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could be leading the pack of a wave of IPOs, ending a drought that has lasted a little more than a year.

The pharmaceutical and medical device company that owns popular drugstore brands like Tylenol, Band-Aid and Neutrogena announced on Tuesday it would spin off its consumer health division, Kenvue, and launch it on the public markets after raising $3.5 billion. The company would be valued at $40 billion.听

We鈥檝e heard rumblings from the private market that IPOs may be back after being abandoned for more than a year. Fast-fashion unicorn was supposedly in talks to consider an IPO this year, and payments platform explored going public in 2024 to address expiring shares.听

But this is the real deal. J&J , saying it would offer more than 151 million shares of stock at around $20 to $23 per share.听

The long list of anticipated IPOs

It鈥檚 not the only one. BranchOut Food, a snack foods startup, . After a failed SPAC merger, ticketing platform last week. And although yogurt company pulled its IPO in September, the CEO said .

It seems like companies are enthusiastic about making their debuts in the public market, and for good reason 鈥� the loan valve from two large, startup-friendly banks has effectively been shut off. Silicon Valley Bank collapsed, almost overnight, and , tightening credit conditions.听

It鈥檚 also true that many startups, after raising large volumes of capital in 2021, are starting to run out of money.听

It鈥檚 a sharp turn from two years ago, when more than 400 U.S.-based startups went public. In 2022, that number dwindled dramatically to 91, according to Crunchbase data.

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Illustration: Dom Guzman