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00:45 | Will pre-IPOs chose the SPAC structure (Better)?
- SPACs are still around in 2023; 16 SPACs having IPO'd and 64 having de-SPACed in H1 2023
- There are pros/cons of the SPAC structure vs traditional IPOs. SPACs have been speculative recently due retail optimism and platforms like Reddit
- Reputable companies prefer the traditional IPO route with support of big investment banks and proper roadshows
09:08 | Pre-IPOs give employees liquidity (eToro)
- High growth private companies are staying private for longer and are now offering secondary liquidity events for employees
- Secondary market liquidity events are beneficial for retaining talent, especially when a significant portion of their net worth is tied up in company stock
- Are company-led secondary market liquidity events good for the secondary market? They provide better price discovery and broadens the shareholder base but can reduce overall transaction activity.
16:52 | Pre-IPO valuations need to reset before going public (Stripe, Klarna)?
- Do companies need to bite the bullet and do a primary down round so they can prepare to go public
- Companies like Stripe and Klarna had primary rounds that reset their prices, and now their secondary market valuations align with their last primary round
- Liquidity and capital are important, especially for high-growth companies … taking a down round might be necessary for survival
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By AG Dillon & Co
4.4
88 ratings
Send us a text
00:45 | Will pre-IPOs chose the SPAC structure (Better)?
- SPACs are still around in 2023; 16 SPACs having IPO'd and 64 having de-SPACed in H1 2023
- There are pros/cons of the SPAC structure vs traditional IPOs. SPACs have been speculative recently due retail optimism and platforms like Reddit
- Reputable companies prefer the traditional IPO route with support of big investment banks and proper roadshows
09:08 | Pre-IPOs give employees liquidity (eToro)
- High growth private companies are staying private for longer and are now offering secondary liquidity events for employees
- Secondary market liquidity events are beneficial for retaining talent, especially when a significant portion of their net worth is tied up in company stock
- Are company-led secondary market liquidity events good for the secondary market? They provide better price discovery and broadens the shareholder base but can reduce overall transaction activity.
16:52 | Pre-IPO valuations need to reset before going public (Stripe, Klarna)?
- Do companies need to bite the bullet and do a primary down round so they can prepare to go public
- Companies like Stripe and Klarna had primary rounds that reset their prices, and now their secondary market valuations align with their last primary round
- Liquidity and capital are important, especially for high-growth companies … taking a down round might be necessary for survival
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