Observations from the front lines

February 2014
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Observations from the front lines

At a glance

The broadening of private company securities sales has helped drive the development of two new offerings from the NYSE and NASDAQ OMX. Both solutions, although different in approach and focus, are designed to provide a platform and market structure for private companies to manage and conduct the sale of private company securities.

Observations from the front lines provides PwC's insight on current economic issues, our perspective regarding the business impacts, and actions we have seen companies taking to effectively address those issues.

Private Company Platforms – NYSE ACE Portal & NASDAQ Private Market

Both the NYSE’s ACE Portal and NASDAQ’s OMX’s Private Market platforms are designed to provide private companies with either a stepping-stone to going public, or in many cases where companies wish to remain private, companies can improve their level of capital markets readiness with respect to a broader set of potential investors to access capital.

Highlights in this issue:

  • A private company platform allows private companies to raise capital from pre-screened investors and through approved placement agents and investment banks, manage their stakeholders, and provides for liquidity management
  • The NYSE announced an investment in ACE Portal in September 2013, and has a private company securities investment platform with $850m in private company deals available for investment (as of December 2013)
  • NASDAQ OMX announced a joint venture partnership with SharesPost in March 2013, and expects to launch a private company platform in early 2014

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