MLYS News

The year's crop of large IPOs is off to a strong start, with nearly 80% currently above issue. As long as these solid returns hold, we expect a decent harvest of public listings in the fall. So far this year, 19 IPOs have raised $100 million or more, outpacing all of 2022 (16 IPOs), but still well below the 10-year median of about 70 sizable IPOs at this point in a year. 2023&rsquo...read more

The IPO Pickup Gets Cut Short Following the US IPO market's slowest year in decades, the first quarter of 2023 continued the trend with 29 IPOs raising just $2.3 billion. Deal flow started at a decent pace but failed to pick back up after the February lull, as hawkish signals from the Fed, renewed recession fears,...read more

Ten IPOs raised a combined $1.5 billion in February, roughly in line with the 10-year median (10 IPOs, $1.3B). Five issuers raised $100+ million, the most since November 2021, led by solar tracker play Nextracker (NXT; $638mm). The rest of the month's IPOs were micro-caps, many of which delayed several times before pricing as regulators continue to require extra...read more

Six IPOs began trading this past week, led by four that raised $100+ million, the most in one week since November 2021. They were joined by two SPACs. Several small deals were unable to price (SODR, INTS, BFRG, NFTG, CWD, NRXS). Upsizing and pricing above the range, Nextracker (NXT) raised $638 million at a $3.5 billion market cap in the year’s...read more