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Navigating the IPO Landscape: 5 Key Insights for Success in Today’s Market

The IPO market is regaining momentum. While recent years brought turbulence—from macroeconomic uncertainty to shifting investor sentiment and evolving regulatory pressures—those challenges have given way to renewed opportunity. Companies that stayed focused, refined their strategies, and invested in readiness are now seeing the payoff as public markets begin to open. With optimism returning and activity picking up, companies preparing to access the capital markets have a chance to turn preparation into execution.

Here are five key insights to help guide your IPO journey.

1. IPOs Are Rebounding—Preparation Pays Off

In Q3 2025, the IPO window reopened with approximately 64 IPOs raising a combined $15.3 billion in the biggest quarter for new issuances since 2021. Companies that continued to invest in their accounting, finance, and governance infrastructure were able to take advantage of the demand. The deal pipeline continues to remain robust, and well-prepared companies will be able to take advantage.

2. PE-Exits – Compelling Narratives Create Momentum

IPOs continue to remain a strategic option for private equity firms, for investors to cash out and realize a return on their investment. PE-backed AI, cloud infrastructure, fintech, and health tech companies were able to fuel investor enthusiasm by delivering strong trading trends. The shift in market sentiment now allows PE firms to adjust valuation expectations and adapt to market volatility. Companies that can achieve and maintain IPO-readiness across their organization are also well-positioned for alternative exits like M&A, secondary buyouts, or dual listings.

3. SEC Guidance Allows Companies to Proceed with IPOs During Shutdown

Under updated guidance from the SEC, companies can launch an IPO during the government shutdown by having the option of choosing to have their registration statement automatically declared effective 20 days later. During this time of uncertainty with the US government, companies will need to navigate the risks associated with launching with an extended effectiveness window and maintaining an eye on the calendar related to staleness of financial information.

4. SPACs Continue to Evolve

Through SEC reforms, SPAC and de-SPAC transactions have closely aligned with IPO standards. And today’s SPAC deals demand the same rigor as traditional IPOs, including robust governance, transparent financials, and operational readiness. SPACs remain viable, especially for companies with strong fundamentals and a clear growth story. For companies that meet these standards, SPACs offer flexibility and speed, particularly in sectors where innovation is outpacing traditional market cycles.

5. Focus on What You Can Control

In an evolving market, the most effective strategy is investing in internal readiness. Companies that prioritize strong governance, steadfast financial reporting, and managing investor expectations are better positioned to succeed, regardless of timing. Operational discipline and cultural alignment also play a key role in preparing teams for the demands of being a public company. By focusing on controllable factors, companies can build momentum and be ready to act. Investors reward consistency and transparency, especially in uncertain times. The more prepared you are, the more confident you will be when opportunity arrives.

How Centri Can Help

Navigating the path to an IPO—whether through traditional means, SPAC, or a direct listing—requires more than ambition. It demands precision, preparation, and trusted guidance. Centri’s team of experts brings deep experience across financial reporting, IPO readiness, and governance. We work alongside management teams to build the infrastructure, discipline, and confidence needed to meet public company standards. Contact us to learn how we can help your company.

Christopher Mora

Chief Revenue Officer & Partner | Capital Markets Practice Leader | CPA

Christopher is the Chief Revenue Officer & Partner at Centri Business Consulting. He is the leader of the firm’s SEC Financial Reporting and Capital Markets Practice and specializes in the delivery of capital market readiness and financial reporting to clients across several industries, including fintech, financial services, life sciences, health/wellness, telecommunications, private equity, real estate, and construction. View Christopher Mora's Full Bio

Derek Kearns

Partner | SEC, Financial Reporting & SPAC Practice Leader | CPA

Derek is a Partner at Centri Business Consulting and the leader of the firm’s SEC, Financial Reporting, & SPAC Practice. He has more than 23 years of accounting experience in both public and private industries. View Derek Kearns's Full Bio