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Key Metrics for Recent Technology and Life Sciences Initial Public Offerings
Following a volatile spring 2020 due to the rapid global spread of the novel coronavirus, the capital markets, including IPOs, appear to be rebounding strongly. Our latest report shows that a total of 46 companies went public in the United States in the first half of 2020, down from 49 in the second half of 2019. The life sciences sector drove deal volume, while technology offerings declined. However, despite considerable uncertainty due to the pandemic and the upcoming U.S. election, the pipeline for second-half 2020 and 2021 technology and life sciences IPOs remains strong.
Key H1 2020 Findings:
- In the life sciences sector, 33 companies completed offerings (compared to 26 in H2 2019).
- In the technology sector, 13 offerings priced (compared to 23 in H2 2019).
- Only two offerings in H1 2020 raised proceeds of more than $1 billion, both in the life sciences, with biopharmaceutical company Royalty Pharma being the largest ($2.2 billion).
- Pricing conditions continued to be favorable for H1 2020 offerings.
- There was a significant increase in the number of special purpose acquisition company (SPAC) IPOs and acquisitions, and we expect this trend to continue in H2 2020.
This report analyzes key aspects of initial public offerings for technology and life sciences companies that went public in the first half of 2020. Our IPO Survey was developed for clients, friends and others interested in considering the data surrounding recent IPO activity. Downloading the full report will provide you access to a number of tables and charts that offer a graphical view of key parameters as well as a sense of recent trends.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.