What Happens If a US e-IPO Is Cancelled, Delayed, or Paused, and Why Does My USD Cash Show a "Pending Balance"?

If a company cancels or postpones its IPO, all active orders are automatically cancelled and the full reserved amount is returned to your USD Cash, with a notification sent to you. "Pending Balance" is simply the amount your active IPO order has reserved from your USD Cash, shown until allocation completes.

• IPO cancelled or postponed by the company: All active orders for that IPO are cancelled automatically and the full amount you reserved is returned to your USD Cash. You'll receive a notification informing you of the cancellation.
• Trading halts on listing day: IPO stocks can be temporarily halted due to high volatility — this is a normal mechanism exchanges use to maintain orderly markets, and trading resumes once the halt is lifted.
• Trading starting later than expected: IPO trading often begins a few hours after the regular market opens, since the underwriter needs time to confirm allocations and set the opening price. Your shares remain safely in your account regardless.
• "Pending Balance" explained: When you place a US e-IPO order, the committed amount is reserved from your buying power and shown under Pending Balance — it's still your money, just temporarily set aside until allocation is complete. Once allocation happens, any unused portion is returned and the Pending Balance updates automatically.
• Margin restriction: IPO shares are non-marginable for 30 days after the IPO date. After that period, they behave like any other US stock and can be used like normal holdings.

Related questions:

Q: What happens to my funds if a company cancels its IPO?
All active orders for that IPO are cancelled automatically and the full amount is returned to your USD Cash, with a notification sent.

Q: Why did my IPO stock stop trading right after listing?
This is a temporary trading halt due to volatility — a normal exchange mechanism — and trading resumes once the halt is lifted.

Q: Can I use my newly allocated IPO shares as margin collateral right away?
No — IPO shares are non-marginable for 30 days after the IPO date, after which they behave like any other US stock.