Discretionary Authority and Holistic Exchange Vetting
Nasdaq’s expanded discretionary authority allows the exchange to deny listings based on qualitative risk factors, making advisor credibility, regulatory transparency, and corporate governance more important than ever for IPO and uplisting candidates.
The Tightening of Initial Liquidity and Public Float Benchmarks
New Nasdaq rules now require IPO and uplisting companies to satisfy public float requirements using only newly raised offering proceeds, eliminating the use of resale shares to meet liquidity benchmarks.