Underwriting, Legal and Auditor
League Tables
Below are the yearly and quarterly SPAC IPO league tables. All data is initially shown ranked by volume, but the columns are sort-able by clicking on the arrow keys (Δ∇) in the column headers.
Additionally, If you would like to see the commentary for each league table release, you can access the Underwriting and Legal Table Pages via these links:
Underwriting League Legal League Auditor League
League Tables
Financial Advisor YTD 2020
Rank Advisor Value
($mm) Value
% Mkt Share Total
Deal
Count Deal Count
(Buy Side) Deal Count
(Sell Side) Average
Deal Size
1 Morgan Stanley 29,662.0 9.0% 7 4 3 4237.4
2 Deutsche Bank 27,623.0 8.4% 6 5 1 4603.8
3 Citigroup 26,101.0 7.9% 7 5 2 3728.7
4 Moelis 18,952.0 5.8% 2 2 0 9476.0
5 BofA 16,946.0 5.2% 4 0 4 4236.5
6 Centerview 16,338.0 5.0% 2 1 1 8169.0
7 Jefferies 15,243.0 4.6% 10 6 4 1524.3
8 UBS 14,438.0 4.4% 2 1 1 7219.0
9 Barclays 13,062.0 4.0% 3 1 2 4354.0
10 Credit Suisse 9,641.0 2.9% 5 2 3 1928.2
11 Connaught 8,470.0 2.6% 2 2 0 4235.0
12 J.P. Morgan 8,015.0 2.4% 4 0 4 2003.8
13 Stifel 5,771.0 1.8% 4 3 1 1442.8
14 LionTree 4,257.0 1.3% 2 0 2 2128.5
15 BTIG 4,242.0 1.3% 3 2 1 1414.0
16 Cowen 4,023.7 1.2% 4 1 3 1005.9
17 BMO 3,319.0 1.0% 2 1 1 1659.5
18 Baird 3,300.0 1.0% 1 1 0 3300.0
19 Cantor 3,254.0 1.0% 3 2 1 1084.7
20 Oakvale 3,200.0 1.0% 2 1 1 1600.0
21 Evercore 3,050.0 0.9% 3 0 3 1016.7
22 Nomura 2,993.0 0.9% 2 2 0 1496.5
23 GCA 2,900.0 0.9% 1 0 1 2900.0
24 Lazard 2,803.0 0.9% 2 0 2 1401.5
25 Raymond James 2,770.5 0.8% 3 1 2 923.5
26 RBC 2,363.0 0.7% 2 1 1 1181.5
27 Klein Group 2,175.0 0.7% 1 1 0 2175.0
28 Houlihan Lokey 1,825.0 0.6% 2 0 2 912.5
29 Canaccord Genuity 1,673.1 0.5% 3 1 2 557.7
30 Oppenheimer 1,566.0 0.5% 1 1 0 1566.0
31 B. Riley Securities 1,511.5 0.5% 3 3 0 503.8
32 Wedbush 1,319.0 0.4% 1 0 1 1319.0
33 Chardan 1,307.5 0.4% 3 3 0 435.8
34 William Blair 1,300.0 0.4% 1 0 1 1300.0
35 Tyton 1,300.0 0.4% 1 1 0 1300.0
36 Marathon 1,097.0 0.3% 1 0 1 1097.0
37 Murray Devine 1,044.0 0.3% 1 0 1 1044.0
38 Earlybird 880.0 0.3% 3 3 0 293.3
39 Wells Fargo 747.0 0.2% 2 1 1 373.5
40 MTS Health Partners 721.0 0.2% 1 1 0 721.0
41 Rothschild 630.5 0.2% 1 0 1 630.5
42 Guggenheim 550.0 0.2% 1 0 1 550.0
43 Northland 523.0 0.2% 1 0 1 523.0
44 FT Partners 523.0 0.2% 1 0 1 523.0
45 Harrison Co. 482.0 0.2% 1 0 1 482.0
46 Roth Capital 413.3 0.1% 1 1 0 413.3
47 Craig-Hallum 413.3 0.1% 1 1 0 413.3
48 Three Keys 233.0 0.1% 1 0 1 233.0
49 I-Bankers 150.0 0.1% 1 1 0 150.0
50 Colliers 150.0 0.1% 1 0 1 150.0
51 Benchmark 150.0 0.1% 1 0 1 150.0
52 Maxim 84.8 0.0% 1 1 0 84.8
Capital Markets Advisor YTD 2020
Rank Advisor Value
($mm) Value
% Mkt Share Total
Deal
Count Deal Count
(Buy Side) Deal Count
(Sell Side) Average
Deal Size
1 Credit Suisse 28,451.0 20.0% 8 7 1 3,556.4
2 Deutsche Bank 23,388.0 16.5% 6 5 1 3,898.0
3 Morgan Stanley 19,424.4 13.7% 4 2 2 4,856.1
4 Citigroup 18,133.0 12.8% 4 3 1 4,533.3
5 Cantor 9,032.0 6.4% 8 7 1 1,129.0
6 Jefferies 6,342.0 4.5% 8 7 1 792.8
7 Oppenheimer 3,967.0 2.8% 2 1 1 1,983.5
8 Stifel 3,584.1 2.5% 5 3 2 716.8
9 Goldman Sachs 3,417.4 2.4% 2 2 0 1,708.7
10 Evercore 3,347.4 2.4% 3 0 3 1,115.8
11 BTIG 2,923.0 2.1% 2 2 0 1,461.5
12 Raymond James 2,000.0 1.4% 1 0 1 2,000.0
13 Nomura 2,000.0 1.4% 1 1 0 2,000.0
14 BMO 2,000.0 1.4% 1 1 0 2,000.0
15 Oakvale 1,800.0 1.3% 1 1 0 1,800.0
16 Northland 1,715.9 1.2% 2 1 1 858.0
17 Earlybird 1,566.0 1.1% 1 1 0 1,566.0
18 Barclays 1,457.5 1.0% 2 0 2 728.8
19 J.P. Morgan 1,293.0 0.9% 1 0 1 1,293.0
20 William Blair 1,242.9 0.9% 2 1 1 621.5
21 PJT 1,087.0 0.8% 1 1 0 1,087.0
22 RBC 1,044.0 0.7% 1 1 0 1,044.0
23 BofA 845.0 0.6% 1 1 0 845.0
24 Wells Fargo 747.0 0.5% 2 1 1 373.5
25 B. Riley Securities 674.1 0.5% 1 1 0 674.1
26 Cowen 549.7 0.4% 1 1 0 549.7
27 Chardan 140.0 0.1% 1 1 0 140.0
Legal Advisor YTD 2020
Rank Law Firm Value
($mm) % Mkt Share Avg Size
($mm) Deal Count
(Total) Buy
Side
Count Buy Side
Value
($mm) Sell
Side
Count Sell Side
Value
($mm)
1 Weil, Gotshal & Manges LLP 32,656.0 17.2% 5,442.7 6 4 28,955.0 2 3,701.0
2 Kirkland & Ellis LLP 24,481.9 12.9% 2,448.2 10 6 9,701.4 4 14,780.5
3 Latham & Watkins LLP 14,972.0 7.9% 2,994.4 5 1 993.0 4 13,979.0
4 Simpson Thacher & Bartlett 12,182.0 6.4% 6,091.0 2 2 12,182.0
5 Orrick Herrington & Sutcliffe LLP 10,423.0 5.5% 2,084.6 5 5 10,423.0
6 Skadden, Arps, Slate, Meagher & Flom LLP 9,315.0 4.9% 3,105.0 3 3 9,315.0
7 White & Case LLP 7,992.1 4.2% 1,332.0 6 6 7,992.1
8 Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP 5,567.0 2.9% 1,855.7 3 3 5,567.0
9 Ellenoff Grossman & Schole LLP 5,478.8 2.9% 913.1 6 6 5,478.8
10 Hughes Hubbard & Reed LLP 5,475.0 2.9% 2,737.5 2 2 5,475.0
11 Vinson & Elkins LLP 5,398.0 2.9% 1,799.3 3 3 5,398.0
12 Greenberg Traurig, LLP 4,055.0 2.1% 1,013.8 4 2 2,055.0 2 2,000.0
13 Winston & Strawn LLP 3,813.1 2.0% 1,271.0 3 2 1,156.1 1 2,657.0
14 Cooley LLP 3,487.7 1.8% 1,162.6 3 3 3,487.7
15 Sidley Austin 3,408.0 1.8% 1,136.0 3 1 1,841.0 2 1,567.0
16 Wilson Sonsini Goodrich & Rosati 3,300.0 1.7% 3,300.0 1 1 3,300.0
17 Paul, Weiss, Rifkind, Wharton & Garrison LLP 3,136.0 1.7% 1,568.0 2 2 3,136.0
18 Gotshal & Manges, LLP 2,900.0 1.5% 2,900.0 1 1 2,900.0
18 DLA Piper 2,331.1 1.2% 1,165.6 2 2 2,331.1
20 S. Friedman & Co. 2,000.0 1.1% 2,000.0 1 1 2,000.0
21 Gornitzky 2,000.0 1.1% 2,000.0 1 1 2,000.0
22 Loeb & Loeb LLP 1,863.8 1.0% 466.0 4 4 1,863.8
23 Cleary Gottlieb Steen & Hamilton LLP 1,800.0 1.0% 1,800.0 1 1 1,800.0
24 Gibson, Dunn & Crutcher LLP 1,475.5 0.8% 737.8 2 2 1,475.5
25 Ledgewood PC 1,300.0 0.7% 1,300.0 1 1 1,300.0
26 Wick Phillips LLP 1,097.0 0.6% 1,097.0 1 1 1,097.0
27 Morrison Foerster LLP 1,087.0 0.6% 1,087.0 1 1 1,087.0
27 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 1,087.0 0.6% 1,087.0 1 1 1,087.0
27 Graubard Miller 1,087.0 0.6% 1,087.0 1 1 1,087.0
30 Paul Hastings LLP 993.0 0.5% 993.0 1 1 993.0
30 Sullivan & Cromwell LLP 965.0 0.5% 965.0 1 1 965.0
32 BakerHostetler 965.0 0.5% 965.0 1 1 965.0
33 Goodwin Procter LLP 847.4 0.4% 847.4 1 1 847.4
34 Davis Polk & Wardwell LLP 765.0 0.4% 765.0 1 1 765.0
35 Haynes and Boone LLP 745.0 0.4% 745.0 1 1 745.0
36 Millbank 674.1 0.4% 674.1 1 1 674.1
37 Dechert LLP 630.5 0.3% 630.5 1 1 630.5
38 Morrison Cohen LLP 550.0 0.3% 550.0 1 1 550.0
39 Blank Rome 549.7 0.3% 549.7 1 1 549.7
40 Stoel Rives LLP 542.5 0.3% 542.5 1 1 542.5
40 Mayer Brown LLP 525.0 0.3% 525.0 1 1 525.0
42 Kane Kessler, PC 525.0 0.3% 525.0 1 1 525.0
42 Rutan & Tucker 482.0 0.3% 482.0 1 1 482.0
44 Morgan, Lewis & Blockius 415.9 0.2% 415.9 1 1 415.9
45 Jenner & Block 415.9 0.2% 415.9 1 1 415.9
45 Jones Day 413.3 0.2% 413.3 1 1 413.3
45 Ropes & Gray LLP 358.0 0.2% 358.0 1 1 358.0
45 Graydon Head & Ritchey LLP 331.1 0.2% 331.1 1 1 331.1
49 Faegre Drinker Biddle & Reath LLP 331.1 0.2% 331.1 1 1 331.1
49 Arnold & Porter 331.0 0.2% 331.0 1 1 331.0
51 Stikeman Elliott and Posse Herrera Ruiz 255.0 0.1% 255.0 1 1 255.0
52 Freshfields Bruckhaus Deringer US LLP 255.0 0.1% 255.0 1 1 255.0
52 Dentons Canada LLP 255.0 0.1% 255.0 1 1 255.0
54 Brigard & Urrutia Abogados SAS 255.0 0.1% 255.0 1 1 255.0
55 Dickinson Wright PLLC 150.0 0.1% 150.0 1 1 150.0
56 Becker & Poliakoff LLP 150.0 0.1% 150.0 1 1 150.0
57 Shumaker, Loop & Kendrick LLP 143.0 0.1% 143.0 1 1 143.0
58 Stradley Ronon Steven & Young, LLP 140.0 0.1% 140.0 1 1 140.0
59 Nelson Mullins Riley and Scarborough 140.0 0.1% 140.0 1 1 140.0
60 Lowenstein Sandler LLP 84.8 0.0% 84.8 1 1 84.8
YTD 2020
Rank Underwriter Volume
($mm) Volume
% Mkt Share Volume
Sold
($mm) Volume
Sold
% Mkt Share Deal
Count Average
Deal Size
1 Citigroup 14,982.5 18.0% 5,165.1 14.6% 21 5165.1
2 Credit Suisse 10,712.6 12.9% 6,679.0 18.9% 19 6679.0
3 Goldman Sachs 9,787.6 11.8% 4,571.8 13.0% 18 4571.8
4 UBS 8,400.8 10.1% 2,905.0 8.2% 16 2905.0
5 Jefferies 6,192.9 7.4% 2,216.0 6.3% 11 2216.0
6 BofA 5,128.5 6.2% 1,748.0 5.0% 10 1748.0
7 Deutsche Bank 4,947.7 5.9% 2,331.6 6.6% 13 2331.6
8 Morgan Stanley 4,423.0 5.3% 1,359.3 3.9% 8 1359.3
9 J.P. Morgan 4,306.5 5.2% 1,498.2 4.2% 6 1498.2
10 Cantor 3,344.7 4.0% 2,226.7 6.3% 10 2226.7
11 Barclays 1,612.5 1.9% 618.2 1.8% 6 618.2
12 Cowen 1,153.8 1.4% 420.7 1.2% 4 420.7
13 Stifel 982.5 1.2% 268.7 0.8% 4 268.7
14 RBC 889.0 1.1% 175.0 0.5% 2 175.0
15 BTIG 794.8 1.0% 404.4 1.1% 4 404.4
16 Odeon Capital Group, LLC 719.0 0.9% 123.0 0.3% 2 123.0
17 Earlybird 701.0 0.8% 366.0 1.0% 4 366.0
18 Chardan 541.9 0.7% 426.5 1.2% 6 426.5
19 Nomura 430.0 0.5% 212.0 0.6% 2 212.0
20 Evercore ISI 414.0 0.5% 334.8 0.9% 1 334.8
21 Northland 330.0 0.4% 50.0 0.1% 2 50.0
22 Raymond James 319.5 0.4% 150.0 0.4% 1 150.0
23 Oppenheimer 300.0 0.4% 148.0 0.4% 2 148.0
24 I-Bankers 238.0 0.3% 106.0 0.3% 2 106.0
25 Piper Sandler 225.0 0.3% 20.3 0.1% 1 20.3
26 ThinkEquity 225.0 0.3% 22.5 0.1% 1 22.5
27 Baird 200.0 0.2% 20.0 0.1% 1 20.0
28 B. Riley FBR 175.0 0.2% 175.0 0.5% 1 175.0
29 Imperial 172.5 0.2% 120.0 0.3% 1 120.0
30 Leerink Partners 166.8 0.2% 145.0 0.4% 1 145.0
31 Maxim 144.0 0.2% 135.0 0.4% 2 135.0
32 Craig-Hallum 76.5 0.1% 37.5 0.1% 1 37.5
33 Roth Capital Partners 76.5 0.1% 37.5 0.1% 1 37.5
34 Ladenburg 40.0 0.0% 40.0 0.1% 1 40.0
35 Brookline 40.0 0.0% 0.0 0.0% 1 0.0
Q3 2020
Rank Underwriter Volume
($mm) Volume
% Mkt Share Volume
Sold
($mm) Volume
Sold
% Mkt Share Deal
Count Average
Deal Size
1 Citigroup 11,728.5 19.1% 3,781.1 15.1% 16 733.0
2 UBS 6,926.8 11.3% 2,451.0 9.8% 11 629.7
3 Credit Suisse 6,722.1 10.9% 4,059.5 16.2% 12 560.2
4 Goldman Sachs 6,473.6 10.5% 2,971.8 11.8% 12 539.5
5 Jefferies 5,632.9 9.2% 1,935.0 7.7% 8 704.1
6 J.P. Morgan 3,892.5 6.3% 1,345.2 5.4% 5 778.5
7 Deutsche Bank 3,257.7 5.3% 1,578.6 6.3% 9 362.0
8 BofA 3,162.0 5.1% 1,014.5 4.0% 7 451.7
9 Morgan Stanley 2,963.0 4.8% 1,085.3 4.3% 5 592.6
10 Cantor 2,889.7 4.7% 1,830.7 7.3% 8 361.2
11 Barclays 1,612.5 2.6% 618.2 2.5% 6 268.8
12 BTIG 794.8 1.3% 404.4 1.6% 4 198.7
13 Stifel 782.5 1.3% 218.7 0.9% 3 260.8
14 Cowen 753.8 1.2% 240.7 1.0% 3 251.3
15 RBC 544.0 0.9% 100.0 0.4% 1 544.0
16 Odeon Capital Group, LLC 414.0 0.7% 64.0 0.3% 1 414.0
17 Evercore ISI 414.0 0.7% 334.8 1.3% 1 414.0
18 Northland 330.0 0.5% 50.0 0.2% 2 165.0
19 Earlybird 319.5 0.5% 150.0 0.6% 1 319.5
