Equity issuance has surged in 2026, with U.S. companies already raising over $431 billion year-to-date and multiple IPOs scheduled through December, including Iambic Therapeutics and City Therapeutics in mid-October plus Anthropic’s targeted November debut. Recent volatility, 19-year highs in Treasury yields near 5.3%, and resumed rate-hike concerns have prompted postponements of several deals, yet the pipeline remains robust with nine new S-1 filings in a recent 48-hour period and a deep backlog of private firms seeking liquidity. Goldman Sachs projects record full-year 2026 proceeds, supported by AI-driven investor appetite, while OpenAI has deferred until 2027. Market-implied odds price in high probability of at least one IPO before year-end given the near-term calendar and ongoing filings.