The Situation: In August 2020, the Division of Trading and Markets ("Division") of the U.S. Securities and Exchange Commission ("SEC") approved proposed rule changes by the New York Stock Exchange ("NYSE") to permit primary...more
The Situation: In an effort to modernize, simplify, and enhance certain financial disclosure requirements in Regulation S-K, the U.S. Securities and Exchange Commission ("SEC") proposed certain amendments on January 30,...more
Less than a week after the U.S. Securities and Exchange Commission ("SEC") rejected a proposed rule change to permit primary capital raising in direct listings, the New York Stock Exchange ("NYSE") submitted an updated...more
12/27/2019
/ Capital Raising ,
Direct Listing ,
Initial Public Offering (IPO) ,
Investment Banks ,
Listing Rules ,
NYSE ,
Popular ,
Privately Held Corporations ,
Proposed Amendments ,
Proposed Rules ,
Registration Statement ,
Securities and Exchange Commission (SEC) ,
Valuation
On December 6, 2019, the U.S. Securities and Exchange Commission rejected a proposed New York Stock Exchange ("NYSE") rule change that would allow companies to raise capital in a direct listing...more
12/13/2019
/ Capital Raising ,
Direct Listing ,
Initial Public Offering (IPO) ,
Investment Banks ,
Listing Rules ,
NYSE ,
Popular ,
Proposed Amendments ,
Proposed Rules ,
Registration Statement ,
Securities and Exchange Commission (SEC) ,
Valuation
The Situation: Direct listings, through which a company lists its shares on a national stock exchange without conducting a traditional initial public offering ("IPO"), have received significant attention from the media and...more
12/6/2019
/ Capital Raising ,
Direct Listing ,
Initial Public Offering (IPO) ,
Investment Banks ,
Listing Rules ,
NYSE ,
Proposed Amendments ,
Proposed Rules ,
Registration Statement ,
Securities and Exchange Commission (SEC) ,
Valuation
A proposed rule change would provide increased flexibility to issuers seeking to communicate with institutional investors earlier in the offering process.
On February 19, 2019, the U.S. Securities and Exchange Commission...more