20 Raymond James 319.5 0.5% 150.0 0.6% 1 319.5
21 Chardan 275.0 0.4% 183.0 0.7% 2 137.5
22 Nomura 230.0 0.4% 110.0 0.4% 1 230.0
23 Piper Sandler 225.0 0.4% 20.3 0.1% 1 225.0
24 ThinkEquity 225.0 0.4% 22.5 0.1% 1 225.0
25 Leerink Partners 166.8 0.3% 145.0 0.6% 1 166.8
26 Oppenheimer 100.0 0.2% 80.0 0.3% 1 100.0
27 I-Bankers 100.0 0.2% 49.5 0.2% 1 100.0
28 Maxim 75.0 0.1% 75.0 0.3% 1 75.0
29 Ladenburg 40.0 0.1% 40.0 0.2% 1 40.0
30 Brookline 40.0 0.1% 0.0 0.0% 1 40.0
1H 2020
Rank Underwriter Volume
($mm) Volume
% Mkt Share Volume
Sold
($mm) Volume
Sold
% Mkt Share Deal
Count Average
Deal Size
1 Credit Suisse 3,990.5 18.6% 2,619.5 28.2% 7 570.1
2 Goldman Sachs 3,264.0 15.2% 1,075.0 11.6% 6 544.0
3 Citigroup 3,204.0 14.9% 1,209.0 13.0% 5 640.8
4 BofA 1,966.5 9.1% 733.5 7.9% 3 655.5
5 Deutsche Bank 1,690.0 7.9% 753.0 8.1% 4 422.5
6 UBS 1,474.0 6.9% 454.0 4.9% 5 294.8
7 Morgan Stanley 1,460.0 6.8% 274.0 3.0% 3 486.7
8 Jefferies 560.0 2.6% 281.0 3.0% 3 186.7
9 Cantor 455.0 2.1% 396.0 4.3% 2 227.5
10 J.P. Morgan 414.0 1.9% 153.0 1.6% 1 414.0
11 Cowen 400.0 1.9% 180.0 1.9% 1 400.0
12 Earlybird 381.5 1.8% 216.0 2.3% 3 127.2
13 RBC 345.0 1.6% 75.0 0.8% 1 345.0
14 Odeon Capital Group, LLC 305.0 1.4% 59.0 0.6% 1 305.0
15 Chardan 266.9 1.2% 243.5 2.6% 4 66.7
16 Stifel 200.0 0.9% 50.0 0.5% 1 200.0
17 Nomura 200.0 0.9% 102.0 1.1% 1 200.0
18 Oppenheimer 200.0 0.9% 68.0 0.7% 1 200.0
19 Baird 200.0 0.9% 20.0 0.2% 1 200.0
20 Imperial 172.5 0.8% 120.0 1.3% 1 172.5
21 I-Bankers 138.0 0.6% 56.5 0.6% 1 138.0
22 Craig-Hallum 76.5 0.4% 37.5 0.4% 1 76.5
23 Roth Capital Partners 76.5 0.4% 37.5 0.4% 1 76.5
24 Maxim 69.0 0.3% 60.0 0.6% 1 69.0
Q2 2020
Rank Underwriter Volume
($mm) Volume
% Mkt Share Volume
Sold
($mm) Volume
Sold
% Mkt Share Deal
Count Average
Deal Size
1 Credit Suisse 3,484.5 23.7% 2,179.5 35.7% 5 696.9
2 Citigroup 2,104.0 14.3% 579.0 9.5% 4 526.0
3 BofA 1,966.5 13.4% 733.5 12.0% 3 655.5
4 Goldman Sachs 1,244.0 8.5% 191.0 3.1% 3 414.7
5 Morgan Stanley 1,035.0 7.1% 174.0 2.9% 2 517.5
6 UBS 1,014.0 6.9% 373.0 6.1% 3 338.0
7 Cantor 455.0 3.1% 396.0 6.5% 2 227.5
8 J.P. Morgan 414.0 2.8% 153.0 2.5% 1 414.0
9 Cowen 400.0 2.7% 180.0 3.0% 1 400.0
10 Deutsche Bank 345.0 2.4% 150.0 2.5% 1 345.0
11 RBC 345.0 2.4% 150.0 2.5% 1 345.0
12 Jefferies 330.0 2.2% 215.0 3.5% 2 165.0
13 Odeon Capital Group, LLC 305.0 2.1% 59.0 1.0% 1 305.0
14 Stifel 200.0 1.4% 50.0 0.8% 1 200.0
15 Nomura 200.0 1.4% 102.0 1.7% 1 200.0
16 Oppenheimer 200.0 1.4% 68.0 1.1% 1 200.0
17 Baird 200.0 1.4% 20.0 0.3% 1 200.0
18 Chardan 143.7 1.0% 134.0 2.2% 2 71.9
19 Earlybird 140.0 1.0% 116.0 1.9% 2 70.0
20 Craig-Hallum 76.5 0.5% 37.5 0.6% 1 76.5
21 Roth Capital Partners 76.5 0.5% 37.5 0.6% 1 76.5
Q1 2020
Rank Underwriter Volume
($mm) Volume
% Mkt Share Volume
Sold
($mm) Volume
Sold
% Mkt Share Deal
Count Average
Deal Size
1 Goldman Sachs 2,020.0 29.6% 884.0 27.2% 3 673.3
2 Deutsche Bank 1,345.0 19.7% 603.0 18.6% 3 448.3
3 Citigroup 1,100.0 16.1% 630.0 19.4% 1 1,100.0
4 Credit Suisse 506.0 7.4% 440.0 13.5% 2 253.0
5 UBS 460.0 6.7% 81.0 2.5% 2 230.0
6 Morgan Stanley 425.0 6.2% 100.0 3.1% 1 425.0
7 Earlybird 241.5 3.5% 100.0 3.1% 1 241.5
8 Jefferies 230.0 3.4% 66.0 2.0% 1 230.0
9 Imperial Capital 172.5 2.5% 120.0 3.7% 1 172.5
10 I-Bankers 138.0 2.0% 56.5 1.7% 1 138.0
11 Chardan 123.1 1.8% 109.5 3.4% 2 61.6
12 Maxim Group 69.0 1.0% 60.0 1.8% 1 69.0
FY 2019
Rank Underwriter Volume
($mm) Volume
% Mkt Share Volume
Sold
($mm) Volume
Sold
% Mkt Share Deal
Count Average
Deal Size
1 Cantor 3,638.3 16.8% 2,566.1 22.1% 14 259.9
2 Deutsche Bank 2,541.8 11.7% 1,270.0 10.9% 8 317.7
3 Credit Suisse 2,491.6 11.5% 1,286.2 11.1% 9 276.8
4 Goldman Sachs 2,102.7 9.7% 864.8 7.4% 6 350.4
5 BTIG 1,600.8 7.4% 729.9 6.3% 7 228.7
6 Citigroup 1,529.1 7.1% 960.0 8.3% 4 382.3
7 Earlybird 969.5 4.5% 587.0 5.0% 6 161.6
8 UBS 951.8 4.4% 498.8 4.3% 4 237.9
9 Barclays 741.8 3.4% 301.3 2.6% 3 247.3
10 Morgan Stanley 645.0 3.0% 241.7 2.1% 2 322.5
11 J.P. Morgan 575.0 2.7% 166.7 1.4% 2 287.5
12 B. Riley FBR 546.3 2.5% 475.0 4.1% 3 182.1
13 BofA 537.5 2.5% 194.0 1.7% 2 268.8
14 Stifel 530.2 2.4% 111.9 1.0% 2 265.1
15 Jefferies 488.8 2.3% 395.0 3.4% 2 244.4
16 Chardan 446.9 2.1% 238.1 2.0% 5 89.4
17 Nomura 300.2 1.4% 159.5 1.4% 1 300.2
18 Cowen 280.5 1.3% 190.0 1.6% 2 140.3
19 I-bankers 172.5 0.8% 94.5 0.8% 2 86.3
20 Northland 172.5 0.8% 74.1 0.6% 1 172.5
21 Craig-Hallum 108.0 0.5% 30.0 0.3% 1 108.0
22 Maxim 103.5 0.5% 90.0 0.8% 2 51.8
23 BMO 100.0 0.5% 55.0 0.5% 1 100.0
24 SVP Leerink Partners 100.0 0.5% 45.0 0.4% 1 100.0
Q4 2019
Rank Underwriter Volume
($mm) Volume
% Mkt Share Volume
Sold
($mm) Volume
Sold
% Mkt Share Deal
Count Average
Deal Size
1 Cantor 1,045.0 21.9% 780.0 27.3% 5 209.0
2 Credit Suisse 616.3 12.9% 358.4 12.5% 2 308.1
3 UBS 603.8 12.7% 435.0 15.2% 2 301.9
4 Barclays 508.8 10.7% 200.0 7.0% 2 254.4
5 BTIG 460.0 9.7% 261.3 9.1% 2 230.0
6 Earlybird 348.5 7.3% 240.0 8.4% 3 116.2
7 Morgan Stanley 300.0 6.3% 91.7 3.2% 1 300.0
8 J.P. Morgan 300.0 6.3% 91.7 3.2% 1 300.0
9 Jefferies 172.5 3.6% 120.0 4.2% 1 172.5
10 B. Riley FBR 149.5 3.1% 130.0 4.5% 1 149.5
11 Leerink Partners 100.0 2.1% 45.0 1.6% 1 100.0
12 BMO 100.0 2.1% 55.0 1.9% 1 100.0
13 I-Bankers 57.5 1.2% 49.5 1.7% 1 57.5
Q3 2019
Rank Underwriter Volume
($mm) Volume
% Mkt Share Volume
Sold
($mm) Volume
Sold
% Mkt Share Deal
Count Average
Deal Size
1 Credit Suisse 937.9 16.3% 505.5 17.7% 4 234.5
2 Deutsche Bank 926.3 16.1% 387.5 13.6% 3 308.8
3 Cantor 925.0 16.1% 539.8 18.9% 3 308.3
4 Goldman Sachs 764.1 13.3% 350.0 12.2% 2 382.1
5 Citigroup 589.1 10.2% 165.0 5.8% 2 294.6
6 BTIG 460.0 8.0% 275.0 9.6% 2 230.0
7 Morgan Stanley 345.0 6.0% 150.0 5.2% 1 345.0
8 J.P. Morgan 275.0 4.8% 75.0 2.6% 1 275.0
9 B. Riley FBR 253.0 4.4% 220.0 7.7% 1 253.0
10 Earlybird 172.5 3.0% 100.0 3.5% 1 172.5
11 Maxim 57.5 1.0% 50.0 1.7% 1 57.5
12 Chardan 44.4 0.8% 40.0 1.4% 1 44.4
1H 2019
Rank Underwriter Volume
($mm) Volume
% Mkt Share Volume
Sold
($mm) Volume
Sold
% Mkt Share Deal
Count Average
Deal Size
1 Cantor 1,668.3 15.1% 1246.3 21.0% 6 278.1
2 Deutsche Bank 1,615.6 14.6% 882.5 14.9% 5 323.1
3 Goldman Sachs 1,338.6 12.1% 514.8 8.7% 4 334.6
4 Credit Suisse 937.5 8.5% 422.3 7.1% 3 312.5
5 Citigroup 850.0 7.7% 825.0 13.9% 2 425.0
6 BTIG 680.8 6.1% 193.6 3.3% 3 226.9
7 BofA 537.5 4.9% 194.0 3.3% 2 268.8
8 Stifel 530.2 4.8% 111.9 1.9% 2 265.1
9 Earlybird 448.5 4.1% 247.0 4.2% 2 224.3
10 Chardan 402.5 3.6% 198.1 3.3% 4 100.6
11 UBS 348.0 3.1% 63.8 1.1% 2 174.0
12 Jefferies 316.3 2.9% 275.0 4.6% 1 316.3
13 Nomura 300.2 2.7% 159.5 2.7% 1 300.2
14 Cowen 280.5 2.5% 190.0 3.2% 2 140.3
15 Barclays 233.0 2.1% 101.3 1.7% 1 233.0
16 Northland 172.5 1.6% 74.1 1.2% 1 172.5
17 B. Riley FBR 143.8 1.3% 125.0 2.1% 1 143.8
18 I-bankers 115.0 1.0% 45.0 0.8% 1 115.0
19 Craig-Hallum 108.0 1.0% 30.0 0.5% 1 108.0
20 Maxim 46.0 0.4% 40.0 0.7% 1 46.0
Q2 2019
Rank Underwriter Volume
($mm) Volume
% Mkt Share Volume
Sold
($mm) Volume
Sold
% Mkt Share Deal
Count Average
Deal Size
1 Cantor 987.5 22.4% 861.0 28.7% 3 329.2
2 Citigroup 850.0 19.3% 825.0 27.5% 2 425.0
3 Deutsche Bank 400.0 9.1% 169.8 5.7% 1 400.0
4 Goldman Sachs 400.0 9.1% 169.8 5.7% 1 400.0
5 Jefferies 316.3 7.2% 275.0 9.2% 1 316.3
6 Credit Suisse 287.5 6.5% 157.6 5.3% 1 287.5
7 BofA 287.5 6.5% 84.9 2.8% 1 287.5
8 Earlybird 172.5 3.9% 72.0 2.4% 1 172.5
9 Northland 172.5 3.9% 74.1 2.5% 1 172.5
10 B. Riley FBR 143.8 3.3% 125.0 4.2% 1 143.8
11 Chardan 115.0 2.6% 70.0 2.3% 1 115.0
12 UBS 115.0 2.6% 30.0 1.0% 1 115.0
13 I-bankers 115.0 2.6% 45.0 1.5% 1 115.0
14 Maxim 46.0 1.0% 40.0 1.3% 1 46.0
Q1 2019
Rank Underwriter Volume
($mm) Volume
% Mkt Share Volume
Sold
($mm) Volume
Sold
% Mkt Share Deal
Count Average
Deal Size
1 Deutsche Bank 1,210.0 19.2% 712.8 25.4% 4 302.5
2 Goldman Sachs 933.0 14.8% 345.0 12.3% 3 311.0
3 Cantor 641.7 10.2% 385.3 13.7% 4 160.4
4 BTIG 641.7 10.2% 193.6 6.9% 3 213.9
5 Stifel 530.2 8.4% 111.9 4.0% 2 265.1
6 Credit Suisse 400.0 6.3% 131.3 4.7% 1 400.0
7 Nomura 300.2 4.8% 159.5 5.7% 1 300.2
8 Cowen 280.5 4.4% 190.0 6.8% 2 140.3
9 Chardan 280.0 4.4% 128.1 4.6% 3 93.3
10 Earlybird 276.0 4.4% 175.0 6.2% 1 276.0
11 BofA 250.0 4.0% 109.1 3.9% 1 250.0
12 UBS 233.0 3.7% 33.8 1.2% 1 233.0
13 Barclays 233.0 3.7% 101.3 3.6% 1 233.0
14 Craig-Hallum 108.0 1.7% 30.0 1.1% 1 108.0
FY 2018
Rank Underwriter Volume
($mm) Volume
% Mkt Share Volume
Sold
($mm) Volume
Sold
% Mkt Share Deal
Count Average
Deal Size
1 Credit Suisse 2,212.0 12.2% 913.9 10.2% 5 442.4
2 Chardan 2,205.4 12.2% 766.4 8.6% 15 147.0
3 BofA 1,897.5 10.5% 643.0 7.2% 5 379.5
4 Citigroup 1,882.0 10.4% 1,133.4 12.7% 4 470.5
5 Cantor 1,668.0 9.2% 1,204.0 13.5% 8 208.5
6 Earlybird 1,527.9 8.5% 843.5 9.4% 9 169.8
7 Deutsche Bank 1,250.0 6.9% 751.8 8.4% 4 312.5
8 Goldman Sachs 1,215.0 6.7% 711.3 8.0% 3 405.0
9 Oppenheimer 657.8 3.6% 235.4 2.6% 2 328.9
10 B. Riley FBR 625.3 3.5% 515.5 5.8% 3 208.4
11 Jefferies 564.3 3.1% 420.0 4.7% 3 188.1
12 UBS 508.0 2.8% 137.5 1.5% 2 254.0
13 BTIG 299.3 1.7% 55.0 0.6% 2 149.6
14 CLSA 258.0 1.4% 50.0 0.6% 1 258.0
15 Cowen 230.0 1.3% 165.0 1.8% 1 230.0
16 Macquarie 200.0 1.1% 59.0 0.7% 1 200.0
17 Morgan Stanley 200.0 1.1% 67.5 0.8% 1 200.0
18 Dowling & Partners 172.5 1.0% 42.0 0.5% 1 172.5
19 Raymond James 155.3 0.9% 44.6 0.5% 1 155.3
20 Ladenburg 115.0 0.6% 92.5 1.0% 1 115.0
21 CIM Securities 115.0 0.6% 0.5 0.0% 1 115.0
22 Maxim 63.3 0.4% 55.0 0.6% 1 63.3
23 I-bankers 63.3 0.4% 27.5 0.3% 1 63.3
Q4 2018
Rank Underwriter Volume
($mm) Volume
% Mkt Share Volume
Sold
($mm) Volume
Sold
% Mkt Share Deal
Count Avg. Size
($mm)
1 Cantor 840.0 18.3% 660.0 31.6% 3 280.0
2 BofA Merrill Lynch 640.0 14.1% 167.5 8.0% 2 320.0
3 Chardan 611.9 13.4% 267.2 12.8% 5 122.4
4 Citigroup 440.0 9.7% 190.0 9.1% 1 440.0
5 Credit Suisse 440.0 9.7% 110.0 5.3% 1 440.0
6 EarlyBirdCapital
429.4 9.4% 208.8 10.0% 3 143.1
7 Jefferies 364.3 8.0% 260.0 12.4% 2 182.1
8 UBS 220.5 4.8% 40.0 1.9% 1 220.5
9 Macquarie 200.0 4.4% 59.0 2.8% 1 200.0
10 Morgan Stanley 200.0 4.4% 67.5 3.2% 1 200.0
11 BTIG 130.0 2.9% 32.5 1.6% 1 130.0
12 I-Bankers Securities 63.3 1.4% 27.5 1.3% 1 63.3
Q3 2018
Rank Underwriter Volume
($mm) Volume
% Mkt Share Volume
Sold
($mm) Volume
Sold
% Mkt Share Deal
Count Avg. Size
($mm)
