Mountain View, CA (August 26, 2013) – Today, law firm Fenwick & West announced the release of the firm’s IPO Survey covering the first half of 2013, “Key Metrics for Recent Technology and Life Sciences Initial Public Offerings.” The IPO survey provides half-yearly reviews of IPOs in the technology and life sciences sectors nationwide and offers a graphical overview of key deal parameters as well as a sense of recent trends and activity.
Fenwick’s IPO survey, authored by Daniel Winnike and Jeffrey Vetter, reveals a number of key findings including the following insights:
- 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.
Fenwick has a long history of working in capital markets having represented more than 150 issuers and underwriters in initial public offerings. In the past two years alone, the firm worked on many IPOs including: YuMe, Silver Spring Networks, Model N, Marin Software, Workday, ServiceNow, Facebook, Infoblox, Proofpoint, Vocera, Jive Software, Zillow.com, Fusion-io and Responsys.
About Fenwick & West
Established in 1972, Fenwick & West is one of the nation's premier law firms with extensive expertise in venture capital, public offerings and other corporate finance, joint ventures, M&A and strategic relationships, intellectual property, litigation and dispute resolution, taxation, antitrust, employment and labor law.
Fenwick & West LLP