Analysis

More Companies Likely To 'Test The Waters' Ahead Of IPOs

Law360 (February 21, 2020, 6:26 PM EST) -- More companies are taking advantage of the ability to communicate with select investors in order to gauge market interest before an initial public offering, a trend that lawyers expect to accelerate now that so-called "testing the waters" benefits are available to all companies.

New data from law firm Paul Hastings LLP showed that more than half of eligible companies used testing the waters benefits in preparation of IPOs in 2019. Lawyers say companies have become more comfortable with this option since it was made available under the Jumpstart Our Business Startups Act of 2012, which was intended to spur more public offerings....

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