# Specification Index (IPOPs)

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Estimated fully diluted share counts and any implied initial reference market caps displayed for IPOP markets are based on the best available public information at launch. Because public filings and offering terms may be incomplete, preliminary, or later revised, these figures are indicative only and should not be treated as guaranteed market capitalizations or fair value references.
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<table><thead><tr><th>Market</th><th width="253.49481201171875">Description</th><th>Initial Reference Price</th><th>Estimated Fully Diluted Share Count</th><th width="104.775146484375">Outside Launch Date</th><th>Settlement Period</th><th width="110.48260498046875">Max Leverage</th><th width="116.4244384765625">Discovery Bound</th><th width="127.700439453125">Max Discovery Bound Resets</th><th>Anticipated Listing Event</th><th>Margin Mode</th><th>Open Interest Cap</th></tr></thead><tbody><tr><td>Cerebras (CBRS)</td><td>CBRS is a pre-IPO market reflecting the market-implied expected price per share of Cerebras Systems common stock. Cerebras develops AI chips, supercomputing systems, and cloud infrastructure designed to power large-scale artificial intelligence workloads.</td><td>$175</td><td>279.5m</td><td>May 30, 2026</td><td>60 days (no later than July 30, 2026)</td><td>5x</td><td>±25%</td><td>5</td><td>IPO</td><td>Strict Isolated</td><td>$10m</td></tr></tbody></table>


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