Direct Listing

48 posts

Direct Listing

Direct Listing

@directlisting

An account dedicated to promoting the superiority of direct listings.

Katılım Ekim 2019
57 Takip Edilen147 Takipçiler
Direct Listing retweetledi
Yuliya Chernova
Yuliya Chernova@ychernova·
A direct listing with the chance to raise fresh capital is a new structure NYSE is developing. It may serve as an alternative to direct listings, IPOs, and SPACs, but someone must first choose to be the pioneer, Greg Rodgers of Latham & Watkins says. venturecapital.cmail20.com/t/ViewEmail/d/…
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Bill Gurley
Bill Gurley@bgurley·
This document also BRAGS about a 97% conversion rate of 1-1 meetings. Let me ask you this, at what price would you have to list your house for 97% of visitors to want to buy it? Answer: an absurdly low one.
Bill Gurley@bgurley

The bank that "ran" the $NCNO $400mm+ one-day wealth give-away, just sent me a case-study as if this were "best practice" execution. You will see they brag about being 50x oversubscribed. Ignoring 98% of demand & filling only 2% is a specific recipe for underpricing. #insanity

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Bill Gurley
Bill Gurley@bgurley·
The bank that "ran" the $NCNO $400mm+ one-day wealth give-away, just sent me a case-study as if this were "best practice" execution. You will see they brag about being 50x oversubscribed. Ignoring 98% of demand & filling only 2% is a specific recipe for underpricing. #insanity
Bill Gurley tweet media
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Bill Gurley
Bill Gurley@bgurley·
Very smart choice for direct listing. Current old-school IPO market is getting systematically worse. As Jay Ritter has noted, 2020 is setting record level underpricing, with a cost of capital near 80%, while real interest rates are near 0%. The process has gone from bad to worse.
Joshua Franklin@FTJFranklin

Scoop with @ASenjourno & @annairrera @coinbase starts preparations for a stock market listing in what would be the first major U.S. crypto exchange to go public. Coinbase is exploring going public via direct listing instead of an #IPO reut.rs/2W3NcMV

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Direct Listing retweetledi
Bill Gurley
Bill Gurley@bgurley·
This is spectacular. Congrats to the @NYSE for pushing for a more efficient pricing model. Thanks to @jrtuttle & @stacey_cunning for all they are doing here! #directlisting
Scott Kupor@skupor

This, coupled with the SEC's earlier request for comment on the integration rules (suggesting that 30 days' separation would defeat integration), means we are likely to see more capital raising with/in very close proximity to Direct Listings reut.rs/3hRhjjV

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Bill Gurley
Bill Gurley@bgurley·
🙏 @kpooya! Even in Covid, traditional IPO is broken. If math is right, for $ZI, a free 1-day wealth transfer of $676mm to allocated funds from the hands of founders, employees, & investors. Hand allocated underpricing needs to stop. Use time/price for allocation. #directlisting
Pooya Kazerouni@kpooya

@ines_ferre I think @bgurley may have some thoughts on this

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Bloomberg Markets
Bloomberg Markets@markets·
Asana, a corporate software maker started by a Facebook co-founder, said it confidentially filed to register its shares for a public listing that would avoid a traditional initial public offering trib.al/tYCVpCl
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Biz Carson
Biz Carson@bizcarson·
Asana has confidentially filed to go public (and will beat Airbnb to a direct listing) in my favorite trend of companies just announcing this stuff now: bloomberg.com/news/articles/…
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NYSE 🏛
NYSE 🏛@NYSE·
We're taking the next step today in the evolution of the Direct Listing: This morning we filed a rule change with the SEC to allow companies to raise capital as part of a Direct Listing
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Techmeme
Techmeme@Techmeme·
The New York Stock Exchange files paperwork with the SEC that proposes letting companies raise fresh capital as part of their direct listing on the exchange (@kateclarktweets / TechCrunch) techcrunch.com/2019/11/26/nys… #a191126p21" target="_blank" rel="nofollow noopener">techmeme.com/191126/p21#a19…
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John Cant
John Cant@john_cant·
Exchanges pitch alternative to IPOs for fundraising ~ ft.com/content/b88857… - Nasdaq and NYSE propose allowing companies to sell new shares in a direct listing #mpi
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Keşfet

@bgurley @NYSE @jrtuttle @stacey_cunning @kpooya @screengoblin @kateclarktweets @elonmusk