Perhaps in anticipation of a summer beach vacation, the IPO market slimmed down by more than half in the second quarter after a gluttonous start to the year. IPOs on U.S. exchanges declined from 422 in the first quarter to 196 deals in the second, shrinking more than 53%. The total value of those deals shrunk even more, dropping 60% after the SEC increased SPAC supervision and admonitory guidance. Still, full year results are likely to impress.
A Q2 Pullback
The slowdown in IPOs began near the end of the first quarter, and continued through a relatively slow April and ...