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Illustration: Shoshana Gordon/Axios

More than 100 companies are expected to go public on U.S. stock exchanges by year-end, capping off what's already been the busiest year for IPOs since 2000.

By the numbers: 279 companies already completed U.S. IPOs in 2021, topping last year's 218.

  • Neither total includes the deluge of SPAC IPOs (423 in 2021 vs 248 in 2020), per SPAC Research, nor the smaller number of direct listings.
  • U.S. IPOs have slightly outperformed the S&P 500 this year, according to the Renaissance IPO index, although they were lagging just three weeks ago.

There haven't been many U.S. listings in the past month, as Wall Street took its annual August break, but the floodgates are set to open.

  • Notable companies already on file to go public include Warby Parker, Fresh Market, iFit, Toast, Sportradar, Allbirds, Sweetgreen and Authentic Brands Group.
  • Yogurt maker Chobani and electric car maker Rivian are among those that have filed confidentially with the SEC, while reports persist that Reddit, Discord, Flipcart and Instacart are still considering 2021 listings.

The bottom line: Expect the fourth quarter surge to continue into 2022, due to the record amount of money that continues to be invested in privately-held startups.

Go deeper

Dan Primack, author of Pro Rata
Dec 6, 2021 - Economy & Business

SPACs are beating out traditional IPOs in 2021

Expand chart
Data: Dealogic; Chart: Thomas Oide/Axios

SPACs are outpacing traditional IPOs in 2021, according to data from Dealogic.

By the numbers: 562 SPACs went public on U.S. exchanges between January and November, compared to 373 regular companies. SPACs raised $151 billion in their IPOs, while traditional issuers raised $148 billion.

D.C.-Beijing tensions are shifting markets

Illustration: Aïda Amer/Axios

U.S. markets stand to lose $2 trillion in value if D.C. and Beijing drift further apart.

Why it matters: Political chasms are showing up in new securities regulations that put companies and investors in a bind. The rules are also another reflection of how much relations between the world’s largest economies have cooled, even as they remain economically interdependent. 

Mike Allen, author of AM
3 hours ago - Politics & Policy

First look: Anita Dunn advises Dems on economy message for '22

Signs from a President Biden event yesterday in Kansas City, Mo. Photo: Chase Castor/Bloomberg via Getty Images

In a midterm preview, top Democratic strategist Anita Dunn advises the party's House and Senate members to frame Republicans "as being against the economic interests of working Americans."

What she's saying: "Explicitly framing Republicans as opposing policies to lower costs does better than simply framing Republicans as the 'party of no,'" Dunn, White House senior adviser until August, writes in the memo.

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