Securities,
Corporate
Jan. 25, 2021
Direct listings: expanding the paths to public
There is not a one-size-fits-all direction and there are several key distinctions between the two types of going public options, distinctions that ensure both have a place in the new IPO landscape.
Sara L. Terheggen
Founder and Managing Director
The NBD Group, Inc.
UC Berkeley Boalt Hall
The NBD Group, Inc., a leading legal and business solutions firm. Dr. T has advised on transactions with an aggregate value of more than $110 billion, including more than 20 IPOs, and she has been recognized close to 50 times for her professional expertise and leadership.
While 2020 was a tumultuous year on many fronts as a result of COVID-19 and the election, the capital markets couldn't be bothered. It was too busy doing deals. 2020 was a great year for companies going public. In fact, traditional initial public offerings had their best year since 2014. Estimates indicate 194 companies went public in 2020, raising $67 billion in capital. In addition to traditional IPOs, 248 SPACs raised around $83 billion in...
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