In the fourth quarter of 2024 there were 80 new initial public offerings (IPOs), which raised a combined total of $8.8 billion. Despite total IPOs increasing by 33% from the previous quarter and reaching a high point for the year, total gross proceeds decreased by 17% in Q4, the smallest combined gross proceeds of any quarter in 2024. The increase in IPOs and corresponding decrease in gross proceeds indicates that average gross proceeds for IPOs for the fourth quarter were much lower than previous quarters.

In this article, Audit Analytics further examines the Q4 2024 IPOs, highlighting SPAC IPO dominance, direct listing trends and key audit contributors.