The IPO market was reinvigorated in 2021, breaking prior records. In aggregate, in 2021, there were 407 IPOs, which raised $139.3 billion in proceeds. As companies stay private longer, market capitalization of public companies at IPO continues to rise. The median market capitalization for an IPO issuer in 2021 was $928.1 million, with a median
Webinar: SEC and Other Developments Affecting Private Capital Markets
November 17, 2020 Webinar
11:00 a.m. – 12:00 p.m. EST
Register here.
For a number of years now, significantly more capital has been raised by companies in the US private markets than in US SEC-registered offerings. In IFLR’s recently published book, A Deep Dive into Capital Raising Alternatives, changes brought about to the
A Deep Dive Into Capital Raising Alternatives: IFLR’s New Book and Free Webinars
In the International Financial Law Review’s latest publication, A Deep Dive Into Capital Raising Alternatives, Mayer Brown provides context on the changes in market structure and market dynamics that led to the enactment of the JOBS Act. Specifically, the trend for many private companies to remain private longer, defer or dispense with traditional
PLI’s Private Placements and Hybrid Securities Offerings
April 20-21
For additional details, or to register, please visit the event website.
Please note, PLI’s Private Placements and Hybrid Securities Offerings conference will be held via webcast this year.
This two day PLI seminar will feature panel discussions covering the basics of private placements, resales of restricted securities, Section 4(a)(1-1/2) transactions and block
Insights from Chair Clayton on SEC Priorities
At the Economic Club of New York, in keynote remarks, Chair Clayton reviewed the Securities and Exchange Commission’s recent initiatives. He highlighted the Commission’s adoption of Regulation Best Interest (Reg BI). Repeating a common theme, Chair Clayton discussed concerns relating to increased reliance on the private capital markets. Clayton noted that, while twenty-five years ago,
Legal Update: Testing the Waters for All? Proposed New Rule Would Expand Accommodation to All Issuers
Since the Jumpstart Our Business Startups (JOBS) Act was enacted in 2012, emerging growth companies (EGCs) have benefited from the opportunity to test the waters with investors and gauge interest in a potential offering. Title I of the JOBS Act amended Section 5 of the Securities Act of 1933 (the Securities Act) in order to
SEC Proposes to Expand “Test the Waters” Modernization Reform to All Issuers
The Securities and Exchange Commission took the long-awaited step of proposing rules for comment that would extend the ability to test the waters beyond emerging growth companies, or EGCs. This topic, of extending the test the waters communications, had been the subject of proposed legislation in the last session of Congress and had made its
SIFMA Insights: US Equity Capital Formation Primer
In November 2018, SIFMA published another primer in its recently introduced series on capital formation–this one titled “An exploration of the IPO process and listings exchanges”. The primer provides interesting statistics on IPO trends.
The primer notes the decline in the number of US listed companies. The number of listed companies peaked in 1996 at
Heritage Foundation Hosts Discussion on the JOBS Act
On October 23, 2018, the Heritage Foundation hosted a discussion entitled, “Problems with the JOBS Act and How They Can Be Fixed” that featured University of Kentucky College of Law Professor Rutherford B. Campbell. The discussion centered on the impact of the 2012 Jumpstart Our Business Startups Act (the “JOBS Act”), its benefits, its shortcomings,
IFR Special Report: 2018 US ECM Roundtable
Partner Anna Pinedo joined IFR’s US ECM Roundtable for a panel discussion that assessed the current state of the market, discussed the latest trends and developments, and gave an outlook for the remainder of the year and beyond. Topics included the state of the IPO market; private capital to public markets; JOBS Act 3.0; SPACs