Great Work — Utah

Utah IPO Pipeline

guide confidence: Medium status: Draft updated 2026-08-16

Type
guide
Status
Draft
Confidence
Medium
Audience
operators, founders, investors, journalists
Focus
IPO, S-1, public markets, Utah companies, registration statements
Updated
2026-08-16

Overview

Entrata prices next. The Lehi property-management company is the only Utah issuer with a live S-1, it is profitable, and Silver Lake already took a dividend off the cap table. Two months without a price is a window problem, not a withdrawal. If the question is who files after that, the guess is Lucid Software, not Podium.

Bet: Entrata lists on the NYSE as ENT before any other Utah company in this corpus files a new IPO registration. Falsified by a Form RW, or by someone else pricing first.

The rest of this page is the filing record that bet sits on, plus the names people will mention that are not actually next.

What Counts As Pipeline

A guess still has to name its evidence. The checkable signal is a live Securities Act registration that has not gone effective and has not been withdrawn. Unicorn labels and 2021 pre-IPO headlines are not that signal. As of 2026-08-16, this EDGAR check found one live Utah-city IPO registration: Entrata.

A name is in the live pipeline only if EDGAR shows a Securities Act registration (typically Form S-1 or F-1) that has not gone effective (no Form EFFECT, no Form 424B4) and has not been withdrawn (no Form RW). A confidential draft (DRS) is invisible to a public search until the issuer files publicly; see Open Questions.

The 2026-08-16 check used two EDGAR surfaces:

  1. Each issuer's submissions JSON at data.sec.gov (the machine-readable filing list).
  2. Full-text search for Forms S-1, S-1/A, F-1, and 424B4 that mention Utah cities, dated 2025-01-01 through 2026-08-16.

Two hits were Utah-string false positives and are ignored here: FullPAC (Virginia Beach) and Black Rock Coffee Bar (Scottsdale). Scale, "unicorn" labels, and 2021 "pre-IPO round" headlines are not a live registration.

Live Registration As Of 2026-08-16

Entrata (Lehi) is the only name that met the test. Entrata, Inc., CIK 0002028464, filed an S-1 on 2026-05-28 and an S-1/A on 2026-06-11 (accession 0001628280-26-042574), applying for NYSE: ENT. Submissions JSON lists a DRS dated 2025-12-17. As of 2026-08-16 that JSON showed no EFFECT, no 424B4, and no RW. Entrata's June 11, 2026 S-1/A was therefore not effective as of 2026-08-16.

Revenue, headcount, and offering terms belong on Entrata and Source: Entrata S-1/A (June 2026), not here.

Recently Listed — Not "Soon"

These already priced, so they are not a forecast of the next IPO.

  • Fervo Energy is Houston-headquartered with a Beaver County project. It filed a Form 424B4 on 2026-05-14 and trades as Nasdaq: FRVO. The primary record is Source: Fervo Energy IPO Prospectus (Form 424B4, May 2026).
  • Pattern Group (Lehi) appears in EDGAR as Nasdaq: PTRN, CIK 0001811935. This wiki has no page yet; a wanted-queue link is not evidence of offering terms.
  • Angel Studios (Provo) appears in EDGAR as NYSE: ANGX, CIK 0001865200. No wiki page yet.
  • FatPipe (Salt Lake City) appears in EDGAR as Nasdaq: FATN, CIK 0001993400. No wiki page yet.

Attempted And Withdrawn

A Form RW ends the registration. It is not a shutdown.

The Guess Among Names That Have Not Filed

If Entrata is taken off the board — withdrawn, or already public — the next Utah IPO is not the company the local press has been naming since 2021.

Podium is the crowd favorite: Lehi, unicorn headlines, the company this wiki's own Open Questions already ask about an IPO path. That is why it is a bad pick. A name that has been "the next Utah IPO" for years and is still private has demonstrated it can stay private. Qualtrics is private again after the 2023 Silver Lake take-private — a sponsor that just took Entrata to an S-1 is not automatically walking Qualtrics back to Nasdaq on the same clock. Instructure is the PE re-IPO shape, but the page's 2024 KKR take-private is early to flip. Ancestry is a Blackstone exit when Blackstone wants one, which is their calendar. BambooHR and MasterControl can stay private; that is the point of how they were built. Sword Health is a dual-HQ company that does not have to list as a Utah event.

The guess among the unfiled names is Lucid Software: South Jordan enterprise SaaS, a 2021 unicorn print, a conventional public-market story (diagramming and whiteboarding against Miro and Microsoft), and no public record of a 2021-style “pre-IPO” fake-start. It is still a guess. This corpus and the 2025–2026 Utah-city S-1 search did not surface a live IPO registration for Lucid or any of the others as of 2026-08-16.

Cross Creek is a late-stage and crossover investor, not an issuer.

Open Questions

  • Re-check Entrata CIK 0002028464 after 2026-08-16: has an EFFECT, 424B4, or RW posted?
  • Write pattern-group.md (CIK 0001811935), angel-studios.md (CIK 0001865200), and fatpipe.md (CIK 0001993400) from their EDGAR records. Do not invent offering terms here.
  • Does any other Utah issuer have a confidential DRS that this public search cannot see? A DRS stays confidential until the company files a public registration; submissions JSON lists Entrata's DRS form type and date, but the DRS document itself is not a public prospectus, and issuers that never file publicly do not appear in an S-1 search at all.
  • Re-run the Utah-city S-1 / F-1 / 424B4 search after 2026-08-16. The 2025-01-01 start date will miss older live registrations if any exist.

Evidence

See Also