Introduction
Companies that “go public” through nontraditional means—i.e., without an initial public offering (IPO) listed on a national securities exchange—face significant challenges to initiating the public trading of their common stock. Such challenges include enabling broker-dealers to publish public quotations on their common stock and qualifying for electronic clearance and settlement of trades through the facilities of The Depository Trust Company (DTC).
This white paper is intended to provide practical guidance to these companies and to help them set investor expectations on when public trading can commence. Surprisingly, it can take months to accomplish what seems to be a simple task.
*This white paper was co-authored by Dan Carter and Jason Carter of Colonial Stock Transfer Company, Inc.
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