When Saul D. Goodman reconnected with his debt capital markets professor in 2006, he wanted to increase his involvement with his alma mater. It had been 17 years since Goodman graduated from the University of Florida and he wanted to
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IPOs could be headed for a rocky road in 2023
Initial public offerings appear likely to remain sluggish for at least several months to start 2023, while special purpose acquisition companies, which provide businesses with alternative paths to public listings, face headwinds of their own. The IPO drought could last
Startups end a bruising 2022, stare down another challenging year
Startups had a dismal year by nearly every measurement in 2022, from plummeting investment to scarce public listings, and data point to a 2023 that could be even more difficult. Insights from Cordell Eminent Scholar Jay Ritter inform this story
IPO market has seen ‘day turn to night’ in 2022: Expert
University of Florida Cordell Eminent Scholar and IPO expert Jay Ritter joins Yahoo! Finance Live to discuss the state of the IPO market, how it’s evolved in 2022, and what held many back. Hear more insights from Ritter in this
IPO proceeds tanked in 2022. They haven’t been this low since 1990.
Investment bankers had a rough year. Thirty-seven operating companies went public and raised $7 billion in 2022—the lowest amount of total initial public offering proceeds since the $4.3 billion raised in 1990, according to Jay Ritter, Cordell Eminent Scholar. Read
Lanvin Group shares plunged 25% in their trading debut
Some 97% of shares in the SPAC set up by Primavera Capital were redeemed, as investors asked for their capital back instead of staying on board for the merger with Lanvin. Investors overall have turned away from SPAC listings, leading
KKR Acquisition Holding to liquidate as the latest SPAC melts down
Research data from Cordell Eminent Scholar Jay Ritter informs this story about KKR’s SPAC, which debuted during the go-go year of 2020 ahead of increased regulatory scrutiny and tighter credit conditions. Read more in this story from MarketWatch.
EY Leaves Key Issues of Split Undecided as 2023 Vote Approaches
The fragmented leadership of the partners and various affiliates makes EY’s divestiture more complicated than recent spin-offs like those of General Electric Co. and Johnson & Johnson, said Jay Ritter, Cordell Eminent Scholar at the University of Florida. “That’s where
SPAC sponsors used to win at investors’ expense. Now both are losing.
A paper by Cordell Eminent Scholar Jay Ritter, Ph.D. student Minmo Gahng and alumnus Donghang Zhang informs this story about how blank-check vehicles are running out of time to close mergers, costing sponsors dearly. Given that SPACs offer no benefits
Tech’s reality check: How the industry lost $7.4 trillion in one year
IPOs this year slowed to a trickle after banner years in 2020 and 2021, when companies pushed through the pandemic and took advantage of an emerging world of remote work and play and an economy flush with government-backed funds. Data
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