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IPOs Vanish In Third Quarter as Market Mayhem Saps Deal Appetite

Sept. 29, 2022, 12:05 PM

The funding void created by this year’s stalled market for initial public offerings is getting deeper, leaving cash-hungry startups scrambling for backup plans.

Surging interest rates and repeated market volatility have forced many companies to postpone plans for US IPOs. New issues raised just $2.7 billion in New York in the past three months, the lightest third quarter since 2008, according to data compiled by Bloomberg that excludes special purpose acquisition companies.

This is the third weak quarter in a row and represents a dramatic change from just last year, when historically low interest rates supported record levels of IPO ...