1 Citigroup 1,242.0 35.7% 743.4 36.1% 2 621.0
2 Credit Suisse 552.0 15.9% 158.4 7.7% 1 552.0
3 Chardan 408.8 11.8% 206.3 10.0% 4 102.2
4 Deutsche Bank 400.0 11.5% 375.0 18.2% 1 400.0
5 EarlyBirdCapital 250.0 7.2% 206.3 10.0% 1 250.0
6 Jefferies
200.0 5.8% 160.0 7.8% 1 200.0
7 Cantor Fitzgerald 189.5 5.5% 131.0 6.4% 2 94.8
8 BTIG 169.3 4.9% 22.5 1.1% 1 169.3
9 Maxim Group
63.3 1.8% 55.0 2.7% 1 63.3
1H 2018
Rank Underwriter Volume ($mm) Deal Count Avg deal size % Mkt Share
1 BofA Merrill Lynch 1,257.5 3 419.2 13.2%
2 Goldman Sachs 1,215.0 3 405.0 12.8%
3 Credit Suisse 1,182.5 3 394.2 12.4%
4 Chardan 976.8 5 195.4 10.3%
5 Deutsche Bank 850.0 3 283.3 8.9%
6 EarlyBirdCapital, Inc. 843.5 5 168.7 8.9%
7 Cantor Fitzgerald 638.5 3 212.8 6.7%
8 B. Riley FBR 625.3 3 208.4 6.6%
9 Oppenheimer & Co. 414.0 1 414.0 4.4%
10 Citic CLSA 258.0 1 258.0 2.7%
11 UBS 250.0 1 250.0 2.6%
12 Cowen 230.0 1 230.0 2.4%
13 Citigroup 200.0 1 200.0 2.1%
14 Dowling & Partners Securities 172.5 1 172.5 1.8%
15 Raymond James 155.3 1 155.3 1.6%
16 Ladenburg 115.0 1 115.0 1.2%
17 CIM Securities 115.0 1 115.0 1.2%
Q2 2018
Rank Underwriter Volume ($mm) Deal Count Avg. Size ($mm) % Mkt Share
1 Credit Suisse 882.5 2 441.3 16.9%
2 Goldman Sachs 690.0 1 690.0 13.2%
3 Chardan 689.3 3 229.8 13.2%
4 EarlyBirdCapital, Inc. 671.0 3 223.7 12.9%
5 BofA Merrill Lynch 632.5 1 632.5 12.1%
6 B. Riley FBR 500.3 2 250.1 9.6%
7 Cantor Fitzgerald 258.0 1 258.0 4.9%
8 Citic CLSA 258.0 1 258.0 4.9%
9 UBS 250.0 1 250.0 4.8%
10 Cowen 230.0 1 230.0 4.4%
11 Raymond James 155.3 1 155.3 3.0%
Q1 2018
Rank Underwriter Volume
($mm) Deal
Count Avg. Size
($mm) % Mkt
Share
1 Deutsche Bank 850.0
3 283.3 22.0%
2 BofA Merrill Lynch 625.0 2 312.5 16.2%
3 Goldman Sachs
525.0 2 262.5 13.6%
4 Cantor
380.5 2 190.3 9.9%
5 Credit Suisse 300.0 1 300.0 7.8%
6 Chardan
287.5 2 143.8 7.4%
7 Citigroup 200.0 1 200.0 5.2%
8 EarlyBirdCapital, Inc.
172.5 2 86.3 4.5%
9 Dowling & Partners Securities LLC 172.5 1 172.5 4.5%
10 B. Riley FBR 125.0 1 125.0 3.2%
11 Ladenburg Thalmann
111.5 1 111.5 2.9%
12 CIM Securities 111.5 1 111.5 2.9%
2017
Rank Underwriter Volume
($mm) Deal
Count Avg. Size
($mm) % Mkt
Share
1 Credit Suisse 4,181.0 8 522.6 19.0%
2 Citigroup 4,121.8 8 515.2 18.7%
3 Deutsche Bank 3,259.8 6 543.3 14.8%
4 Goldman Sachs 3,032.0 5 606.4 13.8%
5 J.P. Morgan 1,497.5 4 374.4 6.8%
6 EarlybirdCapital, Inc. 1,214.2 8 151.8 5.5%
7 Cantor Fitzgerald 1,130.0 4 282.5 5.1%
8 Stifel 556.7 2 278.3 2.5%
9 BofA Merrill Lynch 460.0 1 460.0 2.1%
10 B. Riley FBR 345.0 2 172.5 1.6%
11 RBC Capital Markets 345.0 1 345.0 1.6%
12 Wells Fargo 300.0 1 300.0 1.4%
13 Cowen & Company 287.3 2 143.6 1.3%
14 Maxim Group 281.2 2 140.6 1.3%
15 Chardan Capital Markets 240.0 3 80.0 1.1%
16 National Bank of Canada 229.2 1 229.2 1.0%
17 Macquarie Capital 207.0 1 207.0 0.9%
18 Morgan Stanley 200.0 1 200.0 0.9%
19 Ladenburg Thalmann 115.0 1 115.0 0.5%
YTD 2020
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's
Counsel) Deal
Count
(UW's
Counsel) Avg
Size
($mm) %
Mkt
Share
1 Ropes & Gray LLP 11,230.0 19 4 15 591.1 13.12%
2 Skadden, Arps, Slate, Meagher & Flom LLP 11,039.2 27 11 16 408.9 12.90%
3 Kirkland & Ellis LLP 10,025.9 32 16 16 313.3 11.72%
4 Davis Polk & Wardwell LLP 8,124.1 16 0 16 507.8 9.49%
5 White & Case LLP 7,683.4 23 14 9 334.1 8.98%
6 Ellenoff Grossman & Schole LLP 6,844.9 27 12 15 253.5 8.00%
7 Weil, Gotshal & Manges LLP 5,004.5 8 7 1 625.6 5.85%
8 Winston & Strawn LLP 4,015.0 11 9 2 365.0 4.69%
9 Cadwalader, Wickersham & Taft LLP 4,000.0 1 1 0 4,000.0 4.78%
10 Paul, Weiss, Rifkind, Wharton & Garrison LLP 3,302.3 3 3 0 1,100.8 3.86%
11 Graubard Miller 2,710.5 10 5 5 271.0 3.17%
12 Shearman & Sterling LLP 1,955.0 5 0 5 391.0 2.28%
13 Greenberg Traurig, LLP 1,888.8 7 3 4 269.8 2.21%
14 Goodwin Procter LLP 1,498.2 6 6 0 249.7 1.79%
15 Loeb & Loeb LLP 1,441.6 12 9 3 120.1 1.68%
16 Ledgewood PC 1,214.7 3 3 0 404.9 1.45%
17 Paul Hastings LLP 980.0 3 1 2 326.7 1.17%
18 Cleary Gottlieb Steen & Hamilton LLP 724.5 1 1 0 724.5 0.87%
19 Sidley Austin 602.5 3 0 3 200.8 0.70%
20 Fried, Frank, Harris, Shriver & Jacobson LLP 575.0 1 1 0 575.0 0.69%
21 Akin Gump Strauss Hauer & Feld LLP 360.0 1 1 0 360.0 0.43%
22 Debevoise & Plimpton LLP 345.0 1 1 0 345.0 0.41%
23 Vinson & Elkins LLP 345.0 1 1 0 345.0 0.41%
24 Latham & Watkins LLP 345.0 1 1 0 345.0 0.41%
25 Venable 230.0 1 1 0 230.0 0.26%
26 Crowell & Moring, LLP 200.0 1 1 0 200.0 0.23%
27 Hughes Hubbard & Reed LLP 200.0 1 1 0 200.0 0.23%
28 Tarter, Krinsky & Drogin LLP 172.5 1 1 0 172.5 0.20%
29 K&L Gates LLP 172.5 1 0 1 172.5 0.20%
30 Schiff Hardin LLP 138.0 1 0 1 138.0 0.16%
31 Blank Rome 100.0 1 1 0 100.0 0.12%
32 Scarinci & Hollenbeck, LLC 57.5 1 0 1 57.5 0.07%
33 Raiti, PLLC 40.0 1 1 0 40.0 0.05%
34 Kramer Levin Naftalis & Frankel LLP 40.0 1 0 1 40.0 0.05%
Q3 2020
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's
Counsel) Deal
Count
(UW's
Counsel) Avg
Size
($mm) %
Mkt
Share
1 Ropes & Gray LLP 8,735.0 14 3 11 623.9 13.8%
2 Kirkland & Ellis LLP 7,696.0 24 12 12 320.7 12.2%
3 White & Case LLP 7,378.4 22 13 9 335.4 11.7%
4 Skadden, Arps, Slate, Meagher & Flom LLP 7,052.2 18 7 11 391.8 11.2%
5 Ellenoff Grossman & Schole LLP 5,807.9 21 9 12 276.6 9.2%
6 Davis Polk & Wardwell LLP 5,581.6 11 0 11 507.4 8.8%
7 Cadwalader, Wickersham & Taft LLP 4,000.0 1 1 0 4,000.0 6.5%
8 Weil, Gotshal & Manges LLP 2,682.0 4 3 1 670.5 4.2%
9 Paul, Weiss, Rifkind, Wharton & Garrison LLP 2,202.3 2 2 0 1,101.1 3.5%
10 Graubard Miller 2,102.5 5 3 2 420.5 3.3%
11 Greenberg Traurig, LLP 1,589.8 5 3 2 318.0 2.5%
12 Goodwin Procter LLP 1,498.2 6 6 0 249.7 2.4%
13 Ledgewood PC 1,214.7 3 3 0 404.9 2.0%
14 Loeb & Loeb LLP 1,029.3 6 4 2 171.5 1.6%
15 Paul Hastings LLP 980.0 3 1 2 326.7 1.6%
16 Cleary Gottlieb Steen & Hamilton LLP 724.5 1 1 0 724.5 1.2%
17 Winston & Strawn LLP 700.0 3 3 0 233.3 1.1%
18 Fried, Frank, Harris, Shriver & Jacobson LLP 575.0 1 1 0 575.0 0.9%
19 Shearman & Sterling LLP 483.0 2 0 2 241.5 0.8%
20 Sidley Austin 402.5 2 0 2 201.3 0.6%
21 Akin Gump Strauss Hauer & Feld LLP 360.0 1 1 0 360.0 0.6%
22 Debevoise & Plimpton LLP 345.0 1 1 0 345.0 0.6%
23 Vinson & Elkins LLP 345.0 1 1 0 345.0 0.6%
24 Latham & Watkins LLP 345.0 1 1 0 345.0 0.6%
25 Venable 230.0 1 1 0 230.0 0.4%
26 Kramer Levin Naftalis & Frankel LLP 40.0 1 0 1 40.0 0.1%
1H 2020
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's
Counsel) Deal
Count
(UW's
Counsel) Avg
Size
($mm) %
Mkt
Share
1 Skadden, Arps, Slate, Meagher & Flom LLP 3,937.0 9 4 5 437.4 16.8%
2 Winston & Strawn LLP 3,315.0 8 6 2 414.4 14.2%
3 Davis Polk & Wardwell LLP 2,542.5 5 0 5 508.5 10.9%
4 Ropes & Gray LLP 2,445.0 5 1 4 489.0 10.4%
5 Kirkland & Ellis LLP 2,329.9 8 4 4 291.2 10.0%
6 Weil, Gotshal & Manges LLP 2,322.5 4 4 0 580.6 9.9%
7 Shearman & Sterling LLP 1,472.0 3 0 3 490.7 6.3%
8 Paul, Weiss, Rifkind, Wharton & Garrison LLP 1,100.0 1 1 0 1100.0 4.7%
9 Ellenoff Grossman & Schole LLP 1,037.0 6 3 3 172.8 4.4%
10 Graubard Miller 608.0 5 2 3 121.6 2.6%
11 Loeb & Loeb LLP 412.4 6 5 1 68.7 1.8%
12 White & Case LLP 305.0 1 1 0 305.0 1.3%
13 Greenberg Traurig, LLP 299.0 2 0 2 149.5 1.3%
14 Crowell & Moring, LLP 200.0 1 1 0 200.0 0.9%
15 Hughes Hubbard & Reed LLP 200.0 1 1 0 200.0 0.9%
16 Sidley Austin LLP 200.0 1 0 1 200.0 0.9%
17 Tarter, Krinsky & Drogin LLP 172.5 1 1 0 172.5 0.7%
18 K&L Gates LLP 172.5 1 0 1 172.5 0.7%
19 Schiff Hardin LLP 138.0 1 0 1 138.0 0.6%
20 Blank Rome LLP 100.0 1 1 0 100.0 0.4%
21 Scarinci & Hollenbeck, LLC 57.5 1 0 1 57.5 0.2%
22 Raiti, PLLC 40.0 1 1 0 40.0 0.2%
Q2 2020
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's
Counsel) Deal
Count
(UW's
Counsel) Avg
Size
($mm) %
Mkt
Share
1 Skadden, Arps, Slate, Meagher & Flom LLP 3,707.0 8 3 5 463.4 23.8%
2 Davis Polk & Wardwell LLP 2,266.5 4 0 4 566.6 14.6%
3 Kirkland & Ellis LLP 2,034.2 6 4 2 339.0 13.1%
4 Weil, Gotshal & Manges LLP 1,897.5 3 3 0 632.5 12.2%
5 Shearman & Sterling LLP 1,242.0 2 0 2 621.0 8.0%
6 Ropes & Gray LLP 1,100.0 2 1 1 550.0 7.1%
7 Ellenoff Grossman & Schole LLP 830.0 4 1 3 207.5 5.3%
8 Winston & Strawn LLP 789.0 3 2 1 263.0 5.1%
9 Graubard Miller 366.5 4 1 3 91.6 2.4%
10 White & Case LLP 305.0 1 1 0 305.0 2.0%
11 Loeb & Loeb LLP 220.2 3 3 0 73.4 1.4%
12 Crowell & Moring, LLP 200.0 1 1 0 200.0 1.3%
13 Hughes Hubbard & Reed LLP 200.0 1 1 0 200.0 1.3%
14 Sidley Austin LLP 200.0 1 0 1 200.0 1.3%
15 Blank Rome LLP 100.0 1 1 0 100.0 0.6%
16 Scarinci & Hollenbeck, LLC 57.5 1 0 1 57.5 0.4%
17 Raiti, PLLC 40.0 1 1 0 40.0 0.3%
Q1 2020
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's
Counsel) Deal
Count
(UW's
Counsel) Avg
Size
($mm) %
Mkt
Share
1 Winston & Strawn LLP 2,526.0 5 4 1 505.2 32.2%
2 Ropes & Gray LLP 1,345.0 3 0 3 448.3 17.1%
3 Paul, Weiss, Rifkind, Wharton & Garrison LLP 1,100.0 1 1 0 1,100.0 14.0%
4 Weil, Gotshal & Manges LLP 425.0 1 1 0 425.0 5.4%
5 Greenberg Traurig, LLP 299.0 2 0 2 149.5 3.8%
6 Kirkland & Ellis LLP 295.6 2 0 2 147.8 3.8%
7 Davis Polk & Wardwell LLP 276.0 1 0 1 276.0 3.5%
8 Graubard Miller 241.5 1 1 0 241.5 3.1%
9 Skadden, Arps, Slate, Meagher & Flom LLP 230.0 1 1 0 230.0 2.9%
10 Shearman & Sterling LLP 230.0 1 0 1 230.0 2.9%
11 Ellenoff Grossman & Schole LLP 207.0 2 2 0 103.5 2.6%
12 Loeb & Loeb LLP 192.1 3 2 1 64.0 2.4%
13 Tarter, Krinsky & Drogin LLP 172.5 1 1 0 172.5 2.2%
14 K&L Gates LLP 172.5 1 0 1 172.5 2.2%
15 Schiff Hardin LLP 138.0 1 0 1 138.0 1.8%
FY 2019
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's
Counsel) Deal
Count
(UW's
Counsel) Avg
Size
($mm) %
Mkt
Share
1 EGS 7,305.4 33 21 12 221.4 26.9%
2 Kirkland & Ellis LLP 3,165.9 12 4 8 263.8 11.6%
3 Graubard Miller 3,120.0 15 8 7 208.0 11.5%
4 Ropes & Gray LLP 2,768.8 9 2 7 307.6 10.2%
5 Skadden, Arps, Slate, Meagher & Flom LLP 2,355.0 8 1 7 294.4 8.7%
6 Winston & Strawn LLP 2,234.3 7 4 3 319.2 8.2%
7 Weil, Gotshal & Manges LLP 944.1 3 1 2 314.7 3.5%
8 Paul, Weiss, Rifkind, Wharton & Garrison LLP 940.0 2 2 0 470.0 3.5%
9 Loeb & Loeb LLP 757.9 8 5 3 94.7 2.8%
10 Shearman & Sterling LLP 738.8 3 0 3 246.3 2.7%
11 Greenberg Traurig, LLP 632.5 3 2 1 210.8 2.3%
12 Vinson & Elkins LLP 547.1 2 2 0 273.6 2.0%
13 Ledgewood PC 466.9 2 2 0 233.5 1.7%
14 Davis Polk & Wardwell LLP 330.5 2 2 0 165.3 1.2%
15 Latham & Watkins LLP 230.0 1 1 0 230.0 0.8%
16 Crowell & Moring, LLP 172.5 1 1 0 172.5 0.6%
17 Schiff Hardin LLP 172.5 2 0 2 86.3 0.6%
18 Scarinci & Hollenbeck, LLC 115.0 2 0 2 57.5 0.4%
19 Mayer Brown LLP 100.0 1 0 1 100.0 0.4%
20 Becker & Poliakoff LLP 57.5 1 1 0 57.5 0.2%
21 Hunter Taubman Fischer & Li LLC 46.0 1 0 1 46.0 0.2%
Q4 2019
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's
Counsel) Deal
Count
(UW's
Counsel) Avg
Size
($mm) %
Mkt
Share
1 EGS 1,978.8 10 9 1 197.9 29.3%
2 Graubard Miller 1,066.0 7 3 4 152.3 15.8%
3 Kirkland & Ellis LLP 1,032.0 4 1 3 258.0 15.3%
4 Ropes & Gray LLP 645.0 2 1 1 322.5 9.5%
5 Skadden, Arps, Slate, Meagher & Flom LLP 616.3 2 0 2 308.1 9.1%
6 Winston & Strawn LLP 431.3 2 0 2 215.6 6.4%
7 Loeb & Loeb LLP 380.0 2 0 2 190.0 5.6%
8 Ledgewood PC 316.3 1 1 0 316.3 4.7%
9 Mayer Brown LLP 100.0 1 0 1 100.0 1.5%
10 Davis Polk & Wardwell LLP 80.5 1 1 0 80.5 1.2%
11 Schiff Hardin LLP 57.5 1 0 1 57.5 0.9%
12 Becker & Poliakoff LLP 57.5 1 1 0 57.5 0.9%
Q3 2019
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's
Counsel) Deal
Count
(UW's
Counsel) Avg
Size
($mm) %
Mkt
Share
1 Ellenoff Grossman & Schole LLP 1,957.4 9 4 5 217.5 29.3%
2 Ropes & Gray LLP 1,443.8 5 1 4 288.8 21.6%
3 Kirkland & Ellis LLP 881.3 3 3 0 293.8 13.2%
4 Graubard Miller 752.5 3 2 1 250.8 11.2%
5 Weil, Gotshal & Manges LLP 314.1 1 0 1 314.1 4.7%
6 Vinson & Elkins LLP 314.1 1 1 0 314.1 4.7%
7 Winston & Strawn LLP 253.0 1 1 0 253.0 3.8%
8 Skadden, Arps, Slate, Meagher & Flom LLP 250.0 1 0 1 250.0 3.7%
9 Davis Polk & Wardwell LLP 250.0 1 1 0 250.0 3.7%
10 Shearman & Sterling LLP 172.5 1 0 1 172.5 2.6%
11 Loeb & Loeb LLP 101.9 2 1 1 51.0 1.5%
1H 2019
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's
Counsel) Deal
Count
(UW's
Counsel) Avg
Size
($mm) %
Mkt
Share
1 EGS 3,369.3 14 8 6 240.7 24.8%
2 Skadden, Arps, Slate, Meagher & Flom LLP 1,488.7 5 1 4 297.7 11.0%
3 Winston & Strawn LLP 1,460.0 4 3 1 365.0 10.8%
4 Graubard Miller 1,301.5 5 3 2 260.3 9.6%
5 Kirkland & Ellis LLP 1,252.7 5 0 5 250.5 9.2%
6 Paul, Weiss, Rifkind, Wharton & Garrison LLP 850.0 2 2 0 425.0 6.3%
7 Ropes & Gray LLP 680.0 2 0 2 340.0 5.0%
8 Greenberg Traurig, LLP 632.5 3 2 1 210.8 4.7%
9 Weil, Gotshal & Manges LLP 630.0 2 1 1 315.0 4.6%
10 Shearman & Sterling LLP 566.3 2 0 2 283.1 4.2%
11 Loeb & Loeb LLP 276.0 4 4 0 69.0 2.0%
12 Vinson & Elkins LLP 233.0 1 1 0 233.0 1.7%
13 Latham & Watkins LLP 230.0 1 1 0 230.0 1.7%
14 Crowell & Moring, LLP 172.5 1 1 0 172.5 1.3%
15 Ledgewood PC 150.7 1 1 0 150.7 1.1%
16 Schiff Hardin LLP 115.0 1 0 1 115.0 0.8%
17 Scarinci & Hollenbeck, LLC 115.0 2 0 2 57.5 0.8%
18 Hunter Taubman Fischer & Li LLC 46.0 1 0 1 46.0 0.3%
Q2 2019
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's
Counsel) Deal
Count
(UW's
Counsel) Avg
Size
($mm) %
Mkt
Share
1 Winston & Strawn LLP 1,460.0 4 3 1 365.0 21.3%
2 EGS 1,246.3 5 4 1 249.3 18.1%
3 Kirkland & Ellis LLP 952.5 4 0 4 238.1 13.9%
4 Paul, Weiss, Rifkind, Wharton & Garrison LLP 850.0 2 2 0 425.0 12.4%
5 Graubard Miller 687.5 2 0 2 343.8 10.0%
6 Greenberg Traurig, LLP 460.0 2 1 1 230.0 6.7%
7 Skadden, Arps, Slate, Meagher & Flom LLP 400.0 1 0 1 400.0 5.8%
