Just 21 IPOs raised $2.1 billion in the US IPO market’s slowest second quarter since 2009. Micro-caps accounted for the majority of deal flow as just six IPOs raised more than $100 million, led by eyecare spin-off Bausch + Lomb. The Big Four accounting firms audited five of the six sizable deals, representing 72% of the quarter’s proceeds but just 24% of total IPOs, a multi-year low. With every offering requiring audited financials, there were 21 auditing engagements with 16 accounting firms, or 36 with 19 firms including SPACs.
View our Report on The Most Active Audit Firms of the 2Q22 IPO Market
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