The Securities and Exchange Commission (SEC) has published an update on markets during the first quarter of 2026. The SEC holds a mission of maintaining efficient markets, facilitating capital formation and the protection of investors.
During the prior administration more emphasis was placed on investor protection issues. Today, under the leadership of SEC Chair Paul Atkins, the Commission is pursuing a more balanced approach. While protecting investors they also want capital markets to operate efficiently, providing access to capital and improving IPOs.
The SEC reports that during Q1 the number of initial public offerings increased to 99 from the year prior when 84 were completed. These IPOs raised $22 billion in 2026 and $11.8 billion in Q1 2025.
As well, there were 264 follow-on registered offerings raising over $44.2 billion in Q1 2026, compared to 250 follow-on registered offerings raising over $40.4 billion in Q1 2025.
Some of the increase in IPOs were driven by a resurgence in SPACs and the perception the current Commission is more amenable to these deals. AI is also driving capital growth and the belief that markets are more conducive to a successful public offering supports public markets. As more changes are in the queue, and if the economy holds, the IPO market should continue on a robust pace for the rest of the year.