8 Shearman & Sterling LLP 316.3 1 0 1 316.3 4.6%
9 Crowell & Moring, LLP 172.5 1 1 0 172.5 2.5%
10 Loeb & Loeb LLP 161.0 2 2 0 80.5 2.3%
11 Schiff Hardin LLP 115.0 1 0 1 115.0 1.7%
12 Hunter Taubman Fischer & Li LLC 46.0 1 0 1 46.0 0.7%
Q1 2019
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's
Counsel) Deal
Count
(UW's
Counsel) Avg
Size
($mm) %
Mkt
Share
1 Ellenoff Grossman & Schole LLP 2,078.3 9 4 5 230.9 31.5%
2 Skadden, Arps, Slate, Meagher & Flom LLP 1,083.2 4 1 3 270.8 16.4%
3 Ropes & Gray LLP 680.0 2 0 2 340.0 10.3%
4 Weil, Gotshal & Manges LLP 630.0 2 1 1 315.0 9.6%
5 Graubard Miller 614.0 3 3 0 204.7 9.3%
6 Kirkland & Ellis LLP 261.0 1 0 1 261.0 4.0%
7 Shearman & Sterling LLP 250.0 1 0 1 250.0 3.8%
8 Vinson & Elkins LLP 233.0 1 1 0 233.0 3.5%
9 Latham & Watkins LLP 230.0 1 1 0 230.0 3.5%
10 Greenberg Traurig, LLP 172.5 1 1 0 172.5 2.6%
11 Ledgewood PC 150.7 1 1 0 150.7 2.3%
12 Loeb & Loeb LLP 107.5 2 2 0 53.8 1.6%
13 Scarinci & Hollenbeck, LLC 107.5 2 0 2 53.8 1.6%
FY 2018
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's
Counsel) Deal
Count
(UW's
Counsel) Avg
Size
($mm) %
Mkt
Share
1 EGS 4,467.3 22 16 6 203.1 20.8%
2 Skadden, Arps, Slate, Meagher & Flom LLP 3,216.8 10 1 9 321.7 15.0%
3 Winston & Strawn LLP 2,394.3 7 4 3 342.0 11.1%
4 Graubard Miller 2,261.5 15 5 10 150.8 10.5%
5 Greenberg Traurig, LLP 1,394.7 7 5 2 199.2 6.5%
6 Freshfields Bruckhaus Deringer US LLP 1,252.5 3 0 3 417.5 5.8%
7 Kirkland 1,145.8 4 2 2 286.4 5.3%
8 Davis Polk & Wardwell LLP 740.0 2 1 1 370.0 3.4%
9 Paul, Weiss, Rifkind, Wharton & Garrison LLP 690.0 1 1 0 690.0 3.2%
10 Loeb & Loeb LLP 579.4 7 3 4 82.8 2.7%
11 Vinson & Elkins 552.0 1 1 0 552.0 2.6%
12 Thompson & Knight LLP 414.0 1 1 0 414.0 1.9%
13 Ropes & Gray 400.0 1 0 1 400.0 1.9%
14 Weil Gotshal 400.0 1 1 0 400.0 1.9%
15 Gibson, Dunn & Crutcher LLP 345.0 1 1 0 345.0 1.6%
16 Ledgewood 345.0 1 1 0 345.0 1.6%
17 McDermott Will & Emery 201.3 1 0 1 201.3 0.9%
18 Venable LLP 155.3 1 1 0 155.3 0.7%
19 Schiff Hardin LLP 133.3 2 0 2 66.6 0.6%
20 Fox Rothschild LLP 125.0 1 1 0 125.0 0.6%
21 Holland & Knight, LLP 115.0 1 0 1 115.0 0.5%
22 White and Williams LLP 114.9 1 1 0 114.9 0.5%
23 Hunter Taubman Fischer & Li LLC 46.0 1 0 1 46.0 0.2%
Q4 2018
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's
Counsel) Deal
Count
(UW's
Counsel) Avg
Size
($mm) %
Mkt
Share
1 EGS 1,060.5 4 3 1 265.1 21.0%
2 Skadden, Arps, Slate, Meagher & Flom LLP 839.3 4 0 4 209.8 16.6%
3 Graubard Miller 712.7 5 1 4 142.5 14.1%
4 Winston & Strawn LLP 683.8 2 2 0 341.9 13.6%
5 Davis Polk & Wardwell LLP 440.0 1 0 1 440.0 8.7%
6 Greenberg Traurig, LLP 385.7 3 3 0 128.6 7.6%
7 Ledgewood 345.0 1 1 0 345.0 6.8%
8 Loeb & Loeb LLP 184.9 2 1 1 92.4 3.7%
9 Kirkland & Ellis LLP 143.8 1 1 0 143.8 2.9%
10 Schiff Hardin LLP 133.3 2 0 2 66.6 2.6%
11 White and Williams LLP 114.9 1 1 0 114.9 2.3%
Q3 2018
Rank Law Firm Volume ($mm) Deal Count (Total) Deal Count (Issuer's Counsel) Deal Count (UW's Counsel) Avg. Size Mkt Share (%)
1 Ellenoff Grossman & Schole LLP 916.0 7 6 1 130.9 17.6%
2 Winston & Strawn LLP 890.0 2 0 2 445.0 17.1%
3 Paul, Weiss, Rifkind, Wharton & Garrison LLP 690.0 1 1 0 690.0 13.2%
4 Graubard Miller 568.8 3 1 2 189.6 10.9%
5 Vinson & Elkins LLP 552.0 1 1 0 552.0 10.6%
6 Kirkland & Ellis LLP 552.0 1 0 1 552.0 10.6%
7 Ropes & Gray LLP 400.0 1 0 1 400.0 7.7%
8 Weil, Gotshal & Manges LLP 400.0 1 1 0 400.0 7.7%
9 Loeb & Loeb LLP 193.3 4 1 3 48.3 3.7%
10 Hunter Taubman Fischer & Li LLC 46.0 1 0 1 46.0 0.9%
1H 2018
Rank Law Firm Volume ($mm) Deal Count (Total) Deal Count (Issuer's Counsel) Deal Count (UW's Counsel) Avg Size ($mm) % Mkt Share
1 Ellenoff Grossman & Schole LLP 2,485.8 11 8 3 226.0 22.3%
2 Skadden, Arps, Slate, Meagher & Flom LLP 2,377.5 6 1 5 396.3 21.3%
3 Freshfields Bruckhaus Deringer US LLP 1,215.0 3 0 3 405.0 10.9%
4 Greenberg Traurig, LLP 1,009.0 4 2 2 252.3 9.0%
5 Graubard Miller 975.0 7 2 5 139.3 8.7%
6 Winston & Strawn LLP 783.0 3 2 1 261.0 7.0%
7 Kirkland & Ellis LLP 450.0 2 1 1 225.0 4.0%
8 Thompson & Knight LLP 414.0 1 1 0 414.0 3.7%
9 Gibson, Dunn & Crutcher LLP 345.0 1 1 0 345.0 3.1%
10 Davis Polk & Wardwell LLP 300.0 1 1 0 300.0 2.7%
11 McDermott Will & Emery 201.3 1 0 1 201.3 1.8%
12 Loeb & Loeb LLP 201.3 1 1 0 201.3 1.8%
13 Venable 155.3 1 1 0 155.3 1.4%
14 Fox Rothschild LLP 125.0 1 1 0 125.0 1.1%
15 Holland & Knight, LLP 115.0 1 0 1 115.0 1.0%
Q2 2018
Rank Law Firm Volume ($mm) Deal Count (Total) Deal Count (Issuer's Counsel) Deal Count (UW's Counsel) Avg. Size Mkt Share (%)
1 Ellenoff Grossman & Schole LLP 1,647.8 6 4 2 274.6 24.0%
2 Skadden, Arps, Slate, Meagher & Flom LLP 1,552.5 3 1 2 517.5 22.6%
3 Freshfields Bruckhaus Deringer US LLP 940.0 2 0 2 470.0 13.7%
4 Greenberg Traurig, LLP 644.0 2 1 1 322.0 9.4%
5 Graubard Miller 515.0 3 0 3 171.7 7.5%
6 Thompson & Knight LLP 414.0 1 1 0 414.0 6.0%
7 Gibson, Dunn & Crutcher LLP 345.0 1 1 0 345.0 5.0%
8 Graubard Miller 257.0 2 0 2 128.5 3.7%
9 Winston & Strawn LLP 250.0 1 1 0 250.0 3.6%
10 McDermott Will & Emery 201.3 1 0 1 201.3 2.9%
11 Loeb & Loeb LLP 201.3 1 1 0 201.3 2.9%
12 Venable LLP 155.3 1 1 0 155.3 2.3%
Q1 2018
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's Counsel) Deal
Count
(UW's Counsel) Avg. Size
($mm) Market
Share
(%)
1 Ellenoff Grossman & Schole LLP 838.0 5 4 1 167.6 19.6
2 Skadden, Arps, Slate, Meagher & Flom LLP 825.0 3 0 3 275.0
19.3
3 Winston & Strawn LLP 533.0
2 1 1 266.5 12.5
4 Graubard Miller 456.5 4 2 2 114.1 10.7
5 Kirkland & Ellis LLP 450.0 2 1 1 225.0 10.5
6 Greenberg Traurig, LLP 365.0 2 1 1 182.5 8.5
7 Davis Polk & Wardwell LLP 300.0 1 1 0 300.0 7.0
8 Freshfields Bruckhaus Deringer US LLP 275.0 1 0 1 275.0 6.4
9 Fox Rothschild LLP 125.0 1 1 0 125.0 2.9
10 Holland & Knight, LLP 111.5 1 0 1 111.5 2.6
2017
Rank Law Firm Volume
($mm) Deal
Count
(Total) Deal
Count
(Issuer's Counsel) Deal
Count
(UW's Counsel) Avg. Size
($mm) Market
Share
(%)
1 Weil, Gotshal & Manges LLP 3,892.0 7 5 2 556.0 19.7
2 Ellenoff Grossman & Schole LLP 2,763.9
13 11 2 212.6
14.0
3 Skadden, Arps, Slate, Meagher & Flom LLP 2,475.4
8 1 7 309.4 12.5
4 Vinson & Elkins LLP 1,932.0 3 2 1 644.0 9.8
5 Graubard Miller 1,746.7 9 2 7 194.1 8.8
6 Freshfields Bruckhaus Deringer US LLP 1,675.0 4 0 4 418.8 8.5
7 Greenberg Traurig, LLP 799.0 4 1 3 199.8 4.0
8 Shearman & Sterling LLP 690.0 1 0 1 690.0 3.5
9 Winston & Strawn LLP 607.3 2 1 1 303.7 3.1
10 Loeb & Loeb LLP 531.8 4 2 2 133.0 2.7
11 Akin Gump Strauss Hauer & Feld LLP 460.0 1 0 1 460.0 2.3
12 Ledgewood 450.0 2 2 0 225.0 2.3
13 Davis Polk & Wardwell LLP 402.5 1 0 1 402.5 2.0
14 Paul, Weiss, Rifkind, Wharton & Garrison LLP 345.0 1 1 0 345.0 1.7
15 Kirkland & Ellis LLP 300.0 1 1 0 300.0 1.5
16 Jones Day 207.0 1 1 0 207.0 1.0
17 Proskauer Rose LLP 200.0 1 1 0 200.0 1.0
18 Crowell & Moring LLP 143.5 1 1 0 143.5 0.7
19 Akerman LLP 69.0 1 1 0 69.0 0.3
20 Hunter Taubman Fischer & Li LLC 60.4 1 1 0 60.4 0.3
21 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. 44.3 1 0 1 44.3 0.2
YTD 2020
Rank Auditor Volume
($mm) Deal
Count
(Total) Avg
Size
($mm) %
Mkt
Share
1 WithumSmith+Brown, PC 25,172.4 69 364.8 57.5%
2 Marcum LLP 15,715.4 38 413.6 35.9%
3 KPMG LLP 950.0 2 475.0 2.2%
4 Pricewaterhousecoopers LLP 750.0 1 750.0 1.7%
5 Frank, Rimerman + Co. LLP 402.5 1 402.5 0.9%
6 Grant Thornton LP 230.0 1 230.0 0.5%
7 Plante & Moran, PLLC 225.0 1 225.0 0.5%
8 BPM LLP 200.0 1 200.0 0.5%
9 Prager Metis CPAs LLC 100.0 1 100.0 0.2%
10 Marcum Bernstein & Pinchuk LLP 57.5 1 57.5 0.1%
Q3 2020
Rank Auditor Volume
($mm) Deal
Count
(Total) Avg
Size
($mm) %
Mkt
Share
1 WithumSmith+Brown, PC 19,540.8 53 368.7 61.0%
2 Marcum LLP 11,026.7 22 501.2 34.4%
3 KPMG LLP 525.0 1 525.0 1.6%
4 Frank, Rimerman + Co. LLP 402.5 1 402.5 1.3%
5 Grant Thornton LP 230.0 1 230.0 0.7%
6 Plante & Moran, PLLC 225.0 1 225.0 0.7%
7 Prager Metis CPAs LLC 100.0 1 100.0 0.3%
1H 2020
Rank Auditor Volume
($mm) Deal
Count
(Total) Avg
Size
($mm) %
Mkt
Share
1 WithumSmith+Brown, PC 5,631.6 16 352.0 48.1%
2 Marcum LLP 4,688.7 16 293.0 40.1%
3 Pricewaterhousecoopers LLP 700.0 1 700.0 6.0%
4 KPMG LLP 425.0 1 425.0 3.6%
5 BPM LLP 200.0 1 200.0 1.7%
6 Marcum Bernstein & Pinchuk LLP 57.5 1 57.5 0.5%
Q2 2020
Rank Auditor Volume
($mm) Deal
Count
(Total) Avg
Size
($mm) %
Mkt
Share
1 WithumSmith+Brown, PC 3,933.0 9 437.0 50.6%
2 Marcum LLP 2,944.7 12 245.4 37.9%
3 Pricewaterhousecoopers LLP 700.0 1 700.0 9.0%
4 BPM LLP 200.0 1 200.0 2.6%
Q1 2020
Rank Auditor Volume
($mm) Deal
Count
(Total) Avg
Size
($mm) %
Mkt
Share
1 Marcum LLP 1,744.0 4 436.0 44.4%
2 WithumSmith+Brown, PC 1,698.6 7 242.7 43.3%
3 KPMG LLP 425.0 1 425.0 10.8%
4 Marcum Bernstein & Pinchuk LLP 57.5 1 57.5 1.5%
FY 2019
Rank Auditor Volume
($mm) Deal
Count
(Total) Avg
Size
($mm) %
Mkt
Share
1 Marcum LLP 6,648.8 29 229.3 48.9%
2 WithumSmith+Brown, PC 5,164.6 21 245.9 38.0%
3 Grant Thornton LP 984.4 4 246.1 7.2%
4 KPMG LLP 400.0 1 400.0 2.9%
5 BPM LLP 172.5 1 172.5 1.3%
6 Malone Bailey LLP 115.0 1 115.0 0.8%
7 RBSM LLP 57.5 1 57.5 0.4%
8 UHY LLP 57.5 1 57.5 0.4%
Q4 2019
Rank Auditor Volume
($mm) Deal
Count
(Total) Avg
Size
($mm) %
Mkt
Share
1 Marcum LLP 1,788.8 9 198.8 52.9%
2 WithumSmith+Brown, PC 1,333.0 7 190.4 39.4%
3 Grant Thornton LP 258.8 1 258.8 7.7%
Financial Advisor YTD 2020
| Rank | Advisor | Value ($mm) | Value % Mkt Share | Total Deal Count | Deal Count (Buy Side) | Deal Count (Sell Side) | Average Deal Size |
|---|---|---|---|---|---|---|---|
| 1 | Morgan Stanley | 29,662.0 | 9.0% | 7 | 4 | 3 | 4237.4 |
| 2 | Deutsche Bank | 27,623.0 | 8.4% | 6 | 5 | 1 | 4603.8 |
| 3 | Citigroup | 26,101.0 | 7.9% | 7 | 5 | 2 | 3728.7 |
| 4 | Moelis | 18,952.0 | 5.8% | 2 | 2 | 0 | 9476.0 |
| 5 | BofA | 16,946.0 | 5.2% | 4 | 0 | 4 | 4236.5 |
| 6 | Centerview | 16,338.0 | 5.0% | 2 | 1 | 1 | 8169.0 |
| 7 | Jefferies | 15,243.0 | 4.6% | 10 | 6 | 4 | 1524.3 |
| 8 | UBS | 14,438.0 | 4.4% | 2 | 1 | 1 | 7219.0 |
| 9 | Barclays | 13,062.0 | 4.0% | 3 | 1 | 2 | 4354.0 |
| 10 | Credit Suisse | 9,641.0 | 2.9% | 5 | 2 | 3 | 1928.2 |
| 11 | Connaught | 8,470.0 | 2.6% | 2 | 2 | 0 | 4235.0 |
| 12 | J.P. Morgan | 8,015.0 | 2.4% | 4 | 0 | 4 | 2003.8 |
| 13 | Stifel | 5,771.0 | 1.8% | 4 | 3 | 1 | 1442.8 |
| 14 | LionTree | 4,257.0 | 1.3% | 2 | 0 | 2 | 2128.5 |
| 15 | BTIG | 4,242.0 | 1.3% | 3 | 2 | 1 | 1414.0 |
| 16 | Cowen | 4,023.7 | 1.2% | 4 | 1 | 3 | 1005.9 |
| 17 | BMO | 3,319.0 | 1.0% | 2 | 1 | 1 | 1659.5 |
| 18 | Baird | 3,300.0 | 1.0% | 1 | 1 | 0 | 3300.0 |
| 19 | Cantor | 3,254.0 | 1.0% | 3 | 2 | 1 | 1084.7 |
| 20 | Oakvale | 3,200.0 | 1.0% | 2 | 1 | 1 | 1600.0 |
| 21 | Evercore | 3,050.0 | 0.9% | 3 | 0 | 3 | 1016.7 |
| 22 | Nomura | 2,993.0 | 0.9% | 2 | 2 | 0 | 1496.5 |
| 23 | GCA | 2,900.0 | 0.9% | 1 | 0 | 1 | 2900.0 |
| 24 | Lazard | 2,803.0 | 0.9% | 2 | 0 | 2 | 1401.5 |
| 25 | Raymond James | 2,770.5 | 0.8% | 3 | 1 | 2 | 923.5 |
| 26 | RBC | 2,363.0 | 0.7% | 2 | 1 | 1 | 1181.5 |
| 27 | Klein Group | 2,175.0 | 0.7% | 1 | 1 | 0 | 2175.0 |
| 28 | Houlihan Lokey | 1,825.0 | 0.6% | 2 | 0 | 2 | 912.5 |
| 29 | Canaccord Genuity | 1,673.1 | 0.5% | 3 | 1 | 2 | 557.7 |
| 30 | Oppenheimer | 1,566.0 | 0.5% | 1 | 1 | 0 | 1566.0 |
| 31 | B. Riley Securities | 1,511.5 | 0.5% | 3 | 3 | 0 | 503.8 |
| 32 | Wedbush | 1,319.0 | 0.4% | 1 | 0 | 1 | 1319.0 |
| 33 | Chardan | 1,307.5 | 0.4% | 3 | 3 | 0 | 435.8 |
| 34 | William Blair | 1,300.0 | 0.4% | 1 | 0 | 1 | 1300.0 |
| 35 | Tyton | 1,300.0 | 0.4% | 1 | 1 | 0 | 1300.0 |
| 36 | Marathon | 1,097.0 | 0.3% | 1 | 0 | 1 | 1097.0 |
| 37 | Murray Devine | 1,044.0 | 0.3% | 1 | 0 | 1 | 1044.0 |
| 38 | Earlybird | 880.0 | 0.3% | 3 | 3 | 0 | 293.3 |
| 39 | Wells Fargo | 747.0 | 0.2% | 2 | 1 | 1 | 373.5 |
| 40 | MTS Health Partners | 721.0 | 0.2% | 1 | 1 | 0 | 721.0 |
| 41 | Rothschild | 630.5 | 0.2% | 1 | 0 | 1 | 630.5 |
| 42 | Guggenheim | 550.0 | 0.2% | 1 | 0 | 1 | 550.0 |
| 43 | Northland | 523.0 | 0.2% | 1 | 0 | 1 | 523.0 |
| 44 | FT Partners | 523.0 | 0.2% | 1 | 0 | 1 | 523.0 |
| 45 | Harrison Co. | 482.0 | 0.2% | 1 | 0 | 1 | 482.0 |
| 46 | Roth Capital | 413.3 | 0.1% | 1 | 1 | 0 | 413.3 |
| 47 | Craig-Hallum | 413.3 | 0.1% | 1 | 1 | 0 | 413.3 |
| 48 | Three Keys | 233.0 | 0.1% | 1 | 0 | 1 | 233.0 |
| 49 | I-Bankers | 150.0 | 0.1% | 1 | 1 | 0 | 150.0 |
| 50 | Colliers | 150.0 | 0.1% | 1 | 0 | 1 | 150.0 |
| 51 | Benchmark | 150.0 | 0.1% | 1 | 0 | 1 | 150.0 |
| 52 | Maxim | 84.8 | 0.0% | 1 | 1 | 0 | 84.8 |
Capital Markets Advisor YTD 2020
| Rank | Advisor | Value ($mm) | Value % Mkt Share | Total Deal Count | Deal Count (Buy Side) | Deal Count (Sell Side) | Average Deal Size |
|---|---|---|---|---|---|---|---|
| 1 | Credit Suisse | 28,451.0 | 20.0% | 8 | 7 | 1 | 3,556.4 |
| 2 | Deutsche Bank | 23,388.0 | 16.5% | 6 | 5 | 1 | 3,898.0 |
| 3 | Morgan Stanley | 19,424.4 | 13.7% | 4 | 2 | 2 | 4,856.1 |
| 4 | Citigroup | 18,133.0 | 12.8% | 4 | 3 | 1 | 4,533.3 |
| 5 | Cantor | 9,032.0 | 6.4% | 8 | 7 | 1 | 1,129.0 |
| 6 | Jefferies | 6,342.0 | 4.5% | 8 | 7 | 1 | 792.8 |
| 7 | Oppenheimer | 3,967.0 | 2.8% | 2 | 1 | 1 | 1,983.5 |
| 8 | Stifel | 3,584.1 | 2.5% | 5 | 3 | 2 | 716.8 |
| 9 | Goldman Sachs | 3,417.4 | 2.4% | 2 | 2 | 0 | 1,708.7 |
| 10 | Evercore | 3,347.4 | 2.4% | 3 | 0 | 3 | 1,115.8 |
| 11 | BTIG | 2,923.0 | 2.1% | 2 | 2 | 0 | 1,461.5 |
| 12 | Raymond James | 2,000.0 | 1.4% | 1 | 0 | 1 | 2,000.0 |
| 13 | Nomura | 2,000.0 | 1.4% | 1 | 1 | 0 | 2,000.0 |
