Credit: Rewrite Tomorrow Tower
On October 17th, Nasdaq Private Market, LLC (NPM), a leading provider of liquidity solutions, announced the completion of its 200th secondary transaction since its founding in 2013. This important milestone marks a cumulative total deal volume of over $18.5 billion and demonstrates NPM’s commitment to industry leadership and enabling a new era of private market standards and liquidity solutions.
Nasdaq Private Market reimagines today’s private securities by providing innovative transaction technology and access to an institutional investor network for some of the largest and most sophisticated private companies and funds. From setup and onboarding through cash settlement, NPM supports leading private companies like WeWork, LegalZoom and Credit Karma to proactively manage their liquidity needs while remaining private in a growing marketplace. Since its launch in 2013, NPM has worked with approximately 23,500 shareholders and 160 companies to date, including 63 “unicorns” – private companies with market capitalizations over $1 billion.
Over the past year, Nasdaq Private Market has seen a substantial increase in the number of private-market liquidity programs, from 51 total programs in 2017 to 50 programs through just the first nine months of 2018. There continues to be a growing demand for liquidity in privately held assets, and NPM looks beyond the tender offer to provide clients with a dynamic portfolio of solutions to access that liquidity. With NPM building new market structures, Nasdaq continues to make significant progress in the private asset space in addressing companies’ liquidity needs.
“NPM’s solution for private liquidity programs has been a game changer and fundamentally altered the secondary market in a positive and permanent way, for investors, issuers and selling shareholders alike,” said Jamie Hutchinson, Partner, Goodwin Procter LLP. “Programs ranging from a few dozen to a few thousand participants can be executed in a paperless environment with efficiency and limited disruption to the private company issuer. Goodwin is proud to have partnered with NPM from the beginning and we congratulate them on their 200th secondary transaction – a huge accomplishment and a real testament to the significant role they play in this market.”
The information contained herein is provided for informational and educational purposes only. None of the information provided is an offer or solicitation to buy or sell any securities, or to provide any legal, tax, investment or financial advice. Investing in private company stocks is speculative and involves a high degree of risk. You must be prepared to withstand a total loss of your investment. You are strongly encouraged to complete your own independent due diligence before investing in private company stock, including obtaining additional information, opinions, financial projections, and legal or other investment advice. The Nasdaq Private Market, LLC is not: (a) a registered exchange under the Securities Exchange Act of 1934; (b) a registered investment adviser under the Investment Advisers Act of 1940; or (c) a financial or tax planner, and does not offer legal advice to any user of the Nasdaq Private Market website or its services. Technology services may be offered by The Nasdaq Private Market, LLC’s subsidiary, SecondMarket Solutions, Inc. Securities-related services are offered through NPM Securities, LLC, a registered broker-dealer and alternative trading system, and SMTX, LLC, a registered broker-dealer, each of which is a member FINRA/SIPC and wholly-owned subsidiary of the Nasdaq Private Market, LLC. Transactions in securities conducted through NPM Securities, LLC or SMTX, LLC are not listed or traded on The Nasdaq Stock Market LLC, nor are the securities subject to the same listing or qualification standards applicable to securities listed or traded on The Nasdaq Stock Market LLC. Data collected from the SecondMarket platform may include transactions conducted through current and former affiliates of SecondMarket.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
