NYSE gets approval for direct listing with cash raise
December 23, 2020
Companies pursuing a direct listing on the NYSE will now be able to raise money in the process. The Securities and Exchange Commission gave the exchange the green light to host a modified process that allows companies to sell shares directly to public investors rather than relying on banks and their institutional investor connections. Palantir and Asana, which went public through direct listings earlier this year, were not able to raise cash by issuing new shares.