Swarmer's IPO
Listed Mar 16, 2026 at $5 on Nasdaq as SWMR.
Today 81% above its $5 offer price; its first day closed +520.0%.
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What does Swarmer do?
| Fact | Swarmer |
|---|---|
| Incorporated | Delaware, 2023 |
| Headquarters | Austin, Texas |
| Employees | 62 full-time, as of February 10, 2026 |
| Website | getswarmer.com |
What is the offering?
Each figure names the filing it is from and that filing's date. The market cap is Breakaway's arithmetic from the prospectus's share count.
| Fact | Swarmer |
|---|---|
| Shares offered | 3,000,000 |
| Offer price | $5 a share |
| Raised at that price | $15 million |
| Underwriters' discount | $900,000 |
| Underwriter | Lucid Capital Markets |
| Exchange | Nasdaq Capital Market, as SWMR |
What the filing says about its money
| Fact | Swarmer |
|---|---|
| Revenue | $310 million, year to December 31, 2025 |
| Net loss | $8.53 billion, year to December 31, 2025 |
| Last preferred stock | Series A preferred |
What risks does Swarmer name first?
- “We have incurred significant losses since inception and cannot assure you that we will ever achieve or sustain profitability.”
- “We have significant dependence on a small number of customers, and the loss of such customers or a decrease in business conducted with such customers could materially harm our business, financial condition or results of operations.”
- “Failure to establish and maintain effective internal control over financial reporting could have a material adverse effect on our business, operating results and stock value.”
Every date of Swarmer's IPO
| What | Day |
|---|---|
| Registration filed | Feb 2, 2026 |
| Exchange registration filed | Mar 13, 2026 |
| Priced | Mar 16, 2026 |
| First trade | Mar 16, 2026 |
| Declared effective by the SEC | Sep 18, 2026 |
| Lock-up ends | Sep 12, 2026 |
How did its first days trade?
From its daily bars, each close against its $5 offer price.
| Day | Open | Close | From the offer |
|---|---|---|---|
| Mar 17 | $12.50 | $31 | +520.0% |
| Mar 18 | $40 | $55 | +1000.0% |
| Mar 19 | $52.57 | $52.55 | +951.0% |
| Mar 20 | $49.92 | $36.71 | +634.2% |
| Mar 23 | $34.70 | $26.36 | +427.2% |
What is Swarmer's Quality Score?
The other IPOs expected
| Company | Price |
|---|---|
| $19 to $21 | |
| $15 to $17 | |
| $15 to $17 | |
| $7 | |
| $5 to $7 |
Swarmer IPO questions
When is Swarmer's IPO?
Listed Mar 16, 2026 at $5 on Nasdaq as SWMR.
What is Swarmer's IPO price?
Swarmer's IPO priced at $5 a share, per its final prospectus of Mar 17, 2026.
How many shares is Swarmer selling?
3,000,000 shares, per its final prospectus (424B4).
Who are the underwriters?
Lucid Capital Markets, as the prospectus's cover names them.
When does the lock-up end?
Swarmer's IPO lock-up ends Sep 12, 2026. Its final prospectus says: “.”
Does Breakaway rate Swarmer?
Swarmer has a Quality Score of -4 today. The score counts the 14 chart checks and the company's filings; a check that needs more history than a new stock has waits for it.
Can Breakaway say where Swarmer's price will go?
No. Breakaway does not say where a price will go. Every figure here is from the company's SEC filings, linked on each line.
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