The 3Q20 was a record-breaking quarter for IPO activity, with 81 IPOs raising $28.5 billion. Soaring peer multiples and IPO enthusiasm caused activity to increase significantly from the 3Q19, when 39 IPOs raised $10.8 billion. Healthcare was the most active sector, as larger health services providers joined the steady stream of biotechs, followed by tech which saw a surge of activity in September. With every IPO requiring at least two legal firms, one for issuers and one for underwriters (and some hiring as many as seven), the 3Q20 saw 216 legal engagements (414 including SPACs) with 72 law firms.
View our Report on The Most Active Legal Firms of the 3Q20 IPO Market
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