How much does an IPO cost?

IPOs are the most expensive path to the public markets. Beyond underwriting fees, which typically range from 6–8% of proceeds, companies also face millions in legal, accounting, marketing, and compliance costs. For a $15 million raise, total fees could exceed $1.5 million.

Many founders are shocked when they realize just how much of their raised capital goes to intermediaries. The myth that IPOs are the “only” way to go public keeps entrepreneurs from exploring more affordable alternatives that achieve the same public status at a fraction of the price.

Meraki Partners provides clarity in these cost comparisons. We show entrepreneurs what an IPO will truly cost versus what a direct listing or reverse merger might require. Because we’re not incentivized by underwriting, our advice is independent and founder-first.



This allows companies to choose wisely. With our guidance, founders often discover they can unlock the benefits of being public without the burden of multimillion-dollar banker fees.