September 27, 2021

Going Public Topics on Small Business Capital Formation Advisory Committee Agenda

Today, the SEC’s Small Business Capital Formation Advisory Committee will meet, and the Committee plans to discuss changing dynamics for pre-IPO companies raising capital and the pathways those companies take to becoming public. Part of the discussion will focus on “crossover investors” (i.e., mutual funds and other traditional public company investors that now invest in late-stage, pre-IPO funding rounds) and how they are changing the dynamics of pre-IPO capital raising and impacting the timing to go public. The Committee will also discuss pathways going public, discussing “how companies and investors are weighing traditional IPOs, direct listings, and the re-emergence of mergers with special purpose acquisition companies.”

– Dave Lynn