Bloomberg Law
July 10, 2020, 9:04 AM

ANALYSIS: IPO Market Hauling Larger Deals During Pandemic

Preston Brewer
Preston Brewer
Legal Analyst

In the first half of 2020, the market for initial public offerings weathered the pandemic with larger deals, particularly from special purpose acquisition companies, commonly known as SPACs. Compared to the pre-Covid-19 fourth quarter of 2019, Q2 2020’s deal count grew from 62 to 73 deals, while the average deal size ballooned from $172.8 million to $354.2 million, a 105% increase in just two quarters. The average deal size for the 24 SPAC IPOs completed in Q2 2020 was $330 million, rising 67% from an average of $197.6 million on 17 deals in Q4 2019.

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