Considering an IPO? IPO Cost Calculator
Listing your company on a stock exchange can significantly enhance your growth potential by calculating cost with IPO Cost Calculator, increase your brand’s visibility, and provide access to substantial funding.
Considering an IPO? First, understand the costs
Listing your company on a stock exchange can significantly enhance your growth potential, increase your brand’s visibility, and provide access to substantial funding.
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IPO Valuation Calculator
Our IPO Valuation Calculator help you navigate the complexities of IPO costs, from underwriting fees to legal, accounting, and beyond.
Underwriting fee
- Investment banks typically charge fees ranging from 4.1% to 7.0% of the total IPO proceeds. These fees cover the banks’ efforts to market, price, and sell the company’s shares to the public.
| Deal value ranges | Average UW fee % | Average investment banks on a deal* |
|---|---|---|
| $25m to $99m | 7.0% | 4 |
| $100m to $249m | 6.9% | 6 |
| $250m to $499m | 6.3% | 9 |
| $500m to $1bn | 5.5% | 12 |
| Greater than $1bn | 4.1% | 16 |
*includes underwriters and co-managers
Underwriting fee
- Investment banks typically charge fees ranging from 4.1% to 7.0% of the total IPO proceeds. These fees cover the banks’ efforts to market, price, and sell the company’s shares to the public.
| Deal value ranges | Average UW fee % | Average investment banks on a deal* |
|---|---|---|
| $25m to $99m | 7.0% | 4 |
| $100m to $249m | 6.9% | 6 |
| $250m to $499m | 6.3% | 9 |
| $500m to $1bn | 5.5% | 12 |
| Greater than $1bn | 4.1% | 16 |
*includes underwriters and co-managers
- Performance of due diligence on the company’s operations, management and business
- Drafting of the Form S-1 (a required SEC registration statement) and providing other advice related to the offering
- Managing S-1 filings, SEC comments and responses, and coordination with the SEC
- Interactions with the underwriter, their counsel and other matters directly related to the offering
- Advice on matters related to going public
- In certain filings, the costs of underwriter counsel is reflected in the miscellaneous costs category
- Performance of due diligence on the company’s operations, management and business
- Drafting of the Form S-1 (a required SEC registration statement) and providing other advice related to the offering
- Managing S-1 filings, SEC comments and responses, and coordination with the SEC
- Interactions with the underwriter, their counsel and other matters directly related to the offering
- Advice on matters related to going public
- In certain filings, the costs of underwriter counsel is reflected in the miscellaneous costs category
- Accounting advisor fees associated with technical accounting and financial reporting issues that are directly attributable to the offering
- Accounting advisor fees associated with the quarterization of financial results (if only required by investment banks and not Regulation S-X)
- Accounting advisor fees related to preparation of the Form S-1
- Review of SEC filings
- Interactions with underwriters, underwriter counsel and external company counsel on matters directly related to the offering
- Comfort letter issuance
- Advice on non-audit matters, specifically relating to the offering, e.g., non-GAAP measures and key performance indicators in MD&A
- Accounting advisor fees associated with technical accounting and financial reporting issues that are directly attributable to the offering
- Accounting advisor fees associated with the quarterization of financial results (if only required by investment banks and not Regulation S-X)
- Accounting advisor fees related to preparation of the Form S-1
- Review of SEC filings
- Interactions with underwriters, underwriter counsel and external company counsel on matters directly related to the offering
- Comfort letter issuance
- Advice on non-audit matters, specifically relating to the offering, e.g., non-GAAP measures and key performance indicators in MD&A
- Document management
- SEC filing, printing, and distribution
- Digital and XBRL support
- Document management
- SEC filing, printing, and distribution
- Digital and XBRL support
Companies incur SEC registration costs in filing with the SEC. Those are calculated at a rate of $110.20 per $1,000,000 of the aggregate offering amount.
- Document management
Companies incur SEC registration costs in filing with the SEC. Those are calculated at a rate of $110.20 per $1,000,000 of the aggregate offering amount.
- Document management
- Document management
- Document management
| NASDAQ: | Â | NYSE: |
| Capital Market | Global (Select) Market | Â |
| $50000 – $75,000 | $270,000 | Flat rate of $295,000 |
| (<15m, >15m shares) | Flat fee | Â |
| includes $5,000 application fee | includes $25,000 application fee | includes $25,000 application fee |
| Â | Â | Â |
| Annual fee | Annual fee | Annual fee |
| $47,000 – $84,000 | $50,000 – $173,500 | $0.001215 per share; $80,000 minimum |
| (<10m, >50m shares) | (<10m, >150m shares) | For primary common shares only |
- Document management
| NASDAQ: | Â | NYSE: |
| Capital Market | Global (Select) Market | Â |
| $50000 – $75,000 | $270,000 | Flat rate of $295,000 |
| (<15m, >15m shares) | Flat fee | Â |
| includes $5,000 application fee | includes $25,000 application fee | includes $25,000 application fee |
| Â | Â | Â |
| Annual fee | Annual fee | Annual fee |
| $47,000 – $84,000 | $50,000 – $173,500 | $0.001215 per share; $80,000 minimum |
| (<10m, >50m shares) | (<10m, >150m shares) | For primary common shares only |
- Document management
- Blue sky fees
- Transfer agent fees
- Reimbursement of underwriter costs (e.g., roadshow costs)
- Reimbursement of underwriter counsel costs, if not included in legal fees above
- Blue sky fees
- Transfer agent fees
- Reimbursement of underwriter costs (e.g., roadshow costs)
- Reimbursement of underwriter counsel costs, if not included in legal fees above
Several additional categories of costs are not disclosed within a company’s IPO prospectus. These costs primarily relate to various additional accounting and legal fees that are not considered to be directly attributable to an offering. For example, costs associated with year-end audits, including re-audits, as well as required quarterly reviews are not included within the disclosed accounting fees.
Separately, legal fees related to intellectual property, litigation, mergers and acquisitions, legal entity restructuring, and the drafting of new articles of incorporation, audit committee charter, by-laws, and other agreements are also not disclosed by registrants as a component of legal fees. Based upon our survey of executives of companies that completed an IPO, 43% said that accounting and financial reporting costs were higher than they expected. Thirty-seven percent also indicated that legal costs were also higher than anticipated.
- Blue sky fees
- Transfer agent fees
- Reimbursement of underwriter costs (e.g., roadshow costs)
- Reimbursement of underwriter counsel costs, if not included in legal fees above
Several additional categories of costs are not disclosed within a company’s IPO prospectus. These costs primarily relate to various additional accounting and legal fees that are not considered to be directly attributable to an offering. For example, costs associated with year-end audits, including re-audits, as well as required quarterly reviews are not included within the disclosed accounting fees.
Separately, legal fees related to intellectual property, litigation, mergers and acquisitions, legal entity restructuring, and the drafting of new articles of incorporation, audit committee charter, by-laws, and other agreements are also not disclosed by registrants as a component of legal fees. Based upon our survey of executives of companies that completed an IPO, 43% said that accounting and financial reporting costs were higher than they expected. Thirty-seven percent also indicated that legal costs were also higher than anticipated.
- Blue sky fees
- Transfer agent fees
- Reimbursement of underwriter costs (e.g., roadshow costs)
- Reimbursement of underwriter counsel costs, if not included in legal fees above
IPO COST CALCULATOR
Get a clear estimate of the costs associated with taking your company public. Our IPO Cost Calculator provides a detailed breakdown based on your sector, revenue range, and deal value range. Plan and budget effectively for your IPO with actionable insights from our experienced team.
IPO Cost Calculator
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