Market Insight Update: Marketable Secondary Names
Given the market reset which followed the valuation boom in 2021, select secondary issuers are more marketable to investors than others. Companies that have raised a recent round, or adjusted their 409A, in the past two years are more likely to have interested buyers as they have a fresh benchmark in terms of valuation. As no investor wants to purchase shares in a company that potentially could have a down round in the future, no news is bad news in this market.
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Market Insight Update: Secondary Dealmaking – How Broker-Dealers Navigate Transaction Complexity
There are two principal objectives of a secondary broker dealer. Locating a counterparty to match the corresponding buy side or sell side order and executing the secondary deal. Both of these steps take several weeks in a direct secondary transfer, which results in a complex flow of procedures as outlined below.
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