OST News

So far in 2022, IPO activity has been dominated by small, volatile issuers. Of the year’s 51 pricings to date, 19 (37%) have soared 100% or more in their debuts, while one-in-ten have jumped at least 500%. But those with the largest first-day pops have posted some of the worst losses in the aftermarket. ...read more

Companies have broadly put listing plans on hold amid the worst IPO sell-off in over a decade, but small issuers are still on the move. So far, 21 of the year’s 34 IPOs (62%) have raised less than $50 million, the highest concentration in over a decade. Sub-$50 million IPOs have historically accounted for less than one-quarter of activity. Small issuers are on track to...read more

After the IPO market's slowest first quarter in six years, eight IPOs raised $725 million in April, a 75% y/y decline in deal count and a 94% decline in proceeds. Just two IPOs raised more than $100 million as the year's micro-cap boom continued. While the...read more

Four IPOs raised $266 million this week, headlined by norovirus vaccine developer HilleVax (HLVX). The other three deals were micro-caps, an area of the IPO market that continues to see rapid price swings thanks to interest from momentum traders. Three SPACs also raised a combined $245 million, targeting Asian fintech, sustainable energy, and technology. The...read more