News & Analysis as of

Initial Public Offering (IPO) Securities Regulation Investment

Orrick, Herrington & Sutcliffe LLP

SPAC (Re-)Attack: Top Considerations for Issuers Considering a De-SPAC Transaction

Continued volatility in the equity capital markets has revived what was thought to be a zombie after 2022 – the SPAC. There is an old investment banking mantra that they can do an IPO in a down market or an up market, but not...more

Herbert Smith Freehills Kramer

Australian Securities & Investments Commission clears path for faster IPOs

On 10 June 2025, ASIC announced two initiatives as part of a two-year trial designed to shorten the IPO process: ASIC will informally review pathfinder disclosure documents on a confidential basis two weeks prior to public...more

Blake, Cassels & Graydon LLP

Les ACVM annoncent des mesures destinées à renforcer la compétitivité des marchés canadiens

Étant donné l’incertitude persistante qui règne sur les marchés et qui a entraîné un ralentissement des premiers appels publics à l’épargne (les « PAPE ») au Canada au cours du premier trimestre de 2025, les Autorités...more

Davies Ward Phillips & Vineberg LLP

Securities Regulators Reduce Friction for Capital Raising with Incremental Changes to Prospectus Rules

Canadian securities regulators recently implemented three blanket orders introducing exemptions intended to reduce friction for capital raising. Key among these improvements is an exemption that eliminates the requirement for...more

Jones Day

Hard Launch: TXSE Goes Public

Jones Day on

TXSE (pronounced TEX-see) announced on April 4, 2025 that its Form 1 registration is now public, putting it one step closer to Y'all Street. The announcement touted its proprietary “matching engine" that it believes will make...more

Jones Day

EU Markets Become More Accessible to Small and Medium-Sized Enterprises Thanks to Changes to the EU Prospectus Regulation: A...

Jones Day on

The European Union ("EU") Listing Act, approved by the EU Council on October 8, 2024, introduces key changes to the EU Prospectus Regulation, offering greater flexibility to access and issue securities on EU markets for small...more

Mayer Brown Free Writings + Perspectives

FINRA Proposes to Exempt BDCs from its IPO Purchase Restriction Rules

On March 20, 2025, the Financial Industry Regulatory Authority (FINRA) proposed amendments to its rules imposing restrictions on the purchase and sale of equity securities offered in initial public offerings (IPOs) (Rule...more

Wyrick Robbins Yates & Ponton LLP

Enhanced Accommodations for Issuers Submitting Draft Registration Statements

On March 3, 2025, the Securities and Exchange Commission’s (the “SEC’s”) Division of Corporation Finance announced that it is expanding the accommodations available for issuers that submit draft registration statements for...more

Mayer Brown Free Writings + Perspectives

House Financial Services Committee Solicits Public Feedback on Legislative Proposals to Facilitate Capital Formation

Earlier this month, the US House of Representative’s Financial Services Committee (the “Committee”) held a hearing entitled “The Future of American Capital: Strengthening Public and Private Markets by Increasing Investor...more

Wilson Sonsini Goodrich & Rosati

2024 Technology and Life Sciences IPO Report

Wilson Sonsini's 2024 Technology and Life Sciences IPO Report provides in-depth analysis on 33 initial public offerings (IPOs) completed by U.S.-based technology and life sciences companies in 2024 with deal values exceeding...more

DLA Piper

An Alternative Approach to Access Capital and Liquidity – Why US Companies Should Consider an ASX Listing

DLA Piper on

A number of US companies have gone public in Australia as an alternative to a further private round in the US. While the ASX may not be an obvious alternative to US capital markets, there are a number of reasons why the it...more

Skadden, Arps, Slate, Meagher & Flom LLP

Betting on the ‘Trump Trade’ To Make the Capital Markets Great Again

The capital markets reacted enthusiastically to the end of election uncertainty, and expectations of lower taxes, less regulation and more business-friendly policies....more

Mayer Brown Free Writings + Perspectives

Market Outlook for IPOs in 2025: Insights from PLI’s 56th Annual Institute on Securities Regulation

