We analyzed key aspects of initial public offerings (IPOs) for 33 U.S. technology and life sciences companies that went public in the first half of 2013. This half-yearly update of our full 2011-2012 IPO Survey was developed for our clients, friends and others interested in looking deeper into recent IPO activity and exploring trends in the data. Downloading the full report will provide you access to a number of tables and charts that offer a graphical overview of key parameters as well as a sense of recent trends and activity.
Key Findings:
- The first half of 2013 culminated with Q2 representing the strongest quarter for technology and life sciences IPOs in more than 10 quarters.
- The life sciences sector was especially active, with 18 offerings in the first half of the year. Life sciences IPOs were at the top end of the scale in terms of size of the offering and also at the lower end in terms of size.
- Technology deals tended to show upward pricing momentum throughout the IPO process, with 33.3% of the 2013 offerings pricing above, 53.3% within and 13.3% below their red herring range and 86.7% closing above their offering price in first day trading.
- In a post-JOBS Act era, five issuers who were otherwise eligible to avail themselves of the SEC’s confidential submission process, elected not to do so. Four issuers who filed confidentially elected to make only one confidential submission prior to their first public filing.