IPO Proceeds Surge in First Half: SEC

Companies and other issuers raised more than $137 billion through 208 initial public offerings in the U.S. during the first half of 2026, according to updated Securities and Exchange Commission statistics. That compares with more than $27 billion through 180 IPOs a year earlier.

IPO proceeds rose nearly 400%, while the number of offerings increased about 16%. Follow-on registered offerings also grew: 557 deals raised more than $111 billion, compared with 505 deals and nearly $84 billion in the first half of 2025.

The IPO proceeds figure needs a closer look. Nearly $116 billion was raised in the second quarter alone, versus about $22 billion in the first. The SEC’s data also include blank-check companies and funds, alongside operating companies. Of the 208 first-half IPOs, 118 were blank-check or special purpose acquisition companies, 88 were corporate issuers and two were funds.

Corporate IPOs accounted for roughly $115 billion of first-half proceeds, according to the SEC’s quarterly breakdown. The median IPO raised $175 million in the second quarter, down from $200 million in the first, even as total quarterly proceeds climbed sharply. The difference between the median and the total indicates that larger transactions had an outsized effect on the aggregate figure.