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NEW YORK, Oct. 17, 2018 (GLOBE NEWSWIRE) — The Nasdaq Private Market, LLC (NPM), a leading provider of liquidity solutions for today’s private securities, has announced the completion of its 200th secondary transaction since its founding in 2013. This milestone also marks $18.5 billion in company-sponsored liquidity programs and demonstrates NPM’s commitment to industry leadership and enabling a new era of private market standards and liquidity solutions.
“Since 2013, the private secondary market has grown significantly, and the Nasdaq Private Market has grown right along with it, working to offer more innovative transaction technology and a more sophisticated ecosystem of institutional buyers for today’s leading emerging growth companies,” said Eric Folkemer, Head of Nasdaq Private Market. “Completing over 200 transactions shows our ability to adapt to meet the marketplace’s need for a dynamic portfolio of solutions.”
“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.”
NPM’s private company solutions support companies throughout all stages of their lifecycles and provide the ability to streamline private transactions – from setup and onboarding through cash settlement – regardless of size or valuation. 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, NPM 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.
Folkemer added, “Today, we look beyond the tender offer, providing our clients with the flexible market mechanisms, including auctions and institutional block transactions, leveraging a growing secondary institutional investor network to drive their capital into companies’ liquidity needs.”
About Nasdaq Private Market
The Nasdaq Private Market, LLC is a premier liquidity provider to private companies. Whether a company seeks to optimize an eventual IPO or remain private permanently, Nasdaq Private Market provides comprehensive technology and capital market support to meet its needs. For certain eligible investors, Nasdaq Private Market is a place to discover and engage with some of the most exciting private companies. 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. To learn more, visit www.npm.com.
Nasdaq is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 100 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to approximately 4,000 total listings with a market value of approximately $14 trillion. To learn more, visit: http://business.nasdaq.com