Yesterday a major special purpose acquisition company (SPAC) merger announcement made some exciting news in cannabis. The Nasdaq-listed SPAC agreed to merge with four different US cannabis companies that are growing, processing and selling state-legal cannabis, with an over $200 million value. But the SPAC...
On August 26, 2020, the Securities and Exchange Commission approved allowing the New York Stock Exchange to permit "direct listings" of newly public companies. The Nasdaq has had this ability for several years- companies like Spotify took advantage of this alternative method of going public....
The last few months have witnessed a number of dramatic developments for American companies seeking capital in the fast-growing cannabis industry. In total, these changes portend greater access to funding for these companies. Here is more on these notable deals. (Note: none of the companies...
Last month, the Nasdaq quietly submitted a proposal to the SEC regarding Regulation A+. It is simple enough to quote: "Any Company listing on Nasdaq in connection with an offering under Regulation A of the Securities Act of 1933 must, at the time of approval...
Get the holiday theme? It hit me on the way to work. There seem to be two camps with views on how Regulation A+ is doing now that it has been over two years since the dismissal of two states' attempt to stop the new...
Following interest from companies like Spotify, the New York Stock Exchange last week received SEC approval to list companies on the Exchange even if they are not conducting an IPO. These direct listings, sometimes known as self-filings, already are permitted on the Nasdaq. The Exchange...
In a HUGE announcement last week, Nasdaq, Inc., the parent company of the various stock exchanges bearing that name, decided the exchanges should no longer be called NASDAQ. Instead they are "re-branding" as just plain Nasdaq, ie initial cap then lower case. Why? Well, the name...
On June 19, 2017, the New York Stock Exchange withdrew its proposal, originally submitted in March, to allow companies to list on the big board through a so-called "self-filing" without an IPO. In a self-filing, a company seeks for previously issued shares of stock to...
Duane Morris (and my) client Myomo Inc., a medical robotics company, completed its initial public offering on June 9, 2017 under SEC Regulation A+ created under the Jumpstart Our Business Startups (JOBS) Act of 2012. The historic deal is the first Reg A+ IPO to...
Update 1/24/2017- if you missed the webcast, the archived version can be found here. It's about an hour and a great intro/overview of Reg A+. I'm thrilled to be moderating a top-notch panel today in a webcast called "Bringing Back the Small Cap IPO: 2017 Reg...