News & Insights

Once considered an unorthodox path to going public, direct listings are gaining traction as an alternative to the traditional IPO. On Wednesday, the Securities and Exchange Commission (SEC) approved a rule change, with immediate effect, that will permit companies to raise capital in a direct listing on the Nasdaq Global Select Market.

On March 25, 2020, the SEC’s Division of Corporation Finance issued CF Disclosure Guidance: Topic 9 relating to the COVID-19 (the novel coronavirus) outbreak. The Division noted that it is monitoring how companies are reporting the effects and risks of the outbreak on their businesses, financial condition, and results of operations.

On March 12, 2020, in an effort to reduce unnecessary burdens and compliance costs for certain smaller issuers, the Securities and Exchange Commission adopted amendments to the definitions of “accelerated filer” and “large accelerated filers” in Exchange Act Rule 12b-2. As a result of the amendments, “smaller reporting companies” with no revenues or revenues of less than $100 million will no longer be required to obtain a separate attestation of their internal control over financial reporting from their independent auditor. The requirement for companies to establish and maintain effective internal control over financial reporting and for management to provide certifications regarding such controls will not be effected by these amendments.

Gunderson Dettmer advises The Column Group as an investor in Surrozen’s $175 million oversubscribed private placement

Flywire announces its acquisition of Sertifi, an innovative platform that digitizes hospitality-specific workflows and associated payments for some of the world’s largest hotel brands

Global payments enablement and software company, Flywire announces its underwritten follow-on public offering of 8,000,000 shares of common stock at a public offering price of $32.00 per share for gross proceeds of $256 million.

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP has elected 15 new partners, effective January 1, 2022, in its largest new partner class to date. In a year of unprecedented growth to more than 400 attorneys in 10 offices, these elevations add to the firm’s corporate and securities, fund formation, growth equity, public offerings/public companies, data privacy, technology transactions and tax practices.