Design Highlights

Bankers are rushing IPOs to capitalize on a significant 40% increase in market volume before potential slowdowns in 2026.
The urgency stems from historical SEC shutdowns and delays, prompting firms to strategically optimize their timing for public offerings.
A surge in SPAC IPOs indicates strong investor interest, driving bankers to prioritize companies ready to enter the market quickly.
Companies are motivated to avoid a holiday slump, pushing many to expedite their planned public offerings to seize the current favorable conditions.
With over 150 fintech companies poised for growth, bankers are aggressively targeting sectors with high potential to maximize returns before shifting market dynamics.

Bankers and the US IPO Pipeline

As the US IPO market heats up, bankers are racing against the clock. The urgency is palpable. In just the first half of 2025, the IPO landscape has shifted dramatically. A total of 196 IPOs have already been filed, marking a significant 40% increase in volume compared to the previous year. It’s like the floodgates have opened, and bankers are scrambling to get their share of the spoils before the tide turns again.

Q2 2025 alone saw 59 IPOs raising a whopping $15.02 billion, and guess what? Blank-check companies, or SPACs if you’re feeling fancy, dominated the scene. They accounted for 41 of those IPOs, raking in $9.17 billion. Talk about a comeback! Investors are clearly warming up to the SPAC model, which surged from 17 in Q1 to 41 in Q2. Who wouldn’t want to get in on that action?

It’s not just the SPACs that are making waves. The TMT sector stole the spotlight early in the year, driving the IPO numbers up. Energy and natural resources also made a statement, especially with a major liquefied natural gas outfit raising $1.8 billion. That’s some serious cash! Additionally, approximately 232 IPOs have been announced, with firms preparing for potential opportunities amid ongoing uncertainty.

Meanwhile, fintech is lurking in the background, waiting for its moment. With over 150 private fintech companies sitting on piles of cash, it’s just a matter of time before they say, “We’re ready for our close-up.” In fact, total IPOs in 2025 are already on track to surpass previous years.

But here’s the kicker: bankers know they have limited time. They’re pushing IPOs out the door, driven by the fear of an impending market slowdown in 2026. Historical SEC shutdowns and review delays have made filing feel like a game of musical chairs. Just like travelers who opt for annual travel plans to save money on frequent trips, companies are strategizing to maximize their timing advantages in the IPO market.

Companies that planned to go public later in 2025 are now scrambling to push their offerings into the current window, hoping to avoid the dreaded holiday slump that could leave them out in the cold.

In a nutshell, the bankers’ playbook is all about urgency and timing. They’re targeting companies that are ready to go public, leaving others in a backlog that could get ugly.

The current window of opportunity is wide open, but for how long? With the clock ticking, they’re betting big on this moment. The stakes are high, and the pressure is on. Will they capitalize before the music stops? Only time will tell.