| 14 | BMO | 2,000.0 | 1.4% | 1 | 1 | 0 | 2,000.0 |
| 15 | Oakvale | 1,800.0 | 1.3% | 1 | 1 | 0 | 1,800.0 |
| 16 | Northland | 1,715.9 | 1.2% | 2 | 1 | 1 | 858.0 |
| 17 | Earlybird | 1,566.0 | 1.1% | 1 | 1 | 0 | 1,566.0 |
| 18 | Barclays | 1,457.5 | 1.0% | 2 | 0 | 2 | 728.8 |
| 19 | J.P. Morgan | 1,293.0 | 0.9% | 1 | 0 | 1 | 1,293.0 |
| 20 | William Blair | 1,242.9 | 0.9% | 2 | 1 | 1 | 621.5 |
| 21 | PJT | 1,087.0 | 0.8% | 1 | 1 | 0 | 1,087.0 |
| 22 | RBC | 1,044.0 | 0.7% | 1 | 1 | 0 | 1,044.0 |
| 23 | BofA | 845.0 | 0.6% | 1 | 1 | 0 | 845.0 |
| 24 | Wells Fargo | 747.0 | 0.5% | 2 | 1 | 1 | 373.5 |
| 25 | B. Riley Securities | 674.1 | 0.5% | 1 | 1 | 0 | 674.1 |
| 26 | Cowen | 549.7 | 0.4% | 1 | 1 | 0 | 549.7 |
| 27 | Chardan | 140.0 | 0.1% | 1 | 1 | 0 | 140.0 |
Legal Advisor YTD 2020
| Rank | Law Firm | Value ($mm) | % Mkt Share | Avg Size ($mm) | Deal Count (Total) | Buy Side Count | Buy Side Value ($mm) | Sell Side Count | Sell Side Value ($mm) |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Weil, Gotshal & Manges LLP | 32,656.0 | 17.2% | 5,442.7 | 6 | 4 | 28,955.0 | 2 | 3,701.0 |
| 2 | Kirkland & Ellis LLP | 24,481.9 | 12.9% | 2,448.2 | 10 | 6 | 9,701.4 | 4 | 14,780.5 |
| 3 | Latham & Watkins LLP | 14,972.0 | 7.9% | 2,994.4 | 5 | 1 | 993.0 | 4 | 13,979.0 |
| 4 | Simpson Thacher & Bartlett | 12,182.0 | 6.4% | 6,091.0 | 2 | 2 | 12,182.0 | ||
| 5 | Orrick Herrington & Sutcliffe LLP | 10,423.0 | 5.5% | 2,084.6 | 5 | 5 | 10,423.0 | ||
| 6 | Skadden, Arps, Slate, Meagher & Flom LLP | 9,315.0 | 4.9% | 3,105.0 | 3 | 3 | 9,315.0 | ||
| 7 | White & Case LLP | 7,992.1 | 4.2% | 1,332.0 | 6 | 6 | 7,992.1 | ||
| 8 | Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP | 5,567.0 | 2.9% | 1,855.7 | 3 | 3 | 5,567.0 | ||
| 9 | Ellenoff Grossman & Schole LLP | 5,478.8 | 2.9% | 913.1 | 6 | 6 | 5,478.8 | ||
| 10 | Hughes Hubbard & Reed LLP | 5,475.0 | 2.9% | 2,737.5 | 2 | 2 | 5,475.0 | ||
| 11 | Vinson & Elkins LLP | 5,398.0 | 2.9% | 1,799.3 | 3 | 3 | 5,398.0 | ||
| 12 | Greenberg Traurig, LLP | 4,055.0 | 2.1% | 1,013.8 | 4 | 2 | 2,055.0 | 2 | 2,000.0 |
| 13 | Winston & Strawn LLP | 3,813.1 | 2.0% | 1,271.0 | 3 | 2 | 1,156.1 | 1 | 2,657.0 |
| 14 | Cooley LLP | 3,487.7 | 1.8% | 1,162.6 | 3 | 3 | 3,487.7 | ||
| 15 | Sidley Austin | 3,408.0 | 1.8% | 1,136.0 | 3 | 1 | 1,841.0 | 2 | 1,567.0 |
| 16 | Wilson Sonsini Goodrich & Rosati | 3,300.0 | 1.7% | 3,300.0 | 1 | 1 | 3,300.0 | ||
| 17 | Paul, Weiss, Rifkind, Wharton & Garrison LLP | 3,136.0 | 1.7% | 1,568.0 | 2 | 2 | 3,136.0 | ||
| 18 | Gotshal & Manges, LLP | 2,900.0 | 1.5% | 2,900.0 | 1 | 1 | 2,900.0 | ||
| 18 | DLA Piper | 2,331.1 | 1.2% | 1,165.6 | 2 | 2 | 2,331.1 | ||
| 20 | S. Friedman & Co. | 2,000.0 | 1.1% | 2,000.0 | 1 | 1 | 2,000.0 | ||
| 21 | Gornitzky | 2,000.0 | 1.1% | 2,000.0 | 1 | 1 | 2,000.0 | ||
| 22 | Loeb & Loeb LLP | 1,863.8 | 1.0% | 466.0 | 4 | 4 | 1,863.8 | ||
| 23 | Cleary Gottlieb Steen & Hamilton LLP | 1,800.0 | 1.0% | 1,800.0 | 1 | 1 | 1,800.0 | ||
| 24 | Gibson, Dunn & Crutcher LLP | 1,475.5 | 0.8% | 737.8 | 2 | 2 | 1,475.5 | ||
| 25 | Ledgewood PC | 1,300.0 | 0.7% | 1,300.0 | 1 | 1 | 1,300.0 | ||
| 26 | Wick Phillips LLP | 1,097.0 | 0.6% | 1,097.0 | 1 | 1 | 1,097.0 | ||
| 27 | Morrison Foerster LLP | 1,087.0 | 0.6% | 1,087.0 | 1 | 1 | 1,087.0 | ||
| 27 | Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. | 1,087.0 | 0.6% | 1,087.0 | 1 | 1 | 1,087.0 | ||
| 27 | Graubard Miller | 1,087.0 | 0.6% | 1,087.0 | 1 | 1 | 1,087.0 | ||
| 30 | Paul Hastings LLP | 993.0 | 0.5% | 993.0 | 1 | 1 | 993.0 | ||
| 30 | Sullivan & Cromwell LLP | 965.0 | 0.5% | 965.0 | 1 | 1 | 965.0 | ||
| 32 | BakerHostetler | 965.0 | 0.5% | 965.0 | 1 | 1 | 965.0 | ||
| 33 | Goodwin Procter LLP | 847.4 | 0.4% | 847.4 | 1 | 1 | 847.4 | ||
| 34 | Davis Polk & Wardwell LLP | 765.0 | 0.4% | 765.0 | 1 | 1 | 765.0 | ||
| 35 | Haynes and Boone LLP | 745.0 | 0.4% | 745.0 | 1 | 1 | 745.0 | ||
| 36 | Millbank | 674.1 | 0.4% | 674.1 | 1 | 1 | 674.1 | ||
| 37 | Dechert LLP | 630.5 | 0.3% | 630.5 | 1 | 1 | 630.5 | ||
| 38 | Morrison Cohen LLP | 550.0 | 0.3% | 550.0 | 1 | 1 | 550.0 | ||
| 39 | Blank Rome | 549.7 | 0.3% | 549.7 | 1 | 1 | 549.7 | ||
| 40 | Stoel Rives LLP | 542.5 | 0.3% | 542.5 | 1 | 1 | 542.5 | ||
| 40 | Mayer Brown LLP | 525.0 | 0.3% | 525.0 | 1 | 1 | 525.0 | ||
| 42 | Kane Kessler, PC | 525.0 | 0.3% | 525.0 | 1 | 1 | 525.0 | ||
| 42 | Rutan & Tucker | 482.0 | 0.3% | 482.0 | 1 | 1 | 482.0 | ||
| 44 | Morgan, Lewis & Blockius | 415.9 | 0.2% | 415.9 | 1 | 1 | 415.9 | ||
| 45 | Jenner & Block | 415.9 | 0.2% | 415.9 | 1 | 1 | 415.9 | ||
| 45 | Jones Day | 413.3 | 0.2% | 413.3 | 1 | 1 | 413.3 | ||
| 45 | Ropes & Gray LLP | 358.0 | 0.2% | 358.0 | 1 | 1 | 358.0 | ||
| 45 | Graydon Head & Ritchey LLP | 331.1 | 0.2% | 331.1 | 1 | 1 | 331.1 | ||
| 49 | Faegre Drinker Biddle & Reath LLP | 331.1 | 0.2% | 331.1 | 1 | 1 | 331.1 | ||
| 49 | Arnold & Porter | 331.0 | 0.2% | 331.0 | 1 | 1 | 331.0 | ||
| 51 | Stikeman Elliott and Posse Herrera Ruiz | 255.0 | 0.1% | 255.0 | 1 | 1 | 255.0 | ||
| 52 | Freshfields Bruckhaus Deringer US LLP | 255.0 | 0.1% | 255.0 | 1 | 1 | 255.0 | ||
| 52 | Dentons Canada LLP | 255.0 | 0.1% | 255.0 | 1 | 1 | 255.0 | ||
| 54 | Brigard & Urrutia Abogados SAS | 255.0 | 0.1% | 255.0 | 1 | 1 | 255.0 | ||
| 55 | Dickinson Wright PLLC | 150.0 | 0.1% | 150.0 | 1 | 1 | 150.0 | ||
| 56 | Becker & Poliakoff LLP | 150.0 | 0.1% | 150.0 | 1 | 1 | 150.0 | ||
| 57 | Shumaker, Loop & Kendrick LLP | 143.0 | 0.1% | 143.0 | 1 | 1 | 143.0 | ||
| 58 | Stradley Ronon Steven & Young, LLP | 140.0 | 0.1% | 140.0 | 1 | 1 | 140.0 | ||
| 59 | Nelson Mullins Riley and Scarborough | 140.0 | 0.1% | 140.0 | 1 | 1 | 140.0 | ||
| 60 | Lowenstein Sandler LLP | 84.8 | 0.0% | 84.8 | 1 | 1 | 84.8 |
YTD 2020
| Rank | Underwriter | Volume ($mm) | Volume % Mkt Share | Volume Sold ($mm) | Volume Sold % Mkt Share | Deal Count | Average Deal Size |
|---|---|---|---|---|---|---|---|
| 1 | Citigroup | 14,982.5 | 18.0% | 5,165.1 | 14.6% | 21 | 5165.1 |
| 2 | Credit Suisse | 10,712.6 | 12.9% | 6,679.0 | 18.9% | 19 | 6679.0 |
| 3 | Goldman Sachs | 9,787.6 | 11.8% | 4,571.8 | 13.0% | 18 | 4571.8 |
| 4 | UBS | 8,400.8 | 10.1% | 2,905.0 | 8.2% | 16 | 2905.0 |
| 5 | Jefferies | 6,192.9 | 7.4% | 2,216.0 | 6.3% | 11 | 2216.0 |
| 6 | BofA | 5,128.5 | 6.2% | 1,748.0 | 5.0% | 10 | 1748.0 |
| 7 | Deutsche Bank | 4,947.7 | 5.9% | 2,331.6 | 6.6% | 13 | 2331.6 |
| 8 | Morgan Stanley | 4,423.0 | 5.3% | 1,359.3 | 3.9% | 8 | 1359.3 |
| 9 | J.P. Morgan | 4,306.5 | 5.2% | 1,498.2 | 4.2% | 6 | 1498.2 |
| 10 | Cantor | 3,344.7 | 4.0% | 2,226.7 | 6.3% | 10 | 2226.7 |
| 11 | Barclays | 1,612.5 | 1.9% | 618.2 | 1.8% | 6 | 618.2 |
| 12 | Cowen | 1,153.8 | 1.4% | 420.7 | 1.2% | 4 | 420.7 |
| 13 | Stifel | 982.5 | 1.2% | 268.7 | 0.8% | 4 | 268.7 |
| 14 | RBC | 889.0 | 1.1% | 175.0 | 0.5% | 2 | 175.0 |
| 15 | BTIG | 794.8 | 1.0% | 404.4 | 1.1% | 4 | 404.4 |
| 16 | Odeon Capital Group, LLC | 719.0 | 0.9% | 123.0 | 0.3% | 2 | 123.0 |
| 17 | Earlybird | 701.0 | 0.8% | 366.0 | 1.0% | 4 | 366.0 |
| 18 | Chardan | 541.9 | 0.7% | 426.5 | 1.2% | 6 | 426.5 |
| 19 | Nomura | 430.0 | 0.5% | 212.0 | 0.6% | 2 | 212.0 |
| 20 | Evercore ISI | 414.0 | 0.5% | 334.8 | 0.9% | 1 | 334.8 |
| 21 | Northland | 330.0 | 0.4% | 50.0 | 0.1% | 2 | 50.0 |
| 22 | Raymond James | 319.5 | 0.4% | 150.0 | 0.4% | 1 | 150.0 |
| 23 | Oppenheimer | 300.0 | 0.4% | 148.0 | 0.4% | 2 | 148.0 |
| 24 | I-Bankers | 238.0 | 0.3% | 106.0 | 0.3% | 2 | 106.0 |
| 25 | Piper Sandler | 225.0 | 0.3% | 20.3 | 0.1% | 1 | 20.3 |
| 26 | ThinkEquity | 225.0 | 0.3% | 22.5 | 0.1% | 1 | 22.5 |
| 27 | Baird | 200.0 | 0.2% | 20.0 | 0.1% | 1 | 20.0 |
| 28 | B. Riley FBR | 175.0 | 0.2% | 175.0 | 0.5% | 1 | 175.0 |
| 29 | Imperial | 172.5 | 0.2% | 120.0 | 0.3% | 1 | 120.0 |
| 30 | Leerink Partners | 166.8 | 0.2% | 145.0 | 0.4% | 1 | 145.0 |
| 31 | Maxim | 144.0 | 0.2% | 135.0 | 0.4% | 2 | 135.0 |
| 32 | Craig-Hallum | 76.5 | 0.1% | 37.5 | 0.1% | 1 | 37.5 |
| 33 | Roth Capital Partners | 76.5 | 0.1% | 37.5 | 0.1% | 1 | 37.5 |
| 34 | Ladenburg | 40.0 | 0.0% | 40.0 | 0.1% | 1 | 40.0 |
| 35 | Brookline | 40.0 | 0.0% | 0.0 | 0.0% | 1 | 0.0 |
Q3 2020
| Rank | Underwriter | Volume ($mm) | Volume % Mkt Share | Volume Sold ($mm) | Volume Sold % Mkt Share | Deal Count | Average Deal Size |
|---|---|---|---|---|---|---|---|
| 1 | Citigroup | 11,728.5 | 19.1% | 3,781.1 | 15.1% | 16 | 733.0 |
| 2 | UBS | 6,926.8 | 11.3% | 2,451.0 | 9.8% | 11 | 629.7 |
| 3 | Credit Suisse | 6,722.1 | 10.9% | 4,059.5 | 16.2% | 12 | 560.2 |
| 4 | Goldman Sachs | 6,473.6 | 10.5% | 2,971.8 | 11.8% | 12 | 539.5 |
| 5 | Jefferies | 5,632.9 | 9.2% | 1,935.0 | 7.7% | 8 | 704.1 |
| 6 | J.P. Morgan | 3,892.5 | 6.3% | 1,345.2 | 5.4% | 5 | 778.5 |
| 7 | Deutsche Bank | 3,257.7 | 5.3% | 1,578.6 | 6.3% | 9 | 362.0 |
| 8 | BofA | 3,162.0 | 5.1% | 1,014.5 | 4.0% | 7 | 451.7 |
| 9 | Morgan Stanley | 2,963.0 | 4.8% | 1,085.3 | 4.3% | 5 | 592.6 |
| 10 | Cantor | 2,889.7 | 4.7% | 1,830.7 | 7.3% | 8 | 361.2 |
| 11 | Barclays | 1,612.5 | 2.6% | 618.2 | 2.5% | 6 | 268.8 |
| 12 | BTIG | 794.8 | 1.3% | 404.4 | 1.6% | 4 | 198.7 |
| 13 | Stifel | 782.5 | 1.3% | 218.7 | 0.9% | 3 | 260.8 |
| 14 | Cowen | 753.8 | 1.2% | 240.7 | 1.0% | 3 | 251.3 |
| 15 | RBC | 544.0 | 0.9% | 100.0 | 0.4% | 1 | 544.0 |
| 16 | Odeon Capital Group, LLC | 414.0 | 0.7% | 64.0 | 0.3% | 1 | 414.0 |
| 17 | Evercore ISI | 414.0 | 0.7% | 334.8 | 1.3% | 1 | 414.0 |
| 18 | Northland | 330.0 | 0.5% | 50.0 | 0.2% | 2 | 165.0 |
| 19 | Earlybird | 319.5 | 0.5% | 150.0 | 0.6% | 1 | 319.5 |
| 20 | Raymond James | 319.5 | 0.5% | 150.0 | 0.6% | 1 | 319.5 |
| 21 | Chardan | 275.0 | 0.4% | 183.0 | 0.7% | 2 | 137.5 |
| 22 | Nomura | 230.0 | 0.4% | 110.0 | 0.4% | 1 | 230.0 |
| 23 | Piper Sandler | 225.0 | 0.4% | 20.3 | 0.1% | 1 | 225.0 |
| 24 | ThinkEquity | 225.0 | 0.4% | 22.5 | 0.1% | 1 | 225.0 |
| 25 | Leerink Partners | 166.8 | 0.3% | 145.0 | 0.6% | 1 | 166.8 |
| 26 | Oppenheimer | 100.0 | 0.2% | 80.0 | 0.3% | 1 | 100.0 |
| 27 | I-Bankers | 100.0 | 0.2% | 49.5 | 0.2% | 1 | 100.0 |
| 28 | Maxim | 75.0 | 0.1% | 75.0 | 0.3% | 1 | 75.0 |
| 29 | Ladenburg | 40.0 | 0.1% | 40.0 | 0.2% | 1 | 40.0 |
| 30 | Brookline | 40.0 | 0.1% | 0.0 | 0.0% | 1 | 40.0 |
1H 2020
| Rank | Underwriter | Volume ($mm) | Volume % Mkt Share | Volume Sold ($mm) | Volume Sold % Mkt Share | Deal Count | Average Deal Size |
|---|---|---|---|---|---|---|---|
| 1 | Credit Suisse | 3,990.5 | 18.6% | 2,619.5 | 28.2% | 7 | 570.1 |
| 2 | Goldman Sachs | 3,264.0 | 15.2% | 1,075.0 | 11.6% | 6 | 544.0 |
| 3 | Citigroup | 3,204.0 | 14.9% | 1,209.0 | 13.0% | 5 | 640.8 |
| 4 | BofA | 1,966.5 | 9.1% | 733.5 | 7.9% | 3 | 655.5 |
| 5 | Deutsche Bank | 1,690.0 | 7.9% | 753.0 | 8.1% | 4 | 422.5 |
| 6 | UBS | 1,474.0 | 6.9% | 454.0 | 4.9% | 5 | 294.8 |
| 7 | Morgan Stanley | 1,460.0 | 6.8% | 274.0 | 3.0% | 3 | 486.7 |
| 8 | Jefferies | 560.0 | 2.6% | 281.0 | 3.0% | 3 | 186.7 |
| 9 | Cantor | 455.0 | 2.1% | 396.0 | 4.3% | 2 | 227.5 |
| 10 | J.P. Morgan | 414.0 | 1.9% | 153.0 | 1.6% | 1 | 414.0 |
| 11 | Cowen | 400.0 | 1.9% | 180.0 | 1.9% | 1 | 400.0 |
| 12 | Earlybird | 381.5 | 1.8% | 216.0 | 2.3% | 3 | 127.2 |
| 13 | RBC | 345.0 | 1.6% | 75.0 | 0.8% | 1 | 345.0 |
| 14 | Odeon Capital Group, LLC | 305.0 | 1.4% | 59.0 | 0.6% | 1 | 305.0 |
| 15 | Chardan | 266.9 | 1.2% | 243.5 | 2.6% | 4 | 66.7 |
| 16 | Stifel | 200.0 | 0.9% | 50.0 | 0.5% | 1 | 200.0 |
| 17 | Nomura | 200.0 | 0.9% | 102.0 | 1.1% | 1 | 200.0 |
| 18 | Oppenheimer | 200.0 | 0.9% | 68.0 | 0.7% | 1 | 200.0 |
| 19 | Baird | 200.0 | 0.9% | 20.0 | 0.2% | 1 | 200.0 |
| 20 | Imperial | 172.5 | 0.8% | 120.0 | 1.3% | 1 | 172.5 |
| 21 | I-Bankers | 138.0 | 0.6% | 56.5 | 0.6% | 1 | 138.0 |
| 22 | Craig-Hallum | 76.5 | 0.4% | 37.5 | 0.4% | 1 | 76.5 |
| 23 | Roth Capital Partners | 76.5 | 0.4% | 37.5 | 0.4% | 1 | 76.5 |
| 24 | Maxim | 69.0 | 0.3% | 60.0 | 0.6% | 1 | 69.0 |
Q2 2020
| Rank | Underwriter | Volume ($mm) | Volume % Mkt Share | Volume Sold ($mm) | Volume Sold % Mkt Share | Deal Count | Average Deal Size |
|---|---|---|---|---|---|---|---|
| 1 | Credit Suisse | 3,484.5 | 23.7% | 2,179.5 | 35.7% | 5 | 696.9 |
| 2 | Citigroup | 2,104.0 | 14.3% | 579.0 | 9.5% | 4 | 526.0 |
| 3 | BofA | 1,966.5 | 13.4% | 733.5 | 12.0% | 3 | 655.5 |
| 4 | Goldman Sachs | 1,244.0 | 8.5% | 191.0 | 3.1% | 3 | 414.7 |
| 5 | Morgan Stanley | 1,035.0 | 7.1% | 174.0 | 2.9% | 2 | 517.5 |
| 6 | UBS | 1,014.0 | 6.9% | 373.0 | 6.1% | 3 | 338.0 |
| 7 | Cantor | 455.0 | 3.1% | 396.0 | 6.5% | 2 | 227.5 |
| 8 | J.P. Morgan | 414.0 | 2.8% | 153.0 | 2.5% | 1 | 414.0 |
| 9 | Cowen | 400.0 | 2.7% | 180.0 | 3.0% | 1 | 400.0 |
| 10 | Deutsche Bank | 345.0 | 2.4% | 150.0 | 2.5% | 1 | 345.0 |
| 11 | RBC | 345.0 | 2.4% | 150.0 | 2.5% | 1 | 345.0 |
| 12 | Jefferies | 330.0 | 2.2% | 215.0 | 3.5% | 2 | 165.0 |
| 13 | Odeon Capital Group, LLC | 305.0 | 2.1% | 59.0 | 1.0% | 1 | 305.0 |
| 14 | Stifel | 200.0 | 1.4% | 50.0 | 0.8% | 1 | 200.0 |
| 15 | Nomura | 200.0 | 1.4% | 102.0 | 1.7% | 1 | 200.0 |
| 16 | Oppenheimer | 200.0 | 1.4% | 68.0 | 1.1% | 1 | 200.0 |
| 17 | Baird | 200.0 | 1.4% | 20.0 | 0.3% | 1 | 200.0 |
| 18 | Chardan | 143.7 | 1.0% | 134.0 | 2.2% | 2 | 71.9 |
| 19 | Earlybird | 140.0 | 1.0% | 116.0 | 1.9% | 2 | 70.0 |
| 20 | Craig-Hallum | 76.5 | 0.5% | 37.5 | 0.6% | 1 | 76.5 |
| 21 | Roth Capital Partners | 76.5 | 0.5% | 37.5 | 0.6% | 1 | 76.5 |
