Bloomberg Law
Oct. 8, 2020, 8:18 AM

ANALYSIS: SPACs Lead IPO Market to Blowout Third Quarter

Preston Brewer
Preston Brewer
Legal Analyst

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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