Palantir, Asana Debuts Build Momentum For Direct Listings
By Tom Zanki (September 30, 2020, 9:10 PM EDT) -- Shares of data miner Palantir and corporate software firm Asana traded strongly Wednesday as both companies went public via direct listing rather than a traditional initial public offering, bolstering the viability of this alternate route to public markets for select companies.
Both Palantir Technologies Inc. and Asana Inc. directly listed their shares on the New York Stock Exchange without selling new shares as with a conventional IPO. Before Wednesday, Spotify and Slack were the only two large private companies to go public through this path.
"Today confirmed that it is a viable path," Jeffrey Karpf of Cleary Gottlieb Steen & Hamilton...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!