Q1 2020
| Rank | Underwriter | Volume ($mm) | Volume % Mkt Share | Volume Sold ($mm) | Volume Sold % Mkt Share | Deal Count | Average Deal Size |
|---|---|---|---|---|---|---|---|
| 1 | Goldman Sachs | 2,020.0 | 29.6% | 884.0 | 27.2% | 3 | 673.3 |
| 2 | Deutsche Bank | 1,345.0 | 19.7% | 603.0 | 18.6% | 3 | 448.3 |
| 3 | Citigroup | 1,100.0 | 16.1% | 630.0 | 19.4% | 1 | 1,100.0 |
| 4 | Credit Suisse | 506.0 | 7.4% | 440.0 | 13.5% | 2 | 253.0 |
| 5 | UBS | 460.0 | 6.7% | 81.0 | 2.5% | 2 | 230.0 |
| 6 | Morgan Stanley | 425.0 | 6.2% | 100.0 | 3.1% | 1 | 425.0 |
| 7 | Earlybird | 241.5 | 3.5% | 100.0 | 3.1% | 1 | 241.5 |
| 8 | Jefferies | 230.0 | 3.4% | 66.0 | 2.0% | 1 | 230.0 |
| 9 | Imperial Capital | 172.5 | 2.5% | 120.0 | 3.7% | 1 | 172.5 |
| 10 | I-Bankers | 138.0 | 2.0% | 56.5 | 1.7% | 1 | 138.0 |
| 11 | Chardan | 123.1 | 1.8% | 109.5 | 3.4% | 2 | 61.6 |
| 12 | Maxim Group | 69.0 | 1.0% | 60.0 | 1.8% | 1 | 69.0 |
FY 2019
| Rank | Underwriter | Volume ($mm) | Volume % Mkt Share | Volume Sold ($mm) | Volume Sold % Mkt Share | Deal Count | Average Deal Size |
|---|---|---|---|---|---|---|---|
| 1 | Cantor | 3,638.3 | 16.8% | 2,566.1 | 22.1% | 14 | 259.9 |
| 2 | Deutsche Bank | 2,541.8 | 11.7% | 1,270.0 | 10.9% | 8 | 317.7 |
| 3 | Credit Suisse | 2,491.6 | 11.5% | 1,286.2 | 11.1% | 9 | 276.8 |
| 4 | Goldman Sachs | 2,102.7 | 9.7% | 864.8 | 7.4% | 6 | 350.4 |
| 5 | BTIG | 1,600.8 | 7.4% | 729.9 | 6.3% | 7 | 228.7 |
| 6 | Citigroup | 1,529.1 | 7.1% | 960.0 | 8.3% | 4 | 382.3 |
| 7 | Earlybird | 969.5 | 4.5% | 587.0 | 5.0% | 6 | 161.6 |
| 8 | UBS | 951.8 | 4.4% | 498.8 | 4.3% | 4 | 237.9 |
| 9 | Barclays | 741.8 | 3.4% | 301.3 | 2.6% | 3 | 247.3 |
| 10 | Morgan Stanley | 645.0 | 3.0% | 241.7 | 2.1% | 2 | 322.5 |
| 11 | J.P. Morgan | 575.0 | 2.7% | 166.7 | 1.4% | 2 | 287.5 |
| 12 | B. Riley FBR | 546.3 | 2.5% | 475.0 | 4.1% | 3 | 182.1 |
| 13 | BofA | 537.5 | 2.5% | 194.0 | 1.7% | 2 | 268.8 |
| 14 | Stifel | 530.2 | 2.4% | 111.9 | 1.0% | 2 | 265.1 |
| 15 | Jefferies | 488.8 | 2.3% | 395.0 | 3.4% | 2 | 244.4 |
| 16 | Chardan | 446.9 | 2.1% | 238.1 | 2.0% | 5 | 89.4 |
| 17 | Nomura | 300.2 | 1.4% | 159.5 | 1.4% | 1 | 300.2 |
| 18 | Cowen | 280.5 | 1.3% | 190.0 | 1.6% | 2 | 140.3 |
| 19 | I-bankers | 172.5 | 0.8% | 94.5 | 0.8% | 2 | 86.3 |
| 20 | Northland | 172.5 | 0.8% | 74.1 | 0.6% | 1 | 172.5 |
| 21 | Craig-Hallum | 108.0 | 0.5% | 30.0 | 0.3% | 1 | 108.0 |
| 22 | Maxim | 103.5 | 0.5% | 90.0 | 0.8% | 2 | 51.8 |
| 23 | BMO | 100.0 | 0.5% | 55.0 | 0.5% | 1 | 100.0 |
| 24 | SVP Leerink Partners | 100.0 | 0.5% | 45.0 | 0.4% | 1 | 100.0 |
Q4 2019
| Rank | Underwriter | Volume ($mm) | Volume % Mkt Share | Volume Sold ($mm) | Volume Sold % Mkt Share | Deal Count | Average Deal Size |
|---|---|---|---|---|---|---|---|
| 1 | Cantor | 1,045.0 | 21.9% | 780.0 | 27.3% | 5 | 209.0 |
| 2 | Credit Suisse | 616.3 | 12.9% | 358.4 | 12.5% | 2 | 308.1 |
| 3 | UBS | 603.8 | 12.7% | 435.0 | 15.2% | 2 | 301.9 |
| 4 | Barclays | 508.8 | 10.7% | 200.0 | 7.0% | 2 | 254.4 |
| 5 | BTIG | 460.0 | 9.7% | 261.3 | 9.1% | 2 | 230.0 |
| 6 | Earlybird | 348.5 | 7.3% | 240.0 | 8.4% | 3 | 116.2 |
| 7 | Morgan Stanley | 300.0 | 6.3% | 91.7 | 3.2% | 1 | 300.0 |
| 8 | J.P. Morgan | 300.0 | 6.3% | 91.7 | 3.2% | 1 | 300.0 |
| 9 | Jefferies | 172.5 | 3.6% | 120.0 | 4.2% | 1 | 172.5 |
| 10 | B. Riley FBR | 149.5 | 3.1% | 130.0 | 4.5% | 1 | 149.5 |
| 11 | Leerink Partners | 100.0 | 2.1% | 45.0 | 1.6% | 1 | 100.0 |
| 12 | BMO | 100.0 | 2.1% | 55.0 | 1.9% | 1 | 100.0 |
| 13 | I-Bankers | 57.5 | 1.2% | 49.5 | 1.7% | 1 | 57.5 |
Q3 2019
| Rank | Underwriter | Volume ($mm) | Volume % Mkt Share | Volume Sold ($mm) | Volume Sold % Mkt Share | Deal Count | Average Deal Size |
|---|---|---|---|---|---|---|---|
| 1 | Credit Suisse | 937.9 | 16.3% | 505.5 | 17.7% | 4 | 234.5 |
| 2 | Deutsche Bank | 926.3 | 16.1% | 387.5 | 13.6% | 3 | 308.8 |
| 3 | Cantor | 925.0 | 16.1% | 539.8 | 18.9% | 3 | 308.3 |
| 4 | Goldman Sachs | 764.1 | 13.3% | 350.0 | 12.2% | 2 | 382.1 |
| 5 | Citigroup | 589.1 | 10.2% | 165.0 | 5.8% | 2 | 294.6 |
| 6 | BTIG | 460.0 | 8.0% | 275.0 | 9.6% | 2 | 230.0 |
| 7 | Morgan Stanley | 345.0 | 6.0% | 150.0 | 5.2% | 1 | 345.0 |
| 8 | J.P. Morgan | 275.0 | 4.8% | 75.0 | 2.6% | 1 | 275.0 |
| 9 | B. Riley FBR | 253.0 | 4.4% | 220.0 | 7.7% | 1 | 253.0 |
| 10 | Earlybird | 172.5 | 3.0% | 100.0 | 3.5% | 1 | 172.5 |
| 11 | Maxim | 57.5 | 1.0% | 50.0 | 1.7% | 1 | 57.5 |
| 12 | Chardan | 44.4 | 0.8% | 40.0 | 1.4% | 1 | 44.4 |
1H 2019
| Rank | Underwriter | Volume ($mm) | Volume % Mkt Share | Volume Sold ($mm) | Volume Sold % Mkt Share | Deal Count | Average Deal Size |
|---|---|---|---|---|---|---|---|
| 1 | Cantor | 1,668.3 | 15.1% | 1246.3 | 21.0% | 6 | 278.1 |
| 2 | Deutsche Bank | 1,615.6 | 14.6% | 882.5 | 14.9% | 5 | 323.1 |
| 3 | Goldman Sachs | 1,338.6 | 12.1% | 514.8 | 8.7% | 4 | 334.6 |
| 4 | Credit Suisse | 937.5 | 8.5% | 422.3 | 7.1% | 3 | 312.5 |
| 5 | Citigroup | 850.0 | 7.7% | 825.0 | 13.9% | 2 | 425.0 |
| 6 | BTIG | 680.8 | 6.1% | 193.6 | 3.3% | 3 | 226.9 |
| 7 | BofA | 537.5 | 4.9% | 194.0 | 3.3% | 2 | 268.8 |
| 8 | Stifel | 530.2 | 4.8% | 111.9 | 1.9% | 2 | 265.1 |
| 9 | Earlybird | 448.5 | 4.1% | 247.0 | 4.2% | 2 | 224.3 |
| 10 | Chardan | 402.5 | 3.6% | 198.1 | 3.3% | 4 | 100.6 |
| 11 | UBS | 348.0 | 3.1% | 63.8 | 1.1% | 2 | 174.0 |
| 12 | Jefferies | 316.3 | 2.9% | 275.0 | 4.6% | 1 | 316.3 |
| 13 | Nomura | 300.2 | 2.7% | 159.5 | 2.7% | 1 | 300.2 |
| 14 | Cowen | 280.5 | 2.5% | 190.0 | 3.2% | 2 | 140.3 |
| 15 | Barclays | 233.0 | 2.1% | 101.3 | 1.7% | 1 | 233.0 |
| 16 | Northland | 172.5 | 1.6% | 74.1 | 1.2% | 1 | 172.5 |
| 17 | B. Riley FBR | 143.8 | 1.3% | 125.0 | 2.1% | 1 | 143.8 |
| 18 | I-bankers | 115.0 | 1.0% | 45.0 | 0.8% | 1 | 115.0 |
| 19 | Craig-Hallum | 108.0 | 1.0% | 30.0 | 0.5% | 1 | 108.0 |
| 20 | Maxim | 46.0 | 0.4% | 40.0 | 0.7% | 1 | 46.0 |
Q2 2019
| Rank | Underwriter | Volume ($mm) | Volume % Mkt Share | Volume Sold ($mm) | Volume Sold % Mkt Share | Deal Count | Average Deal Size |
|---|---|---|---|---|---|---|---|
| 1 | Cantor | 987.5 | 22.4% | 861.0 | 28.7% | 3 | 329.2 |
| 2 | Citigroup | 850.0 | 19.3% | 825.0 | 27.5% | 2 | 425.0 |
| 3 | Deutsche Bank | 400.0 | 9.1% | 169.8 | 5.7% | 1 | 400.0 |
| 4 | Goldman Sachs | 400.0 | 9.1% | 169.8 | 5.7% | 1 | 400.0 |
| 5 | Jefferies | 316.3 | 7.2% | 275.0 | 9.2% | 1 | 316.3 |
| 6 | Credit Suisse | 287.5 | 6.5% | 157.6 | 5.3% | 1 | 287.5 |
| 7 | BofA | 287.5 | 6.5% | 84.9 | 2.8% | 1 | 287.5 |
| 8 | Earlybird | 172.5 | 3.9% | 72.0 | 2.4% | 1 | 172.5 |
| 9 | Northland | 172.5 | 3.9% | 74.1 | 2.5% | 1 | 172.5 |
| 10 | B. Riley FBR | 143.8 | 3.3% | 125.0 | 4.2% | 1 | 143.8 |
| 11 | Chardan | 115.0 | 2.6% | 70.0 | 2.3% | 1 | 115.0 |
| 12 | UBS | 115.0 | 2.6% | 30.0 | 1.0% | 1 | 115.0 |
| 13 | I-bankers | 115.0 | 2.6% | 45.0 | 1.5% | 1 | 115.0 |
| 14 | Maxim | 46.0 | 1.0% | 40.0 | 1.3% | 1 | 46.0 |
Q1 2019
| Rank | Underwriter | Volume ($mm) | Volume % Mkt Share | Volume Sold ($mm) | Volume Sold % Mkt Share | Deal Count | Average Deal Size |
|---|---|---|---|---|---|---|---|
| 1 | Deutsche Bank | 1,210.0 | 19.2% | 712.8 | 25.4% | 4 | 302.5 |
| 2 | Goldman Sachs | 933.0 | 14.8% | 345.0 | 12.3% | 3 | 311.0 |
| 3 | Cantor | 641.7 | 10.2% | 385.3 | 13.7% | 4 | 160.4 |
| 4 | BTIG | 641.7 | 10.2% | 193.6 | 6.9% | 3 | 213.9 |
| 5 | Stifel | 530.2 | 8.4% | 111.9 | 4.0% | 2 | 265.1 |
| 6 | Credit Suisse | 400.0 | 6.3% | 131.3 | 4.7% | 1 | 400.0 |
| 7 | Nomura | 300.2 | 4.8% | 159.5 | 5.7% | 1 | 300.2 |
| 8 | Cowen | 280.5 | 4.4% | 190.0 | 6.8% | 2 | 140.3 |
| 9 | Chardan | 280.0 | 4.4% | 128.1 | 4.6% | 3 | 93.3 |
| 10 | Earlybird | 276.0 | 4.4% | 175.0 | 6.2% | 1 | 276.0 |
| 11 | BofA | 250.0 | 4.0% | 109.1 | 3.9% | 1 | 250.0 |
| 12 | UBS | 233.0 | 3.7% | 33.8 | 1.2% | 1 | 233.0 |
| 13 | Barclays | 233.0 | 3.7% | 101.3 | 3.6% | 1 | 233.0 |
| 14 | Craig-Hallum | 108.0 | 1.7% | 30.0 | 1.1% | 1 | 108.0 |
FY 2018
| Rank | Underwriter | Volume ($mm) | Volume % Mkt Share | Volume Sold ($mm) | Volume Sold % Mkt Share | Deal Count | Average Deal Size |
|---|---|---|---|---|---|---|---|
| 1 | Credit Suisse | 2,212.0 | 12.2% | 913.9 | 10.2% | 5 | 442.4 |
| 2 | Chardan | 2,205.4 | 12.2% | 766.4 | 8.6% | 15 | 147.0 |
| 3 | BofA | 1,897.5 | 10.5% | 643.0 | 7.2% | 5 | 379.5 |
| 4 | Citigroup | 1,882.0 | 10.4% | 1,133.4 | 12.7% | 4 | 470.5 |
| 5 | Cantor | 1,668.0 | 9.2% | 1,204.0 | 13.5% | 8 | 208.5 |
| 6 | Earlybird | 1,527.9 | 8.5% | 843.5 | 9.4% | 9 | 169.8 |
| 7 | Deutsche Bank | 1,250.0 | 6.9% | 751.8 | 8.4% | 4 | 312.5 |
| 8 | Goldman Sachs | 1,215.0 | 6.7% | 711.3 | 8.0% | 3 | 405.0 |
| 9 | Oppenheimer | 657.8 | 3.6% | 235.4 | 2.6% | 2 | 328.9 |
| 10 | B. Riley FBR | 625.3 | 3.5% | 515.5 | 5.8% | 3 | 208.4 |
| 11 | Jefferies | 564.3 | 3.1% | 420.0 | 4.7% | 3 | 188.1 |
| 12 | UBS | 508.0 | 2.8% | 137.5 | 1.5% | 2 | 254.0 |
| 13 | BTIG | 299.3 | 1.7% | 55.0 | 0.6% | 2 | 149.6 |
| 14 | CLSA | 258.0 | 1.4% | 50.0 | 0.6% | 1 | 258.0 |
| 15 | Cowen | 230.0 | 1.3% | 165.0 | 1.8% | 1 | 230.0 |
| 16 | Macquarie | 200.0 | 1.1% | 59.0 | 0.7% | 1 | 200.0 |
| 17 | Morgan Stanley | 200.0 | 1.1% | 67.5 | 0.8% | 1 | 200.0 |
| 18 | Dowling & Partners | 172.5 | 1.0% | 42.0 | 0.5% | 1 | 172.5 |
| 19 | Raymond James | 155.3 | 0.9% | 44.6 | 0.5% | 1 | 155.3 |
| 20 | Ladenburg | 115.0 | 0.6% | 92.5 | 1.0% | 1 | 115.0 |
| 21 | CIM Securities | 115.0 | 0.6% | 0.5 | 0.0% | 1 | 115.0 |
| 22 | Maxim | 63.3 | 0.4% | 55.0 | 0.6% | 1 | 63.3 |
| 23 | I-bankers | 63.3 | 0.4% | 27.5 | 0.3% | 1 | 63.3 |
Q4 2018
| Rank | Underwriter | Volume ($mm) | Volume % Mkt Share | Volume Sold ($mm) | Volume Sold % Mkt Share | Deal Count | Avg. Size ($mm) |
|---|---|---|---|---|---|---|---|
| 1 | Cantor | 840.0 | 18.3% | 660.0 | 31.6% | 3 | 280.0 |
| 2 | BofA Merrill Lynch | 640.0 | 14.1% | 167.5 | 8.0% | 2 | 320.0 |
| 3 | Chardan | 611.9 | 13.4% | 267.2 | 12.8% | 5 | 122.4 |
| 4 | Citigroup | 440.0 | 9.7% | 190.0 | 9.1% | 1 | 440.0 |
| 5 | Credit Suisse | 440.0 | 9.7% | 110.0 | 5.3% | 1 | 440.0 |
| 6 | EarlyBirdCapital | 429.4 | 9.4% | 208.8 | 10.0% | 3 | 143.1 |
| 7 | Jefferies | 364.3 | 8.0% | 260.0 | 12.4% | 2 | 182.1 |
| 8 | UBS | 220.5 | 4.8% | 40.0 | 1.9% | 1 | 220.5 |
| 9 | Macquarie | 200.0 | 4.4% | 59.0 | 2.8% | 1 | 200.0 |
| 10 | Morgan Stanley | 200.0 | 4.4% | 67.5 | 3.2% | 1 | 200.0 |
| 11 | BTIG | 130.0 | 2.9% | 32.5 | 1.6% | 1 | 130.0 |
| 12 | I-Bankers Securities | 63.3 | 1.4% | 27.5 | 1.3% | 1 | 63.3 |
Q3 2018
| Rank | Underwriter | Volume ($mm) | Volume % Mkt Share | Volume Sold ($mm) | Volume Sold % Mkt Share | Deal Count | Avg. Size ($mm) |
|---|---|---|---|---|---|---|---|
| 1 | Citigroup | 1,242.0 | 35.7% | 743.4 | 36.1% | 2 | 621.0 |
| 2 | Credit Suisse | 552.0 | 15.9% | 158.4 | 7.7% | 1 | 552.0 |
| 3 | Chardan | 408.8 | 11.8% | 206.3 | 10.0% | 4 | 102.2 |
| 4 | Deutsche Bank | 400.0 | 11.5% | 375.0 | 18.2% | 1 | 400.0 |
| 5 | EarlyBirdCapital | 250.0 | 7.2% | 206.3 | 10.0% | 1 | 250.0 |
| 6 | Jefferies | 200.0 | 5.8% | 160.0 | 7.8% | 1 | 200.0 |
| 7 | Cantor Fitzgerald | 189.5 | 5.5% | 131.0 | 6.4% | 2 | 94.8 |
| 8 | BTIG | 169.3 | 4.9% | 22.5 | 1.1% | 1 | 169.3 |
| 9 | Maxim Group | 63.3 | 1.8% | 55.0 | 2.7% | 1 | 63.3 |
1H 2018
| Rank | Underwriter | Volume ($mm) | Deal Count | Avg deal size | % Mkt Share |
|---|---|---|---|---|---|
| 1 | BofA Merrill Lynch | 1,257.5 | 3 | 419.2 | 13.2% |
| 2 | Goldman Sachs | 1,215.0 | 3 | 405.0 | 12.8% |
| 3 | Credit Suisse | 1,182.5 | 3 | 394.2 | 12.4% |
| 4 | Chardan | 976.8 | 5 | 195.4 | 10.3% |
| 5 | Deutsche Bank | 850.0 | 3 | 283.3 | 8.9% |
| 6 | EarlyBirdCapital, Inc. | 843.5 | 5 | 168.7 | 8.9% |
| 7 | Cantor Fitzgerald | 638.5 | 3 | 212.8 | 6.7% |
| 8 | B. Riley FBR | 625.3 | 3 | 208.4 | 6.6% |
| 9 | Oppenheimer & Co. | 414.0 | 1 | 414.0 | 4.4% |
| 10 | Citic CLSA | 258.0 | 1 | 258.0 | 2.7% |
| 11 | UBS | 250.0 | 1 | 250.0 | 2.6% |
| 12 | Cowen | 230.0 | 1 | 230.0 | 2.4% |
| 13 | Citigroup | 200.0 | 1 | 200.0 | 2.1% |
| 14 | Dowling & Partners Securities | 172.5 | 1 | 172.5 | 1.8% |
| 15 | Raymond James | 155.3 | 1 | 155.3 | 1.6% |
| 16 | Ladenburg | 115.0 | 1 | 115.0 | 1.2% |
| 17 | CIM Securities | 115.0 | 1 | 115.0 | 1.2% |
Q2 2018
| Rank | Underwriter | Volume ($mm) | Deal Count | Avg. Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|
| 1 | Credit Suisse | 882.5 | 2 | 441.3 | 16.9% |
| 2 | Goldman Sachs | 690.0 | 1 | 690.0 | 13.2% |
| 3 | Chardan | 689.3 | 3 | 229.8 | 13.2% |
| 4 | EarlyBirdCapital, Inc. | 671.0 | 3 | 223.7 | 12.9% |
| 5 | BofA Merrill Lynch | 632.5 | 1 | 632.5 | 12.1% |
| 6 | B. Riley FBR | 500.3 | 2 | 250.1 | 9.6% |
| 7 | Cantor Fitzgerald | 258.0 | 1 | 258.0 | 4.9% |
| 8 | Citic CLSA | 258.0 | 1 | 258.0 | 4.9% |
| 9 | UBS | 250.0 | 1 | 250.0 | 4.8% |
| 10 | Cowen | 230.0 | 1 | 230.0 | 4.4% |
| 11 | Raymond James | 155.3 | 1 | 155.3 | 3.0% |
Q1 2018
| Rank | Underwriter | Volume ($mm) | Deal Count | Avg. Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|
| 1 | Deutsche Bank | 850.0 | 3 | 283.3 | 22.0% |
| 2 | BofA Merrill Lynch | 625.0 | 2 | 312.5 | 16.2% |
| 3 | Goldman Sachs | 525.0 | 2 | 262.5 | 13.6% |
| 4 | Cantor | 380.5 | 2 | 190.3 | 9.9% |
| 5 | Credit Suisse | 300.0 | 1 | 300.0 | 7.8% |
| 6 | Chardan | 287.5 | 2 | 143.8 | 7.4% |
| 7 | Citigroup | 200.0 | 1 | 200.0 | 5.2% |
| 8 | EarlyBirdCapital, Inc. | 172.5 | 2 | 86.3 | 4.5% |
