2026 opens with some interesting opportunities for those closely following the US IPO market. This week, we'll see three new companies debut on the New York stock exchange: two SPACs targeting technology and entertainment, and a biotech that could be one of the most interesting stories in the field of oncology radiopharmaceuticals.

Before delving into the details of each listing, here's a general overview of the three IPOs scheduled for January 6th to 9th. As always, the data shown is the official data released by the companies at the time of pricing.

Art Technology Acquisition Corp. (NASDAQ: ARTC)

Let's start with the first of two SPACs on the schedule. Art Technology Acquisition Corp. will debut on the NASDAQ Global Market on January 6, 2026, with a $220 million offering. This blank-check company is led by Daniel G. Cohen, a name familiar to those who follow the SPAC world. Cohen is the Executive Chairman of Cohen & Company and the son of Betsy Cohen, one of the most well-known figures in the American SPAC sponsoring landscape. He is joined by Katherine E. Fleming, current CEO and President of the J. Paul Getty Trust, as Vice Chairman.

What makes this SPAC interesting is its declared focus: technology, art, financial services, and investment banking. This is a rather unique positioning among blank-check companies, which traditionally focus on more conventional sectors. Management highlights in the prospectus the opportunities arising from the fusion of design and technology, the growth of the art finance market, and the impact of technologies such as blockchain, artificial intelligence, and virtual reality on the art world.

The offering is structured into units consisting of one Class A share and one-quarter of a redeemable warrant. Once the securities begin trading separately, the shares will trade under the ticker symbol ARTC and the warrants will trade under the ticker symbol ARTCW. The underwriters have an option to purchase up to 3.3 million additional units within 45 days. Clear Street is acting as sole bookrunner for the transaction.

Black Spade Acquisition III Co (NYSE:BIII)

The second SPAC of the week bears a name that should be familiar to those following Asian markets. Black Spade Acquisition III is sponsored by an affiliate of Black Spade Capital Limited, the family office and private investment vehicle of Lawrence Ho, Chairman and CEO of Melco Resorts & Entertainment. This SPAC has a strong history in the international entertainment and gaming sector.

The management team is led by Dennis Tam as Executive Chairman and Co-CEO, supported by Kester Ng (Co-CEO and CFO) and Richard Taylor (Co-CEO and COO). All three previously worked together on the group's previous SPACs: Black Spade Acquisition, which merged with Vietnamese electric vehicle manufacturer VinFast in 2023 in what was one of the largest de-SPAC transactions in history, and Black Spade Acquisition II, which completed its business combination with The Generation Essentials Group in 2025.

The offering structure is slightly different from ARTC: each unit includes one Class A share and one-third redeemable warrants. The underwriters, Cohen & Company Capital Markets and Chardan, have a 45-day option to purchase up to 2.25 million additional units. The transaction is expected to close on January 7, 2026.

When evaluating a SPAC, it's always important to consider the management's track record. In this case, the post-merger performance of previous deals has been mixed, which is in line with the general trend of the SPAC sector in recent years. Interested investors should therefore primarily evaluate the quality of the target they eventually identify, rather than past performance.

Aktis Oncology, Inc. (NASDAQ:AKTS)

And we come to what I personally consider the most interesting story of the week. Aktis Oncology is a Boston-based clinical-stage biotech developing alpha-emitting radiopharmaceuticals for the treatment of solid tumors. If the term sounds new to you, know that radiopharmaceuticals represent one of the most promising frontiers in modern oncology, and major players like Novartis, Eli Lilly, Bristol Myers Squibb, and AstraZeneca are investing heavily in this field.

Founded in 2020 and incubated by MPM Capital, Aktis has developed a proprietary platform based on radioconjugated miniproteins. Simply put, these are molecules designed to precisely target tumor cells and locally deliver alpha radiation, which has limited penetrating power but is highly effective at destroying target cells while minimizing damage to surrounding healthy tissue.

The pipeline includes two lead programs. The most advanced candidate is AKY-1189, which targets Nectin-4, an antigen expressed in several solid tumors, including urothelial carcinoma, triple-negative breast cancer, non-small cell lung cancer, and others. This drug is currently in a Phase 1b study in the United States, with approximately 150 patients enrolled and preliminary results expected in the first quarter of 2027. The second candidate, AKY-2519, targets B7-H3, an antigen expressed in prostate, lung, and breast cancers, with an IND submission planned for 2026.

The company plans to use a large portion of the IPO proceeds to fund clinical development: approximately $140-$150 million will go to the Phase 1b study of AKY-1189, while $70-$80 million will go to the AKY-2519 program. Aktis is also investing in an in-house cGMP facility, which is expected to become operational in 2026, as well as managing domestic and international isotope supply partnerships.

The bookrunners for the transaction include JP Morgan, BofA Securities, Leerink Partners, and TD Cowen, a top-tier team reflecting the institutional interest in this IPO. Prior to listing, Aktis had already raised approximately $346 million from life sciences investors. Major shareholders include MPM with a 26% stake, Vida Ventures with a 14% stake, EcoR1 Capital with an 11% stake, and Blue Owl Capital with a 7% stake.

Conclusions

This first week of 2026 listings offers different opportunities for different types of investors. The two SPACs, Art Technology Acquisition and Black Spade Acquisition III, appeal to those seeking exposure to vehicles with experienced management and capital ready for acquisitions in specific sectors. The standard price of $10 per unit and the structure with embedded warrants offer some downside protection, but the return will depend entirely on the quality of the target identified.

Aktis Oncology, on the other hand, represents a more direct bet on an emerging technology in the oncology sector. Radiopharmaceuticals have already demonstrated significant clinical results with Novartis' approved products, and the interest of big pharma like Eli Lilly validates the potential of Aktis' platform. The risk is obviously typical of clinical-stage biotechs: the results of the studies will determine the company's future. However, the strength of the syndicate, the quality of the investors, and the partnerships already signed suggest that this could be one of the most interesting biotech IPOs of the coming year.

As always, every investment decision should be carefully considered based on your risk profile and time horizon. IPOs, by their very nature, present a higher level of uncertainty than stocks already listed with a track record of performance. That said, following the evolution of these three stories could prove particularly interesting in the coming months.