Legal Business Sees ‘End of Cycle’ for IPO Work

Mitch Nussbaum, co-chair of Loeb & Loeb’s Capital Markets & Corporate practice, is quoted in a Bloomberg Law article discussing the decreasing number of companies going public in 2022 and the effects it has on law firms.

According to the article, the downturn is in large part driven by the end of skyrocketing demand by special acquisition companies (SPACs), which have been affected by a low S&P 500 first-half performance and growing federal interest rates. On the other hand, the decrease of hiring in capital markets practices has curtailed competitive hiring and allowed lawyers to return to a more sustainable level of work.

“People aren’t just sitting at home working like they were the last two summers, they’re a little more out and about this summer,” Mitch told the publication.

Click here to read the full article on Bloomberg Law’s website.