- The third quarter was an outstanding three months for IPO activity, with 81 IPOs raising $28.5B vs. 39 IPOs raising $10.8B in Q3 a year earlier.
- Healthcare was the most active sector, producing nearly half of the quarter’s IPOs as larger health services providers joined the steady stream of biotechs. Next up was tech, which saw a surge of activity in September.
- Given the pandemic-induced need for virtual healthcare offerings, Telehealth companies like GoodRx Holdings (NASDAQ:GDRX), Amwell (NYSE:AMWL) and others saw strong investor demand.
- The year's largest IPO was Snowflake (NYSE:SNOW), which famously doubled in price immediately following its offering.
- Then there were IPO alternatives - namely SPACs, with a record-breaking 82 blank-check companies raising $30B. And don't forget direct listings from Asana (NYSE:ASAN) and Palantir (NYSE:PLTR).
- Airbnb (AIRB), DoorDash (DOORD) and others are expected to keep the IPO market active in Q4.
- U.S. Quarterly IPO Activity:
- For other IPO debuts this year, and upcoming IPOs, see Seeking Alpha's IPO Coverage and IPO Research Services.