| 9 | Dowling & Partners Securities LLC | 172.5 | 1 | 172.5 | 4.5% |
| 10 | B. Riley FBR | 125.0 | 1 | 125.0 | 3.2% |
| 11 | Ladenburg Thalmann | 111.5 | 1 | 111.5 | 2.9% |
| 12 | CIM Securities | 111.5 | 1 | 111.5 | 2.9% |
2017
| Rank | Underwriter | Volume ($mm) | Deal Count | Avg. Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|
| 1 | Credit Suisse | 4,181.0 | 8 | 522.6 | 19.0% |
| 2 | Citigroup | 4,121.8 | 8 | 515.2 | 18.7% |
| 3 | Deutsche Bank | 3,259.8 | 6 | 543.3 | 14.8% |
| 4 | Goldman Sachs | 3,032.0 | 5 | 606.4 | 13.8% |
| 5 | J.P. Morgan | 1,497.5 | 4 | 374.4 | 6.8% |
| 6 | EarlybirdCapital, Inc. | 1,214.2 | 8 | 151.8 | 5.5% |
| 7 | Cantor Fitzgerald | 1,130.0 | 4 | 282.5 | 5.1% |
| 8 | Stifel | 556.7 | 2 | 278.3 | 2.5% |
| 9 | BofA Merrill Lynch | 460.0 | 1 | 460.0 | 2.1% |
| 10 | B. Riley FBR | 345.0 | 2 | 172.5 | 1.6% |
| 11 | RBC Capital Markets | 345.0 | 1 | 345.0 | 1.6% |
| 12 | Wells Fargo | 300.0 | 1 | 300.0 | 1.4% |
| 13 | Cowen & Company | 287.3 | 2 | 143.6 | 1.3% |
| 14 | Maxim Group | 281.2 | 2 | 140.6 | 1.3% |
| 15 | Chardan Capital Markets | 240.0 | 3 | 80.0 | 1.1% |
| 16 | National Bank of Canada | 229.2 | 1 | 229.2 | 1.0% |
| 17 | Macquarie Capital | 207.0 | 1 | 207.0 | 0.9% |
| 18 | Morgan Stanley | 200.0 | 1 | 200.0 | 0.9% |
| 19 | Ladenburg Thalmann | 115.0 | 1 | 115.0 | 0.5% |
YTD 2020
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|---|---|
| 1 | Ropes & Gray LLP | 11,230.0 | 19 | 4 | 15 | 591.1 | 13.12% |
| 2 | Skadden, Arps, Slate, Meagher & Flom LLP | 11,039.2 | 27 | 11 | 16 | 408.9 | 12.90% |
| 3 | Kirkland & Ellis LLP | 10,025.9 | 32 | 16 | 16 | 313.3 | 11.72% |
| 4 | Davis Polk & Wardwell LLP | 8,124.1 | 16 | 0 | 16 | 507.8 | 9.49% |
| 5 | White & Case LLP | 7,683.4 | 23 | 14 | 9 | 334.1 | 8.98% |
| 6 | Ellenoff Grossman & Schole LLP | 6,844.9 | 27 | 12 | 15 | 253.5 | 8.00% |
| 7 | Weil, Gotshal & Manges LLP | 5,004.5 | 8 | 7 | 1 | 625.6 | 5.85% |
| 8 | Winston & Strawn LLP | 4,015.0 | 11 | 9 | 2 | 365.0 | 4.69% |
| 9 | Cadwalader, Wickersham & Taft LLP | 4,000.0 | 1 | 1 | 0 | 4,000.0 | 4.78% |
| 10 | Paul, Weiss, Rifkind, Wharton & Garrison LLP | 3,302.3 | 3 | 3 | 0 | 1,100.8 | 3.86% |
| 11 | Graubard Miller | 2,710.5 | 10 | 5 | 5 | 271.0 | 3.17% |
| 12 | Shearman & Sterling LLP | 1,955.0 | 5 | 0 | 5 | 391.0 | 2.28% |
| 13 | Greenberg Traurig, LLP | 1,888.8 | 7 | 3 | 4 | 269.8 | 2.21% |
| 14 | Goodwin Procter LLP | 1,498.2 | 6 | 6 | 0 | 249.7 | 1.79% |
| 15 | Loeb & Loeb LLP | 1,441.6 | 12 | 9 | 3 | 120.1 | 1.68% |
| 16 | Ledgewood PC | 1,214.7 | 3 | 3 | 0 | 404.9 | 1.45% |
| 17 | Paul Hastings LLP | 980.0 | 3 | 1 | 2 | 326.7 | 1.17% |
| 18 | Cleary Gottlieb Steen & Hamilton LLP | 724.5 | 1 | 1 | 0 | 724.5 | 0.87% |
| 19 | Sidley Austin | 602.5 | 3 | 0 | 3 | 200.8 | 0.70% |
| 20 | Fried, Frank, Harris, Shriver & Jacobson LLP | 575.0 | 1 | 1 | 0 | 575.0 | 0.69% |
| 21 | Akin Gump Strauss Hauer & Feld LLP | 360.0 | 1 | 1 | 0 | 360.0 | 0.43% |
| 22 | Debevoise & Plimpton LLP | 345.0 | 1 | 1 | 0 | 345.0 | 0.41% |
| 23 | Vinson & Elkins LLP | 345.0 | 1 | 1 | 0 | 345.0 | 0.41% |
| 24 | Latham & Watkins LLP | 345.0 | 1 | 1 | 0 | 345.0 | 0.41% |
| 25 | Venable | 230.0 | 1 | 1 | 0 | 230.0 | 0.26% |
| 26 | Crowell & Moring, LLP | 200.0 | 1 | 1 | 0 | 200.0 | 0.23% |
| 27 | Hughes Hubbard & Reed LLP | 200.0 | 1 | 1 | 0 | 200.0 | 0.23% |
| 28 | Tarter, Krinsky & Drogin LLP | 172.5 | 1 | 1 | 0 | 172.5 | 0.20% |
| 29 | K&L Gates LLP | 172.5 | 1 | 0 | 1 | 172.5 | 0.20% |
| 30 | Schiff Hardin LLP | 138.0 | 1 | 0 | 1 | 138.0 | 0.16% |
| 31 | Blank Rome | 100.0 | 1 | 1 | 0 | 100.0 | 0.12% |
| 32 | Scarinci & Hollenbeck, LLC | 57.5 | 1 | 0 | 1 | 57.5 | 0.07% |
| 33 | Raiti, PLLC | 40.0 | 1 | 1 | 0 | 40.0 | 0.05% |
| 34 | Kramer Levin Naftalis & Frankel LLP | 40.0 | 1 | 0 | 1 | 40.0 | 0.05% |
Q3 2020
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|---|---|
| 1 | Ropes & Gray LLP | 8,735.0 | 14 | 3 | 11 | 623.9 | 13.8% |
| 2 | Kirkland & Ellis LLP | 7,696.0 | 24 | 12 | 12 | 320.7 | 12.2% |
| 3 | White & Case LLP | 7,378.4 | 22 | 13 | 9 | 335.4 | 11.7% |
| 4 | Skadden, Arps, Slate, Meagher & Flom LLP | 7,052.2 | 18 | 7 | 11 | 391.8 | 11.2% |
| 5 | Ellenoff Grossman & Schole LLP | 5,807.9 | 21 | 9 | 12 | 276.6 | 9.2% |
| 6 | Davis Polk & Wardwell LLP | 5,581.6 | 11 | 0 | 11 | 507.4 | 8.8% |
| 7 | Cadwalader, Wickersham & Taft LLP | 4,000.0 | 1 | 1 | 0 | 4,000.0 | 6.5% |
| 8 | Weil, Gotshal & Manges LLP | 2,682.0 | 4 | 3 | 1 | 670.5 | 4.2% |
| 9 | Paul, Weiss, Rifkind, Wharton & Garrison LLP | 2,202.3 | 2 | 2 | 0 | 1,101.1 | 3.5% |
| 10 | Graubard Miller | 2,102.5 | 5 | 3 | 2 | 420.5 | 3.3% |
| 11 | Greenberg Traurig, LLP | 1,589.8 | 5 | 3 | 2 | 318.0 | 2.5% |
| 12 | Goodwin Procter LLP | 1,498.2 | 6 | 6 | 0 | 249.7 | 2.4% |
| 13 | Ledgewood PC | 1,214.7 | 3 | 3 | 0 | 404.9 | 2.0% |
| 14 | Loeb & Loeb LLP | 1,029.3 | 6 | 4 | 2 | 171.5 | 1.6% |
| 15 | Paul Hastings LLP | 980.0 | 3 | 1 | 2 | 326.7 | 1.6% |
| 16 | Cleary Gottlieb Steen & Hamilton LLP | 724.5 | 1 | 1 | 0 | 724.5 | 1.2% |
| 17 | Winston & Strawn LLP | 700.0 | 3 | 3 | 0 | 233.3 | 1.1% |
| 18 | Fried, Frank, Harris, Shriver & Jacobson LLP | 575.0 | 1 | 1 | 0 | 575.0 | 0.9% |
| 19 | Shearman & Sterling LLP | 483.0 | 2 | 0 | 2 | 241.5 | 0.8% |
| 20 | Sidley Austin | 402.5 | 2 | 0 | 2 | 201.3 | 0.6% |
| 21 | Akin Gump Strauss Hauer & Feld LLP | 360.0 | 1 | 1 | 0 | 360.0 | 0.6% |
| 22 | Debevoise & Plimpton LLP | 345.0 | 1 | 1 | 0 | 345.0 | 0.6% |
| 23 | Vinson & Elkins LLP | 345.0 | 1 | 1 | 0 | 345.0 | 0.6% |
| 24 | Latham & Watkins LLP | 345.0 | 1 | 1 | 0 | 345.0 | 0.6% |
| 25 | Venable | 230.0 | 1 | 1 | 0 | 230.0 | 0.4% |
| 26 | Kramer Levin Naftalis & Frankel LLP | 40.0 | 1 | 0 | 1 | 40.0 | 0.1% |
1H 2020
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|---|---|
| 1 | Skadden, Arps, Slate, Meagher & Flom LLP | 3,937.0 | 9 | 4 | 5 | 437.4 | 16.8% |
| 2 | Winston & Strawn LLP | 3,315.0 | 8 | 6 | 2 | 414.4 | 14.2% |
| 3 | Davis Polk & Wardwell LLP | 2,542.5 | 5 | 0 | 5 | 508.5 | 10.9% |
| 4 | Ropes & Gray LLP | 2,445.0 | 5 | 1 | 4 | 489.0 | 10.4% |
| 5 | Kirkland & Ellis LLP | 2,329.9 | 8 | 4 | 4 | 291.2 | 10.0% |
| 6 | Weil, Gotshal & Manges LLP | 2,322.5 | 4 | 4 | 0 | 580.6 | 9.9% |
| 7 | Shearman & Sterling LLP | 1,472.0 | 3 | 0 | 3 | 490.7 | 6.3% |
| 8 | Paul, Weiss, Rifkind, Wharton & Garrison LLP | 1,100.0 | 1 | 1 | 0 | 1100.0 | 4.7% |
| 9 | Ellenoff Grossman & Schole LLP | 1,037.0 | 6 | 3 | 3 | 172.8 | 4.4% |
| 10 | Graubard Miller | 608.0 | 5 | 2 | 3 | 121.6 | 2.6% |
| 11 | Loeb & Loeb LLP | 412.4 | 6 | 5 | 1 | 68.7 | 1.8% |
| 12 | White & Case LLP | 305.0 | 1 | 1 | 0 | 305.0 | 1.3% |
| 13 | Greenberg Traurig, LLP | 299.0 | 2 | 0 | 2 | 149.5 | 1.3% |
| 14 | Crowell & Moring, LLP | 200.0 | 1 | 1 | 0 | 200.0 | 0.9% |
| 15 | Hughes Hubbard & Reed LLP | 200.0 | 1 | 1 | 0 | 200.0 | 0.9% |
| 16 | Sidley Austin LLP | 200.0 | 1 | 0 | 1 | 200.0 | 0.9% |
| 17 | Tarter, Krinsky & Drogin LLP | 172.5 | 1 | 1 | 0 | 172.5 | 0.7% |
| 18 | K&L Gates LLP | 172.5 | 1 | 0 | 1 | 172.5 | 0.7% |
| 19 | Schiff Hardin LLP | 138.0 | 1 | 0 | 1 | 138.0 | 0.6% |
| 20 | Blank Rome LLP | 100.0 | 1 | 1 | 0 | 100.0 | 0.4% |
| 21 | Scarinci & Hollenbeck, LLC | 57.5 | 1 | 0 | 1 | 57.5 | 0.2% |
| 22 | Raiti, PLLC | 40.0 | 1 | 1 | 0 | 40.0 | 0.2% |
Q2 2020
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|---|---|
| 1 | Skadden, Arps, Slate, Meagher & Flom LLP | 3,707.0 | 8 | 3 | 5 | 463.4 | 23.8% |
| 2 | Davis Polk & Wardwell LLP | 2,266.5 | 4 | 0 | 4 | 566.6 | 14.6% |
| 3 | Kirkland & Ellis LLP | 2,034.2 | 6 | 4 | 2 | 339.0 | 13.1% |
| 4 | Weil, Gotshal & Manges LLP | 1,897.5 | 3 | 3 | 0 | 632.5 | 12.2% |
| 5 | Shearman & Sterling LLP | 1,242.0 | 2 | 0 | 2 | 621.0 | 8.0% |
| 6 | Ropes & Gray LLP | 1,100.0 | 2 | 1 | 1 | 550.0 | 7.1% |
| 7 | Ellenoff Grossman & Schole LLP | 830.0 | 4 | 1 | 3 | 207.5 | 5.3% |
| 8 | Winston & Strawn LLP | 789.0 | 3 | 2 | 1 | 263.0 | 5.1% |
| 9 | Graubard Miller | 366.5 | 4 | 1 | 3 | 91.6 | 2.4% |
| 10 | White & Case LLP | 305.0 | 1 | 1 | 0 | 305.0 | 2.0% |
| 11 | Loeb & Loeb LLP | 220.2 | 3 | 3 | 0 | 73.4 | 1.4% |
| 12 | Crowell & Moring, LLP | 200.0 | 1 | 1 | 0 | 200.0 | 1.3% |
| 13 | Hughes Hubbard & Reed LLP | 200.0 | 1 | 1 | 0 | 200.0 | 1.3% |
| 14 | Sidley Austin LLP | 200.0 | 1 | 0 | 1 | 200.0 | 1.3% |
| 15 | Blank Rome LLP | 100.0 | 1 | 1 | 0 | 100.0 | 0.6% |
| 16 | Scarinci & Hollenbeck, LLC | 57.5 | 1 | 0 | 1 | 57.5 | 0.4% |
| 17 | Raiti, PLLC | 40.0 | 1 | 1 | 0 | 40.0 | 0.3% |
Q1 2020
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|---|---|
| 1 | Winston & Strawn LLP | 2,526.0 | 5 | 4 | 1 | 505.2 | 32.2% |
| 2 | Ropes & Gray LLP | 1,345.0 | 3 | 0 | 3 | 448.3 | 17.1% |
| 3 | Paul, Weiss, Rifkind, Wharton & Garrison LLP | 1,100.0 | 1 | 1 | 0 | 1,100.0 | 14.0% |
| 4 | Weil, Gotshal & Manges LLP | 425.0 | 1 | 1 | 0 | 425.0 | 5.4% |
| 5 | Greenberg Traurig, LLP | 299.0 | 2 | 0 | 2 | 149.5 | 3.8% |
| 6 | Kirkland & Ellis LLP | 295.6 | 2 | 0 | 2 | 147.8 | 3.8% |
| 7 | Davis Polk & Wardwell LLP | 276.0 | 1 | 0 | 1 | 276.0 | 3.5% |
| 8 | Graubard Miller | 241.5 | 1 | 1 | 0 | 241.5 | 3.1% |
| 9 | Skadden, Arps, Slate, Meagher & Flom LLP | 230.0 | 1 | 1 | 0 | 230.0 | 2.9% |
| 10 | Shearman & Sterling LLP | 230.0 | 1 | 0 | 1 | 230.0 | 2.9% |
| 11 | Ellenoff Grossman & Schole LLP | 207.0 | 2 | 2 | 0 | 103.5 | 2.6% |
| 12 | Loeb & Loeb LLP | 192.1 | 3 | 2 | 1 | 64.0 | 2.4% |
| 13 | Tarter, Krinsky & Drogin LLP | 172.5 | 1 | 1 | 0 | 172.5 | 2.2% |
| 14 | K&L Gates LLP | 172.5 | 1 | 0 | 1 | 172.5 | 2.2% |
| 15 | Schiff Hardin LLP | 138.0 | 1 | 0 | 1 | 138.0 | 1.8% |
FY 2019
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|---|---|
| 1 | EGS | 7,305.4 | 33 | 21 | 12 | 221.4 | 26.9% |
| 2 | Kirkland & Ellis LLP | 3,165.9 | 12 | 4 | 8 | 263.8 | 11.6% |
| 3 | Graubard Miller | 3,120.0 | 15 | 8 | 7 | 208.0 | 11.5% |
| 4 | Ropes & Gray LLP | 2,768.8 | 9 | 2 | 7 | 307.6 | 10.2% |
| 5 | Skadden, Arps, Slate, Meagher & Flom LLP | 2,355.0 | 8 | 1 | 7 | 294.4 | 8.7% |
| 6 | Winston & Strawn LLP | 2,234.3 | 7 | 4 | 3 | 319.2 | 8.2% |
| 7 | Weil, Gotshal & Manges LLP | 944.1 | 3 | 1 | 2 | 314.7 | 3.5% |
| 8 | Paul, Weiss, Rifkind, Wharton & Garrison LLP | 940.0 | 2 | 2 | 0 | 470.0 | 3.5% |
| 9 | Loeb & Loeb LLP | 757.9 | 8 | 5 | 3 | 94.7 | 2.8% |
| 10 | Shearman & Sterling LLP | 738.8 | 3 | 0 | 3 | 246.3 | 2.7% |
| 11 | Greenberg Traurig, LLP | 632.5 | 3 | 2 | 1 | 210.8 | 2.3% |
| 12 | Vinson & Elkins LLP | 547.1 | 2 | 2 | 0 | 273.6 | 2.0% |
| 13 | Ledgewood PC | 466.9 | 2 | 2 | 0 | 233.5 | 1.7% |
| 14 | Davis Polk & Wardwell LLP | 330.5 | 2 | 2 | 0 | 165.3 | 1.2% |
| 15 | Latham & Watkins LLP | 230.0 | 1 | 1 | 0 | 230.0 | 0.8% |
| 16 | Crowell & Moring, LLP | 172.5 | 1 | 1 | 0 | 172.5 | 0.6% |
| 17 | Schiff Hardin LLP | 172.5 | 2 | 0 | 2 | 86.3 | 0.6% |
| 18 | Scarinci & Hollenbeck, LLC | 115.0 | 2 | 0 | 2 | 57.5 | 0.4% |
| 19 | Mayer Brown LLP | 100.0 | 1 | 0 | 1 | 100.0 | 0.4% |
| 20 | Becker & Poliakoff LLP | 57.5 | 1 | 1 | 0 | 57.5 | 0.2% |
| 21 | Hunter Taubman Fischer & Li LLC | 46.0 | 1 | 0 | 1 | 46.0 | 0.2% |
Q4 2019
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|---|---|
| 1 | EGS | 1,978.8 | 10 | 9 | 1 | 197.9 | 29.3% |
| 2 | Graubard Miller | 1,066.0 | 7 | 3 | 4 | 152.3 | 15.8% |
| 3 | Kirkland & Ellis LLP | 1,032.0 | 4 | 1 | 3 | 258.0 | 15.3% |
| 4 | Ropes & Gray LLP | 645.0 | 2 | 1 | 1 | 322.5 | 9.5% |
| 5 | Skadden, Arps, Slate, Meagher & Flom LLP | 616.3 | 2 | 0 | 2 | 308.1 | 9.1% |
| 6 | Winston & Strawn LLP | 431.3 | 2 | 0 | 2 | 215.6 | 6.4% |
| 7 | Loeb & Loeb LLP | 380.0 | 2 | 0 | 2 | 190.0 | 5.6% |
| 8 | Ledgewood PC | 316.3 | 1 | 1 | 0 | 316.3 | 4.7% |
| 9 | Mayer Brown LLP | 100.0 | 1 | 0 | 1 | 100.0 | 1.5% |
| 10 | Davis Polk & Wardwell LLP | 80.5 | 1 | 1 | 0 | 80.5 | 1.2% |
| 11 | Schiff Hardin LLP | 57.5 | 1 | 0 | 1 | 57.5 | 0.9% |
| 12 | Becker & Poliakoff LLP | 57.5 | 1 | 1 | 0 | 57.5 | 0.9% |
Q3 2019
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|---|---|
| 1 | Ellenoff Grossman & Schole LLP | 1,957.4 | 9 | 4 | 5 | 217.5 | 29.3% |
| 2 | Ropes & Gray LLP | 1,443.8 | 5 | 1 | 4 | 288.8 | 21.6% |
| 3 | Kirkland & Ellis LLP | 881.3 | 3 | 3 | 0 | 293.8 | 13.2% |
| 4 | Graubard Miller | 752.5 | 3 | 2 | 1 | 250.8 | 11.2% |
| 5 | Weil, Gotshal & Manges LLP | 314.1 | 1 | 0 | 1 | 314.1 | 4.7% |
| 6 | Vinson & Elkins LLP | 314.1 | 1 | 1 | 0 | 314.1 | 4.7% |
| 7 | Winston & Strawn LLP | 253.0 | 1 | 1 | 0 | 253.0 | 3.8% |
| 8 | Skadden, Arps, Slate, Meagher & Flom LLP | 250.0 | 1 | 0 | 1 | 250.0 | 3.7% |
| 9 | Davis Polk & Wardwell LLP | 250.0 | 1 | 1 | 0 | 250.0 | 3.7% |
| 10 | Shearman & Sterling LLP | 172.5 | 1 | 0 | 1 | 172.5 | 2.6% |
| 11 | Loeb & Loeb LLP | 101.9 | 2 | 1 | 1 | 51.0 | 1.5% |
1H 2019
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|---|---|
| 1 | EGS | 3,369.3 | 14 | 8 | 6 | 240.7 | 24.8% |
| 2 | Skadden, Arps, Slate, Meagher & Flom LLP | 1,488.7 | 5 | 1 | 4 | 297.7 | 11.0% |
| 3 | Winston & Strawn LLP | 1,460.0 | 4 | 3 | 1 | 365.0 | 10.8% |
| 4 | Graubard Miller | 1,301.5 | 5 | 3 | 2 | 260.3 | 9.6% |
| 5 | Kirkland & Ellis LLP | 1,252.7 | 5 | 0 | 5 | 250.5 | 9.2% |
| 6 | Paul, Weiss, Rifkind, Wharton & Garrison LLP | 850.0 | 2 | 2 | 0 | 425.0 | 6.3% |
| 7 | Ropes & Gray LLP | 680.0 | 2 | 0 | 2 | 340.0 | 5.0% |
