Technology and Life Sciences IPO Survey – 2014, First Half

This report analyzes key aspects of initial public offerings (IPOs) for 76 technology and life sciences companies that went public in the first half of 2014. This half-yearly update of our annual 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 brisk pace from 2013 continued in the first half of 2014. Life sciences companies were particularly active, with 43 completed deals compared to 33 technology transactions.
  • Of the completed technology IPOs, just under 60% raised more than $100 million, and just over 20% raised over $200 million. Of completed life sciences IPOs, fewer than 20% raised over $100 million and under 5% raised over $200 million.
  • Of the completed life sciences IPOs, 44% priced below the range provided in their red herring while only 15% of the technology deals priced below their red herring range.
  • Follow-on offerings for IPO issuers remained popular during the first half of 2014. Of the 45 companies that completed life sciences or technology IPOs in the second half of 2013, 13 completed follow-on offerings within 180 days of their IPO.
  • Of the 2014 technology and life sciences IPOs, 14 were for companies with headquarters outside the U.S., with six of these being for China-based companies, five for European-based companies, two for companies based in Israel and one company based in Canada.