The IPO market’s third-quarter results blew the doors off both convention and expectations. Led by the record-setting SPAC IPO Pershing Square Tontine and Snowflake, the biggest software IPO ever, the IPO market surprised and astounded. Against a worldwide pandemic, deepening recession, and summer vacations, the market had its best quarter by deal count since fourth-quarter 1997 and its highest quarterly deal value ever. IPOs raised $65 billion, surpassing by more than $20 billion the previous record of $44.7 billion set in fourth-quarter 1999.
Unconventional Offerings in a Nontraditional Quarter
Those hefty numbers do not even include unicorns Palantir ...
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