Securities Regulation Daily Wrap Up, CORPORATE FINANCE—SEC’s Division of Economic and Risk Analysis reports IPOs gained ground in Q2 2026, (Sep 24, 2026)

By Suzanne Cosgrove

DERA data by industry show tech companies dominated IPO proceeds in the second half of 2026, representing more than 60 percent of the industry group’s earnings.

Updated statistics and data visualizations published Wednesday by the SEC’s Division of Economic and Risk Analysis (DERA) showed a 16 percent increase in the number of IPOs in the first half of 2026, compared with first-half 2025, and a 10 percent year-over-year increase in the number of follow-on offerings logged in the first two quarters of 2026.

Some 208 IPOs raised over $137 billion in the first half of 2026, compared with 180 IPOs raising over $27 billion in the first half of 2025, representing about a 16 percent increase in the number of IPOs and a nearly 400 percent increase in proceeds raised.

Looking at follow-on offerings released by DERA, 557 registered offerings raised over $111 billion in the first half of 2026, compared with 505 offerings raising nearly $84 billion in the first half of 2025. The first-half 2026 data represents an approximately 10 percent increase in the number of offerings and a 33 percent increase in proceeds raised.

Industry groups. Special purpose acquisition company (SPACs)—publicly traded "blank check" companies formed to fund the acquisition of private companies—led the field among IPO types, making up 56.7 percent of the IPOS in the first and second quarters of 2026. In 2025, SPACs represented 38.6 percent of the IPOS issued for the entire year.

While logging in with a smaller number of IPOs in the first half of 2026, tech companies outperformed in terms of proceeds, according to the DERA data. Tech firms brought in 65.6 percent of the overall total when compared with other categories during the period. By comparison, SPACs represented 15.1 percent of the proceeds in the first two quarters.

Upward trend in IPOS. So far, IPO issuance has been picking up this year after a several-year slump. DERA also reported an increase in IPOs and follow-on offerings in the first quarter. Statistics showed a 15 percent increase in IPOs and a 5.6 percent rise in follow-on offerings in first-quarter 2026 compared to last year’s first quarter.

In contrast, corporate bond offerings slipped in the second quarter of 2026, declining to 409 in the second quarter, compared to 495 in first-quarter 2026 and 457 in second quarter 225. The corporate bond sector’s decline is likely fueled by rising interest rates and higher inflation projections.

The SEC’s public statistics and data visualizations webpage shows market trends and charts to show distribution across different categories, as well as heat maps to show their geographic distributions.

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