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, and turmoil within the banking industry caused a spike in volatility. With every IPO needing at least two law firms, one for issuers and one for underwriters (and some hiring as many as six), there were 96 legal engagements with 62 law firms, or 123 engagements with 74 firms including SPACs.
View our Report on The Most Active Law Firms of the 1Q23 IPO Market
To read the entire report, sign up for a free trial of IPO Pro, the platform that gives you all of the IPO information you need, all in one place.
Read Renaissance Capital's other quarterly publications:
