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Alternative Routes to Going Public: Initial Public Offering, De-SPAC or Direct Listing

Insight

V&E Capital Markets Update

October 12, 2020
Alternative Routes to Going Public: Initial Public Offering, De-SPAC or Direct Listing Background Image
Insight

V&E Capital Markets Update

October 12, 2020

Private companies go public for a variety of reasons, including:

  • raising capital
  • providing liquidity for existing owners
  • establishing publicly traded currency for acquisitions

In this document we compare three routes to going public:

  • an initial public offering (“IPO”)
  • a merger with a special purpose acquisition company (“SPAC”), sometimes referred to as a “De-SPAC”
  • a direct listing of shares on a national securities exchange

Each route to a publicly traded company presents different considerations, positive and negative, for the company and its shareholders. Download “Alternative Routes to Going Public” for a summary of each route, along with a discussion of the considerations for each.

Resources

Alternative Routes to Going Public
pdf

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This information is provided by Vinson & Elkins LLP for educational and informational purposes only and is not intended, nor should it be construed, as legal advice.