On November 14, 2024, the Practising Law Institute’s 56th Annual Institute on Securities Regulation featured a panel discussion that provided valuable insights into the initial public offering (IPO) landscape for 2025....more

Cornerstone Research

Securities Class Action Filings: 2024 Midyear Assessment - Key Trends in Federal Filings

Cornerstone Research on

This is an excerpt from Securities Class Action Filings 2024 Midyear Assessment - COVID-19-related filings are on pace to increase by 27% in 2024. The number of cryptocurrency-related filings in 2024 H1 (three) was in line...more

White & Case LLP

Resilience and reform: Hong Kong adapts to change

White & Case LLP on

Global IPO markets endured a difficult 2023 in the face of rising interest rates and geopolitical uncertainty. But after a challenging 12 months, the outlook for IPO activity in 2024 is brightening This past year has been one...more

DarrowEverett LLP

SEC’s New Rules Give SPACs, Target Companies Much to Consider

DarrowEverett LLP on

On January 24, 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted new final rules relating to special purpose acquisition companies (“SPACs”). The new rules affect both initial public offerings (“IPOs”) for...more

Wyrick Robbins Yates & Ponton LLP

SEC Adopts Final Rules Relating to SPACs, Shell Companies, and De-SPAC Transactions

On January 24, 2024, the U.S. Securities and Exchange Commission (the “SEC”) adopted new rules and guidance affecting initial public offerings (“IPOs”) of special purpose acquisition companies (“SPACs”) and business...more

Robinson & Cole LLP

SEC Adopts Final Rules Related to SPAC IPOs and DeSPAC Transactions

Robinson & Cole LLP on

On January 24, 2024, the U.S. Securities and Exchange Commission (SEC) adopted final rules (the “Final Rules”) related to special purpose acquisition companies (SPACs) and de-SPAC transactions.[1] The Final Rules are intended...more

Mayer Brown Free Writings + Perspectives

Treat Like as Like? SEC Adopts Final Rules for SPAC IPOs and de-SPAC Transactions

As we previously posted, the Securities and Exchange Commission held an open meeting this morning to consider and vote on whether to adopt final rules regarding SPAC IPOs and business combinations (de-SPAC transactions). ...more

Freeman Law

Raising Capital & Securities Law Basics

Freeman Law on

Capital raising involves significant legal risks and complex securities law issues. All sorts of ownership interests sold in exchange for investments and payment rights constitute “securities” and their sale is subject to...more

Bilzin Sumberg

SEC Proposes Rules Governing SPACs and De-SPAC Transactions

Bilzin Sumberg on

The Special Purpose Acquisition Company (“SPAC”) market is facing both a new set of rules and amendments to rules already in place under the Securities Act of 1933 and Securities Exchange Act of 1934.  Last month, the U.S....more

Katten Muchin Rosenman LLP

Capital Markets Compass | Issue 3

SEC’s Climate-Related Comment Letters – Avoiding Potential Pitfalls - In September 2021, the Securities and Exchange Commission (SEC) provided a sample comment letter that included nine potential climate-related comments...more

Kohrman Jackson & Krantz LLP

The SEC Moves to Close the (IPO) Back Door

On March 30, 2022, the Securities and Exchange Commission issued proposed rules focused on special purpose acquisition companies (SPACs) and subsequent business combination transactions between SPACs and private operating...more

Proskauer Rose LLP

SEC Proposes Extensive New Rules Applicable to SPACs and de-SPAC Transactions

Proskauer Rose LLP on

On March 30, 2022, the Securities and Exchange Commission (the “SEC”) proposed a set of rules and amendments governing special purpose acquisition companies (“SPACs”) that will, if adopted, impose significant new regulatory...more

Nelson Mullins Riley & Scarborough LLP

Disclosure Tune-Up Proposed for Projections

In its recently proposed rules that relate primarily to SPACs and shell companies, the SEC did propose certain changes relating to projections that would apply to all reporting companies. In particular, the proposed...more

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