In this episode, we break down the practical realities of listing on Nasdaq and the New York Stock Exchange. From public float and shareholder distribution to governance requirements and recent Nasdaq rule changes, we examine the critical checkpoints companies must clear before entering the public markets.

Episode 7 Checklist:

☐ Separate SEC approval from exchange approval in your IPO planning process. Clearing SEC review does not guarantee listing eligibility on Nasdaq or the New York Stock Exchange, both of which maintain independent standards on liquidity, governance, and shareholder distribution.

☐ Verify your unrestricted public float early. Large private valuations do not matter if insider ownership leaves too few freely tradable shares to satisfy exchange liquidity thresholds.

☐ Review your shareholder distribution structure before launch. Concentrated ownership can create listing problems even for well-funded companies if round lot holder and public float requirements are not met.

☐ Build governance infrastructure well before the roadshow begins. Independent directors, audit committee composition, and PCAOB-ready auditors are often the longest lead-time items in the IPO process.

☐ Track evolving Nasdaq listing rule changes closely. Recent amendments increasingly tighten float, liquidity, and SPAC-related requirements, especially for smaller issuers and uplisting companies.

☐ Treat exchange readiness as a market credibility issue, not just a compliance exercise. Listing standards increasingly function as a quality filter for liquidity, price discovery, and institutional investor confidence.

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