On September 2, 2025, five startups announced their intentions to pursue initial public offerings (IPOs) following a turbulent period influenced by U.S. government tariff plans. Swedish fintech company Klarna aims for a valuation of up to $14 billion in its U.S. IPO, offering approximately 34.3 million shares priced between $35 and $37. Blockchain lender Figure is also preparing for an IPO, seeking to capitalize on its $1.5 billion in raised funds. Meanwhile, crypto exchange Gemini plans to raise up to $316.7 million with a target market value over $2.2 billion. Legence, an engineering and maintenance services provider, is progressing towards its own U.S. IPO, while Black Rock Coffee Bar intends to sell 14.7 million shares priced between $16 and $18. Klarna, originally focused on buy now, pay later services, has received significant funding from prominent investors, including a $1.63 billion debt financing in August 2025, marking its growth and transformation in the fintech landscape.

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