**Strong equity market conditions and a robust pipeline of filings continue to support IPO activity through the remainder of 2026.** As of late September, multiple offerings have priced recently, including ADARx Pharmaceuticals’ upsized $446 million deal at the high end of its range and several SPAC-related transactions, while Oura Inc. and Accelevation Holdings Corp. are scheduled for September 30 with combined targets exceeding $2.7 billion. Year-to-date U.S. IPO proceeds have already surpassed prior-year totals by a wide margin, driven by larger, later-stage issuers in biotech, AI infrastructure, and consumer sectors. Recent quarterly data showed 31 listings raising $35 billion in Q3 despite elevated Treasury yields and selective investor caution around AI spending. Key catalysts ahead include potential mega-deals such as Anthropic and broader Q4 flow, with resolution of the market hinging on sustained risk appetite, stable rates, and post-IPO performance.