| 8 | Greenberg Traurig, LLP | 632.5 | 3 | 2 | 1 | 210.8 | 4.7% |
| 9 | Weil, Gotshal & Manges LLP | 630.0 | 2 | 1 | 1 | 315.0 | 4.6% |
| 10 | Shearman & Sterling LLP | 566.3 | 2 | 0 | 2 | 283.1 | 4.2% |
| 11 | Loeb & Loeb LLP | 276.0 | 4 | 4 | 0 | 69.0 | 2.0% |
| 12 | Vinson & Elkins LLP | 233.0 | 1 | 1 | 0 | 233.0 | 1.7% |
| 13 | Latham & Watkins LLP | 230.0 | 1 | 1 | 0 | 230.0 | 1.7% |
| 14 | Crowell & Moring, LLP | 172.5 | 1 | 1 | 0 | 172.5 | 1.3% |
| 15 | Ledgewood PC | 150.7 | 1 | 1 | 0 | 150.7 | 1.1% |
| 16 | Schiff Hardin LLP | 115.0 | 1 | 0 | 1 | 115.0 | 0.8% |
| 17 | Scarinci & Hollenbeck, LLC | 115.0 | 2 | 0 | 2 | 57.5 | 0.8% |
| 18 | Hunter Taubman Fischer & Li LLC | 46.0 | 1 | 0 | 1 | 46.0 | 0.3% |
Q2 2019
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|---|---|
| 1 | Winston & Strawn LLP | 1,460.0 | 4 | 3 | 1 | 365.0 | 21.3% |
| 2 | EGS | 1,246.3 | 5 | 4 | 1 | 249.3 | 18.1% |
| 3 | Kirkland & Ellis LLP | 952.5 | 4 | 0 | 4 | 238.1 | 13.9% |
| 4 | Paul, Weiss, Rifkind, Wharton & Garrison LLP | 850.0 | 2 | 2 | 0 | 425.0 | 12.4% |
| 5 | Graubard Miller | 687.5 | 2 | 0 | 2 | 343.8 | 10.0% |
| 6 | Greenberg Traurig, LLP | 460.0 | 2 | 1 | 1 | 230.0 | 6.7% |
| 7 | Skadden, Arps, Slate, Meagher & Flom LLP | 400.0 | 1 | 0 | 1 | 400.0 | 5.8% |
| 8 | Shearman & Sterling LLP | 316.3 | 1 | 0 | 1 | 316.3 | 4.6% |
| 9 | Crowell & Moring, LLP | 172.5 | 1 | 1 | 0 | 172.5 | 2.5% |
| 10 | Loeb & Loeb LLP | 161.0 | 2 | 2 | 0 | 80.5 | 2.3% |
| 11 | Schiff Hardin LLP | 115.0 | 1 | 0 | 1 | 115.0 | 1.7% |
| 12 | Hunter Taubman Fischer & Li LLC | 46.0 | 1 | 0 | 1 | 46.0 | 0.7% |
Q1 2019
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|---|---|
| 1 | Ellenoff Grossman & Schole LLP | 2,078.3 | 9 | 4 | 5 | 230.9 | 31.5% |
| 2 | Skadden, Arps, Slate, Meagher & Flom LLP | 1,083.2 | 4 | 1 | 3 | 270.8 | 16.4% |
| 3 | Ropes & Gray LLP | 680.0 | 2 | 0 | 2 | 340.0 | 10.3% |
| 4 | Weil, Gotshal & Manges LLP | 630.0 | 2 | 1 | 1 | 315.0 | 9.6% |
| 5 | Graubard Miller | 614.0 | 3 | 3 | 0 | 204.7 | 9.3% |
| 6 | Kirkland & Ellis LLP | 261.0 | 1 | 0 | 1 | 261.0 | 4.0% |
| 7 | Shearman & Sterling LLP | 250.0 | 1 | 0 | 1 | 250.0 | 3.8% |
| 8 | Vinson & Elkins LLP | 233.0 | 1 | 1 | 0 | 233.0 | 3.5% |
| 9 | Latham & Watkins LLP | 230.0 | 1 | 1 | 0 | 230.0 | 3.5% |
| 10 | Greenberg Traurig, LLP | 172.5 | 1 | 1 | 0 | 172.5 | 2.6% |
| 11 | Ledgewood PC | 150.7 | 1 | 1 | 0 | 150.7 | 2.3% |
| 12 | Loeb & Loeb LLP | 107.5 | 2 | 2 | 0 | 53.8 | 1.6% |
| 13 | Scarinci & Hollenbeck, LLC | 107.5 | 2 | 0 | 2 | 53.8 | 1.6% |
FY 2018
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|---|---|
| 1 | EGS | 4,467.3 | 22 | 16 | 6 | 203.1 | 20.8% |
| 2 | Skadden, Arps, Slate, Meagher & Flom LLP | 3,216.8 | 10 | 1 | 9 | 321.7 | 15.0% |
| 3 | Winston & Strawn LLP | 2,394.3 | 7 | 4 | 3 | 342.0 | 11.1% |
| 4 | Graubard Miller | 2,261.5 | 15 | 5 | 10 | 150.8 | 10.5% |
| 5 | Greenberg Traurig, LLP | 1,394.7 | 7 | 5 | 2 | 199.2 | 6.5% |
| 6 | Freshfields Bruckhaus Deringer US LLP | 1,252.5 | 3 | 0 | 3 | 417.5 | 5.8% |
| 7 | Kirkland | 1,145.8 | 4 | 2 | 2 | 286.4 | 5.3% |
| 8 | Davis Polk & Wardwell LLP | 740.0 | 2 | 1 | 1 | 370.0 | 3.4% |
| 9 | Paul, Weiss, Rifkind, Wharton & Garrison LLP | 690.0 | 1 | 1 | 0 | 690.0 | 3.2% |
| 10 | Loeb & Loeb LLP | 579.4 | 7 | 3 | 4 | 82.8 | 2.7% |
| 11 | Vinson & Elkins | 552.0 | 1 | 1 | 0 | 552.0 | 2.6% |
| 12 | Thompson & Knight LLP | 414.0 | 1 | 1 | 0 | 414.0 | 1.9% |
| 13 | Ropes & Gray | 400.0 | 1 | 0 | 1 | 400.0 | 1.9% |
| 14 | Weil Gotshal | 400.0 | 1 | 1 | 0 | 400.0 | 1.9% |
| 15 | Gibson, Dunn & Crutcher LLP | 345.0 | 1 | 1 | 0 | 345.0 | 1.6% |
| 16 | Ledgewood | 345.0 | 1 | 1 | 0 | 345.0 | 1.6% |
| 17 | McDermott Will & Emery | 201.3 | 1 | 0 | 1 | 201.3 | 0.9% |
| 18 | Venable LLP | 155.3 | 1 | 1 | 0 | 155.3 | 0.7% |
| 19 | Schiff Hardin LLP | 133.3 | 2 | 0 | 2 | 66.6 | 0.6% |
| 20 | Fox Rothschild LLP | 125.0 | 1 | 1 | 0 | 125.0 | 0.6% |
| 21 | Holland & Knight, LLP | 115.0 | 1 | 0 | 1 | 115.0 | 0.5% |
| 22 | White and Williams LLP | 114.9 | 1 | 1 | 0 | 114.9 | 0.5% |
| 23 | Hunter Taubman Fischer & Li LLC | 46.0 | 1 | 0 | 1 | 46.0 | 0.2% |
Q4 2018
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|---|---|
| 1 | EGS | 1,060.5 | 4 | 3 | 1 | 265.1 | 21.0% |
| 2 | Skadden, Arps, Slate, Meagher & Flom LLP | 839.3 | 4 | 0 | 4 | 209.8 | 16.6% |
| 3 | Graubard Miller | 712.7 | 5 | 1 | 4 | 142.5 | 14.1% |
| 4 | Winston & Strawn LLP | 683.8 | 2 | 2 | 0 | 341.9 | 13.6% |
| 5 | Davis Polk & Wardwell LLP | 440.0 | 1 | 0 | 1 | 440.0 | 8.7% |
| 6 | Greenberg Traurig, LLP | 385.7 | 3 | 3 | 0 | 128.6 | 7.6% |
| 7 | Ledgewood | 345.0 | 1 | 1 | 0 | 345.0 | 6.8% |
| 8 | Loeb & Loeb LLP | 184.9 | 2 | 1 | 1 | 92.4 | 3.7% |
| 9 | Kirkland & Ellis LLP | 143.8 | 1 | 1 | 0 | 143.8 | 2.9% |
| 10 | Schiff Hardin LLP | 133.3 | 2 | 0 | 2 | 66.6 | 2.6% |
| 11 | White and Williams LLP | 114.9 | 1 | 1 | 0 | 114.9 | 2.3% |
Q3 2018
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg. Size | Mkt Share (%) |
|---|---|---|---|---|---|---|---|
| 1 | Ellenoff Grossman & Schole LLP | 916.0 | 7 | 6 | 1 | 130.9 | 17.6% |
| 2 | Winston & Strawn LLP | 890.0 | 2 | 0 | 2 | 445.0 | 17.1% |
| 3 | Paul, Weiss, Rifkind, Wharton & Garrison LLP | 690.0 | 1 | 1 | 0 | 690.0 | 13.2% |
| 4 | Graubard Miller | 568.8 | 3 | 1 | 2 | 189.6 | 10.9% |
| 5 | Vinson & Elkins LLP | 552.0 | 1 | 1 | 0 | 552.0 | 10.6% |
| 6 | Kirkland & Ellis LLP | 552.0 | 1 | 0 | 1 | 552.0 | 10.6% |
| 7 | Ropes & Gray LLP | 400.0 | 1 | 0 | 1 | 400.0 | 7.7% |
| 8 | Weil, Gotshal & Manges LLP | 400.0 | 1 | 1 | 0 | 400.0 | 7.7% |
| 9 | Loeb & Loeb LLP | 193.3 | 4 | 1 | 3 | 48.3 | 3.7% |
| 10 | Hunter Taubman Fischer & Li LLC | 46.0 | 1 | 0 | 1 | 46.0 | 0.9% |
1H 2018
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|---|---|
| 1 | Ellenoff Grossman & Schole LLP | 2,485.8 | 11 | 8 | 3 | 226.0 | 22.3% |
| 2 | Skadden, Arps, Slate, Meagher & Flom LLP | 2,377.5 | 6 | 1 | 5 | 396.3 | 21.3% |
| 3 | Freshfields Bruckhaus Deringer US LLP | 1,215.0 | 3 | 0 | 3 | 405.0 | 10.9% |
| 4 | Greenberg Traurig, LLP | 1,009.0 | 4 | 2 | 2 | 252.3 | 9.0% |
| 5 | Graubard Miller | 975.0 | 7 | 2 | 5 | 139.3 | 8.7% |
| 6 | Winston & Strawn LLP | 783.0 | 3 | 2 | 1 | 261.0 | 7.0% |
| 7 | Kirkland & Ellis LLP | 450.0 | 2 | 1 | 1 | 225.0 | 4.0% |
| 8 | Thompson & Knight LLP | 414.0 | 1 | 1 | 0 | 414.0 | 3.7% |
| 9 | Gibson, Dunn & Crutcher LLP | 345.0 | 1 | 1 | 0 | 345.0 | 3.1% |
| 10 | Davis Polk & Wardwell LLP | 300.0 | 1 | 1 | 0 | 300.0 | 2.7% |
| 11 | McDermott Will & Emery | 201.3 | 1 | 0 | 1 | 201.3 | 1.8% |
| 12 | Loeb & Loeb LLP | 201.3 | 1 | 1 | 0 | 201.3 | 1.8% |
| 13 | Venable | 155.3 | 1 | 1 | 0 | 155.3 | 1.4% |
| 14 | Fox Rothschild LLP | 125.0 | 1 | 1 | 0 | 125.0 | 1.1% |
| 15 | Holland & Knight, LLP | 115.0 | 1 | 0 | 1 | 115.0 | 1.0% |
Q2 2018
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg. Size | Mkt Share (%) |
|---|---|---|---|---|---|---|---|
| 1 | Ellenoff Grossman & Schole LLP | 1,647.8 | 6 | 4 | 2 | 274.6 | 24.0% |
| 2 | Skadden, Arps, Slate, Meagher & Flom LLP | 1,552.5 | 3 | 1 | 2 | 517.5 | 22.6% |
| 3 | Freshfields Bruckhaus Deringer US LLP | 940.0 | 2 | 0 | 2 | 470.0 | 13.7% |
| 4 | Greenberg Traurig, LLP | 644.0 | 2 | 1 | 1 | 322.0 | 9.4% |
| 5 | Graubard Miller | 515.0 | 3 | 0 | 3 | 171.7 | 7.5% |
| 6 | Thompson & Knight LLP | 414.0 | 1 | 1 | 0 | 414.0 | 6.0% |
| 7 | Gibson, Dunn & Crutcher LLP | 345.0 | 1 | 1 | 0 | 345.0 | 5.0% |
| 8 | Graubard Miller | 257.0 | 2 | 0 | 2 | 128.5 | 3.7% |
| 9 | Winston & Strawn LLP | 250.0 | 1 | 1 | 0 | 250.0 | 3.6% |
| 10 | McDermott Will & Emery | 201.3 | 1 | 0 | 1 | 201.3 | 2.9% |
| 11 | Loeb & Loeb LLP | 201.3 | 1 | 1 | 0 | 201.3 | 2.9% |
| 12 | Venable LLP | 155.3 | 1 | 1 | 0 | 155.3 | 2.3% |
Q1 2018
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg. Size ($mm) | Market Share (%) |
|---|---|---|---|---|---|---|---|
| 1 | Ellenoff Grossman & Schole LLP | 838.0 | 5 | 4 | 1 | 167.6 | 19.6 |
| 2 | Skadden, Arps, Slate, Meagher & Flom LLP | 825.0 | 3 | 0 | 3 | 275.0 | 19.3 |
| 3 | Winston & Strawn LLP | 533.0 | 2 | 1 | 1 | 266.5 | 12.5 |
| 4 | Graubard Miller | 456.5 | 4 | 2 | 2 | 114.1 | 10.7 |
| 5 | Kirkland & Ellis LLP | 450.0 | 2 | 1 | 1 | 225.0 | 10.5 |
| 6 | Greenberg Traurig, LLP | 365.0 | 2 | 1 | 1 | 182.5 | 8.5 |
| 7 | Davis Polk & Wardwell LLP | 300.0 | 1 | 1 | 0 | 300.0 | 7.0 |
| 8 | Freshfields Bruckhaus Deringer US LLP | 275.0 | 1 | 0 | 1 | 275.0 | 6.4 |
| 9 | Fox Rothschild LLP | 125.0 | 1 | 1 | 0 | 125.0 | 2.9 |
| 10 | Holland & Knight, LLP | 111.5 | 1 | 0 | 1 | 111.5 | 2.6 |
2017
| Rank | Law Firm | Volume ($mm) | Deal Count (Total) | Deal Count (Issuer's Counsel) | Deal Count (UW's Counsel) | Avg. Size ($mm) | Market Share (%) |
|---|---|---|---|---|---|---|---|
| 1 | Weil, Gotshal & Manges LLP | 3,892.0 | 7 | 5 | 2 | 556.0 | 19.7 |
| 2 | Ellenoff Grossman & Schole LLP | 2,763.9 | 13 | 11 | 2 | 212.6 | 14.0 |
| 3 | Skadden, Arps, Slate, Meagher & Flom LLP | 2,475.4 | 8 | 1 | 7 | 309.4 | 12.5 |
| 4 | Vinson & Elkins LLP | 1,932.0 | 3 | 2 | 1 | 644.0 | 9.8 |
| 5 | Graubard Miller | 1,746.7 | 9 | 2 | 7 | 194.1 | 8.8 |
| 6 | Freshfields Bruckhaus Deringer US LLP | 1,675.0 | 4 | 0 | 4 | 418.8 | 8.5 |
| 7 | Greenberg Traurig, LLP | 799.0 | 4 | 1 | 3 | 199.8 | 4.0 |
| 8 | Shearman & Sterling LLP | 690.0 | 1 | 0 | 1 | 690.0 | 3.5 |
| 9 | Winston & Strawn LLP | 607.3 | 2 | 1 | 1 | 303.7 | 3.1 |
| 10 | Loeb & Loeb LLP | 531.8 | 4 | 2 | 2 | 133.0 | 2.7 |
| 11 | Akin Gump Strauss Hauer & Feld LLP | 460.0 | 1 | 0 | 1 | 460.0 | 2.3 |
| 12 | Ledgewood | 450.0 | 2 | 2 | 0 | 225.0 | 2.3 |
| 13 | Davis Polk & Wardwell LLP | 402.5 | 1 | 0 | 1 | 402.5 | 2.0 |
| 14 | Paul, Weiss, Rifkind, Wharton & Garrison LLP | 345.0 | 1 | 1 | 0 | 345.0 | 1.7 |
| 15 | Kirkland & Ellis LLP | 300.0 | 1 | 1 | 0 | 300.0 | 1.5 |
| 16 | Jones Day | 207.0 | 1 | 1 | 0 | 207.0 | 1.0 |
| 17 | Proskauer Rose LLP | 200.0 | 1 | 1 | 0 | 200.0 | 1.0 |
| 18 | Crowell & Moring LLP | 143.5 | 1 | 1 | 0 | 143.5 | 0.7 |
| 19 | Akerman LLP | 69.0 | 1 | 1 | 0 | 69.0 | 0.3 |
| 20 | Hunter Taubman Fischer & Li LLC | 60.4 | 1 | 1 | 0 | 60.4 | 0.3 |
| 21 | Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. | 44.3 | 1 | 0 | 1 | 44.3 | 0.2 |
YTD 2020
| Rank | Auditor | Volume ($mm) | Deal Count (Total) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|
| 1 | WithumSmith+Brown, PC | 25,172.4 | 69 | 364.8 | 57.5% |
| 2 | Marcum LLP | 15,715.4 | 38 | 413.6 | 35.9% |
| 3 | KPMG LLP | 950.0 | 2 | 475.0 | 2.2% |
| 4 | Pricewaterhousecoopers LLP | 750.0 | 1 | 750.0 | 1.7% |
| 5 | Frank, Rimerman + Co. LLP | 402.5 | 1 | 402.5 | 0.9% |
| 6 | Grant Thornton LP | 230.0 | 1 | 230.0 | 0.5% |
| 7 | Plante & Moran, PLLC | 225.0 | 1 | 225.0 | 0.5% |
| 8 | BPM LLP | 200.0 | 1 | 200.0 | 0.5% |
| 9 | Prager Metis CPAs LLC | 100.0 | 1 | 100.0 | 0.2% |
| 10 | Marcum Bernstein & Pinchuk LLP | 57.5 | 1 | 57.5 | 0.1% |
Q3 2020
| Rank | Auditor | Volume ($mm) | Deal Count (Total) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|
| 1 | WithumSmith+Brown, PC | 19,540.8 | 53 | 368.7 | 61.0% |
| 2 | Marcum LLP | 11,026.7 | 22 | 501.2 | 34.4% |
| 3 | KPMG LLP | 525.0 | 1 | 525.0 | 1.6% |
| 4 | Frank, Rimerman + Co. LLP | 402.5 | 1 | 402.5 | 1.3% |
| 5 | Grant Thornton LP | 230.0 | 1 | 230.0 | 0.7% |
| 6 | Plante & Moran, PLLC | 225.0 | 1 | 225.0 | 0.7% |
| 7 | Prager Metis CPAs LLC | 100.0 | 1 | 100.0 | 0.3% |
1H 2020
| Rank | Auditor | Volume ($mm) | Deal Count (Total) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|
| 1 | WithumSmith+Brown, PC | 5,631.6 | 16 | 352.0 | 48.1% |
| 2 | Marcum LLP | 4,688.7 | 16 | 293.0 | 40.1% |
| 3 | Pricewaterhousecoopers LLP | 700.0 | 1 | 700.0 | 6.0% |
| 4 | KPMG LLP | 425.0 | 1 | 425.0 | 3.6% |
| 5 | BPM LLP | 200.0 | 1 | 200.0 | 1.7% |
| 6 | Marcum Bernstein & Pinchuk LLP | 57.5 | 1 | 57.5 | 0.5% |
Q2 2020
| Rank | Auditor | Volume ($mm) | Deal Count (Total) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|
| 1 | WithumSmith+Brown, PC | 3,933.0 | 9 | 437.0 | 50.6% |
| 2 | Marcum LLP | 2,944.7 | 12 | 245.4 | 37.9% |
| 3 | Pricewaterhousecoopers LLP | 700.0 | 1 | 700.0 | 9.0% |
| 4 | BPM LLP | 200.0 | 1 | 200.0 | 2.6% |
Q1 2020
| Rank | Auditor | Volume ($mm) | Deal Count (Total) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|
| 1 | Marcum LLP | 1,744.0 | 4 | 436.0 | 44.4% |
| 2 | WithumSmith+Brown, PC | 1,698.6 | 7 | 242.7 | 43.3% |
| 3 | KPMG LLP | 425.0 | 1 | 425.0 | 10.8% |
| 4 | Marcum Bernstein & Pinchuk LLP | 57.5 | 1 | 57.5 | 1.5% |
FY 2019
| Rank | Auditor | Volume ($mm) | Deal Count (Total) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|
| 1 | Marcum LLP | 6,648.8 | 29 | 229.3 | 48.9% |
| 2 | WithumSmith+Brown, PC | 5,164.6 | 21 | 245.9 | 38.0% |
| 3 | Grant Thornton LP | 984.4 | 4 | 246.1 | 7.2% |
| 4 | KPMG LLP | 400.0 | 1 | 400.0 | 2.9% |
| 5 | BPM LLP | 172.5 | 1 | 172.5 | 1.3% |
| 6 | Malone Bailey LLP | 115.0 | 1 | 115.0 | 0.8% |
| 7 | RBSM LLP | 57.5 | 1 | 57.5 | 0.4% |
| 8 | UHY LLP | 57.5 | 1 | 57.5 | 0.4% |
Q4 2019
| Rank | Auditor | Volume ($mm) | Deal Count (Total) | Avg Size ($mm) | % Mkt Share |
|---|---|---|---|---|---|
| 1 | Marcum LLP | 1,788.8 | 9 | 198.8 | 52.9% |
| 2 | WithumSmith+Brown, PC | 1,333.0 | 7 | 190.4 | 39.4% |
| 3 | Grant Thornton LP | 258.8 | 1 | 258.8 | 7.7% |
Source: SPACInsider; SEC.gov
One Comments “League Tables”