Crickets in the market
For the second quarter in a row, the doors to the IPO markets remained firmly locked. It was the worst 2Q since The Great Recession in 2009. And the results—where they exist—are moribund.
There were just 21 new issues brought to market in 2Q 2022, down from a record-setting 118 in 2Q 2021 (Renaissance Capital, 2022). Just $2.1 billion in proceeds were raised—down from $40.7 billion in the same quarter in 2021 (Renaissance Capital, 2022). Average deal size plummeted to just $22 million, from $189 million last year (Renaissance Capital, 2022). Only six new issues managed to raise more than $100 million. Private equity (PE) were once again completely absent; venture capital (VC) brought just two deals to market (Renaissance Capital, 2022).
Source: Renaissance Capital, IPO Intelligence. US IPO Market, 2Q 2022 Quarterly Review. July 1, 2022.
About the IPO Insights Report Series
The IPO Insights report series delivers the latest information and analysis on quarterly IPO activity and performance to inform business leaders looking take their companies to the next level.