04Sep
Newly Approved Direct Listing Capital Raising Alternative On Hold Pending SEC Review
For a fleeting moment, companies had the ability to raise capital on the New York Stock Exchange (“NYSE”) in connection with a direct listing (“primary direct listing”). On August 26, 2020, the Securities and Exchange Commission (“SEC”) approved a rule proposed by the NYSE that would permit companies to sell newly issued shares in connection with a direct listing. The rule was immediately effective upon SEC approval......
By:
Vinson & Elkins LLP
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