IPO activity hit a two-year high in the second quarter of 2024 but still came in below expectations, with 39 IPOs raising a combined $8.9 billion as investors continued to warm up to new issuers while remaining disciplined on valuations. Moderate deal flow in April and June bookended a relatively slow May, as concerns over inflation and Fed rates lingered. With every IPO needing at least two law firms, one each for issuers and underwriters (and some with as many as seven), there were 120 legal engagements with 65 law firms, or 150 engagements with 73 firms including SPACs.
View our Report on The Most Active Law Firms of the 2Q24 IPO Market
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Read Renaissance Capital's other quarterly publications:
- 2Q 2024 US IPO Market Review
- 2Q Rankings for the Big Four Accounting Firms
