Initial Public Offerings (IPOs) & Direct Listings

We guide entrepreneurs through early-stage issues and position them to achieve their goals for IPOs and other public offerings.

Issue spotting for early-stage companies. While relatively rare, issues can arise for an early-stage company which could later complicate preparations for an IPO. Our lawyers watch for these and handle them before they become problems, to allow founders and early-stage innovators to focus on building their business and getting pre-IPO financing in place.

IPOs for pre-clinical Life Sciences companies. When an early-stage Life Sciences company moves quickly to an IPO  we handle all of the standard legal needs associated with an IPO as well as address the unique needs of a pre-clinical entity (most notably, issues with regulatory compliance) coming to an IPO. 

An IPO is a one-time marketing opportunity to enhance your brand, including with customers, employees, partners, investors and potential acquisition targets. Your S-1 sets the stage for who you will be as a public company and needs to reflect your core mission, goals and values.

Telling your story. We work with you to craft the story in your S-1 prospectus while managing the concerns of SEC staff, investment bankers and internal stakeholders eager to get the deal closed. We work with you not only to ensure a successful IPO or direct listing but also to position you to hit the ground running as you adapt to the many complexities and opportunities of being a newly public company.

Clearing obstacles. We lead the entire IPO working group – investment bankers, auditors, underwriters counsel and SEC staff – to troubleshoot issues that might otherwise delay an offering and help it stay on schedule. We have worked extensively with the SEC groups that are most likely to review your filings and can help make the SEC review process more efficient.

To maximize exit opportunities, some clients pursue a dual-track exit strategy – preparing simultaneously for both an M&A and IPO exit.

With Gunderson Dettmer, the client team that knows you best stays by your side – ensuring alignment and leveraging institutional knowledge – and is augmented by our IPO and M&A teams to help you prepare for the IPO and M&A processes, manage key stakeholders, and transition to a public company (if you opt for an IPO) or integrate with an acquiror (when you opt for an M&A exit).

In addition to our deep bench of  Corporate lawyers, we have dedicated teams of attorneys that handle issues at play in public offerings, including:

• IP, Licensing and Strategic Transactions – We have advised thousands of technology and life sciences companies in the licensing, acquisition and development of intellectual property – and have negotiated opposite all of the major technology and life sciences players.
• Employee Benefits and Compensation – We pioneered many of the compensation practices that are now standard for venture-backed companies, which enables us to calibrate the needs and objectives of companies transitioning to the public markets.
• Tax Planning/Compliance – Tax considerations and business purposes often conflict. We are adept at figuring out how to achieve the right balance to serve your needs, including in cross-border activities.