In the first quarter of 2020, 24 IPOs raised $6.8 billion, up from the 1Q19 by deal count and proceeds. Activity waned in March as the stock market’s sharp sell-off closed the IPO window. Biotechs once again dominated issuance, as health care comprised half of all IPOs. With every IPO requiring at least two legal firms, one for issuers and one for underwriters (and some hiring as many as five), the 1Q20 saw 69 legal engagements (100 including SPACs) with 39 law firms.
View our Report on The Most Active Legal Firms of the 1Q20 IPO Market 
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