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
The Situation: The Staffs of the Divisions of Corporation Finance, Investment Management and Trading and Markets ("Divisions") of the U.S. Securities and Exchange Commission ("SEC") and its Office of the Chief Accountant...more
7/19/2019
/ Banking Sector ,
Broker-Dealer ,
Corporate Counsel ,
Disclosure Requirements ,
Investment ,
Investment Adviser ,
ISDA ,
Joint Statements ,
Libor ,
Market Participants ,
New Guidance ,
Registration Statement ,
Secured Overnight Funding Rate (SOFR) ,
Securities and Exchange Commission (SEC) ,
Working Groups
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