locked shares held by non-founder directors, officers, current and former employees, and consultants. The proposed offering includes about 801 million new shares and 23.7 million shares from existing holders, with a price range of $70 to $78 per share. The prospectus follows an [earlier Anthropic IPO filing](). As many as 3.3 billion additional shares could become eligible before applicable lockups expire, bringing the potential total to about 3.6 billion. For ordinary holders, the lockup ends on the earlier of the second full trading day after Anthropic releases its first-quarter 2027 results or day 180 after listing. For co-founders and holders of more than 0.5% of the company, the limit is the earlier of the second full trading day after its third-quarter 2027 results or day 365 after listing. Goldman Sachs and Morgan Stanley can waive restrictions early. Anthropic also plans a private placement of about $26 billion in Class N shares to seven technology companies: Google, Nvidia, AMD, Broadcom, Micron, Microsoft and a TSMC investment subsidiary. These shares are outside the lockup agreements but remain restricted securities, available for resale only after registration or under a legal exemption. Sales of those shares, or expectations of sales, could pressure Anthropic’s Class A shares. At the $74 midpoint, the IPO and private placement would leave Anthropic with an estimated net tangible book value of $8.21 per share. The $65.79 difference between net tangible book value per share and the offering price represents immediate dilution per share for new investors. It is an accounting comparison and does not mean shares are expected to trade at $8.21. ## Links in this article - [earlier Anthropic IPO filing](https://www.tokenpost.com/news/business/41273)