Cooley Market Talks – IPO Readiness: Preparing for the Market Return
Previously Recorded – Virtual Event Against the backdrop of an ever-changing capital markets landscape, Cooley’s Market Talks virtual series cuts through the noise and drills down on what you need to know about the current market. Please join us for the second installment of Market Talks, where our panel of […]
T+2 goes to T+1—Is “T+evening” next?
Yesterday, the SEC adopted a number of new rule amendments intended to reduce risks in the clearance and settlement processes. Most significantly for this audience, the changes will reduce the standard settlement cycle for most broker-dealer transactions in securities from T+2 to T+1, that is, from two business days after […]
Interim Guidance on Stock Buyback Excise Tax Confirms Broad Application to M&A and Capital Market Transactions
The Inflation Reduction Act imposes a 1% excise tax on certain repurchases of stock of publicly traded US corporations (“Covered Corporations”) effected after December 31, 2022 (the “Excise Tax”). On December 27, 2022, the Department of the Treasury (“Treasury”) and the IRS issued Notice 2023-2 (the “Notice”), providing interim guidance […]
The Forecast for Capital Markets
Cooley partner and co-founder of the firm’s Chicago office Christina Roupas was a featured speaker in the final installment of Axios’ Dealmarkers series. In a “View From the Top” segment, Roupas spoke with Fabricio Drumond, chief business officer at Axios, about what’s expected for the capital markets in 2023 and […]
2023 Financial Staleness and Filing Guide
As we approach the end of 2022, many companies are looking toward 2023 for initial public offerings and other public financing transactions. Among the most commonly asked questions during capital markets transactions – and one that is crucial in determining deal timelines – is this: “Which financial statements are required in order to price the offering?” To help answer […]
SEC’s Small Business Advisory Committee hears glimmers of positive news about the IPO market
Recently, at a meeting of the SEC’s Small Business Advisory Committee, a panel provided an update on the state of play of the IPO market. While IPO activity—traditional IPOs, SPACs and direct listings—was off-the-charts in the second half of 2020 and throughout 2021, geopolitical upheavals, market volatility, inflationary pressure, economic […]
Navigating the Downturn: Biotech Financing Trends
This year, markets have exhibited volatility and general weakness across the board. We put together a discussion of trends in the biotech financing ecosystem and popular alternative vehicles for raising capital, including private investments in public equity (PIPEs) and registered direct offerings (RDOs).
Did the Inflation Reduction Act Create a SPAC Tax?
On August 16, 2022, House Resolution 5376, the Inflation Reduction Act (IRA), was signed into law. An August 11 Cooley client alert explains some of the tax provisions contained in the IRA, including the 1% excise tax on certain stock buybacks, which may impact special purpose acquisition companies (SPACs) at […]
Webinar: Biotech Financing Environment and Deal Considerations
Against the backdrop of a prolonged global pandemic, international conflict and a shifting economic climate, the capital markets landscape is ever-changing. Cooley brings you a quarterly webinar series that cuts through the noise and drills down on what you need to know about the current market. Our inaugural webinar focuses […]
Board Diversity for Foreign Private Issuers: Does Board Diversity Mean the Same Thing Worldwide?
Now that Nasdaq’s board diversity matrix disclosure deadline has arrived, foreign private issuers (FPIs) and companies considering US initial public offerings are increasingly considering their current board makeups and director candidates in light of US and home country requirements, as well as expectations of investors and shareholder advocacy groups. The […]