The Securities and Exchange Commission recently announced the agenda for the upcoming meeting on September 27, 2021, of the SEC's Small Business Capital Formation Advisory Committee. The Committee will meet virtually, and the meeting will be a webcast on the SEC's website. The Committee will discuss pre-IPO investments and the role of cross-over investors in late-stage pre-IPO rounds. The detailed agenda cites Pitchbook data from a report, titled "Crossing Over Into Venture," which notes that last year, 74% of IPOs by count and 77% by value included crossover investment in pre-IPO rounds. The Committee will hear from the PitchBook team that authored the report and discuss how this trend is changing the dynamics of capital raising leading up to public offerings. In addition, the Committee will discuss alternatives to traditional IPOs, including direct listings and combinations with SPACs.
See the press release and agenda here.
Visit us at mayerbrown.com
Mayer Brown is a global legal services provider comprising legal practices that are separate entities (the "Mayer Brown Practices"). The Mayer Brown Practices are: Mayer Brown LLP and Mayer Brown Europe - Brussels LLP, both limited liability partnerships established in Illinois USA; Mayer Brown International LLP, a limited liability partnership incorporated in England and Wales (authorized and regulated by the Solicitors Regulation Authority and registered in England and Wales number OC 303359); Mayer Brown, a SELAS established in France; Mayer Brown JSM, a Hong Kong partnership and its associated entities in Asia; and Tauil & Chequer Advogados, a Brazilian law partnership with which Mayer Brown is associated. "Mayer Brown" and the Mayer Brown logo are the trademarks of the Mayer Brown Practices in their respective jurisdictions.
© Copyright 2020. The Mayer Brown Practices. All rights reserved.
This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.