Anthropic plans unusual IPO lockup that lets some insiders sell early

The Claude maker would allow limited share sales during its offering while potentially extending lockups on remaining stock into mid-2027 Anthropic wants to rewrite one of the oldest rules in the IPO playbook. The AI company behind the Claude models plans to let some early investors and employees sell shares before the standard 180-day lockup period ends. For a listing that could rank among the largest in history, that is a notable break from convention. The plan has two moving parts, and they pull in opposite directions. First, Anthropic plans to allow limited secondary sales by existing shareholders during the offering itself. A secondary sale means current holders sell their own stock to incoming investors, rather than the company issuing new shares to raise fresh capital.

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