Texas IPO Activity in 2018 and 2019 Preview

Overview

During 2018, 13 IPOs of Texas-headquartered companies were completed, raising approximately $2.6 billion of gross proceeds (excluding any exercise of the underwriters’ green shoe – all of the proceeds figures that follow exclude any exercise of the shoe). This compared to over 190 IPOs nationwide in the same period, raising almost $46.8 billion of gross proceeds. 

The number of Texas IPOs in 2018 was down from 23 — the third-most Texas IPOs since 2008 — the previous year. Over the last decade, Texas has averaged approximately 16 IPOs per year, with energy companies making up 45.3% of all IPOs in Texas during that time (excluding Special Purpose Acquisition Companies (“SPACs”)).