**Multiple U.S. IPOs priced in mid-October 2026, including City Therapeutics ($200M at $18), Iambic Therapeutics ($150M at $16), and Amaero, with additional offerings scheduled for late October such as Bitari and several SPAC vehicles.** This reflects a selective but active window supported by 259 IPOs year-to-date and Goldman Sachs’ projection of $175 billion in 2027 IPO proceeds amid elevated AI-related capital needs. Recent filings (e.g., Lycia Therapeutics) and confidential roadshows for larger names like Anthropic add near-term catalysts through November, though aftermarket performance remains mixed and selectivity favors companies with visible revenue or margins. Market-implied odds on related contracts price continued activity before year-end as the baseline outcome.