Nasdaq Hopes SEC Greenlights Revised Direct Listings Plan

Law360 (February 23, 2021, 6:57 PM EST) -- Nasdaq has amended a proposal that would allow direct listings with capital raises, which could provide companies an alternative to traditional initial public offerings, to resemble a regulator-approved plan by rival New York Stock Exchange. 

Nasdaq's amended proposal filed late Monday with the U.S. Securities and Exchange Commission makes a key change from an initial plan submitted in September in that the exchange would require that companies price their shares within a specified range in order for trading to begin. More companies may consider direct listings if the proposal is granted, given that it also allows companies to raise fresh money...

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