Feature

Gregg Jaclin’s Expert Guide to Taking Your Company Public

January 8, 2025
11:17 pm

Taking your private company public can seem like an opaque, formidable process. But it doesn’t have to be with the right guidance. Gregg Jaclin, an experienced consultant with over 25 years of experience in capital markets, breaks down the steps to going public and shares insider tips.

Choosing the Right Partners

The first key step is assembling the right team of partners. As Gregg explains, “You need the right attorneys, auditors and bankers to assist with the process of taking your company public.”

He emphasizes doing thorough research to find the right partners with proven IPO experience. Don’t just go with firms you find online or in an advertisement. Vet them thoroughly and ensure they can handle the intricacies of going public.

Gregg also advises bringing on a knowledgeable board of directors or advisory team. Their outside expertise can significantly improve your chances of a successful IPO.

Setting Accurate Valuations

Valuing your company accurately and objectively is crucial for setting expectations with potential investors. Gregg warns that most private company CEOs think their valuation should be much higher than what the public markets dictate.

While you may see amazing potential in your company, you have to convince more skeptical investors who have countless options to consider. Conduct an objective valuation process with independent experts to arrive at an honest market valuation.

Gregg also examines the human capital and leadership behind companies, not just hard assets. The strength of your team plays a big role in valuation.

Navigating Strong Personalities

Another key part of Gregg’s job is managing the many assertive personalities involved in taking companies public. Bankers, auditors, attorneys and CEOs all want things done their way.

Gregg highlights flexibility, patience and understanding as crucial skills when working with these personalities. Be willing to bend without pushing back too hard. Appeal to what motivates different players to keep driving the complex process forward.

Gregg explains that most advisory firms believe their job is finished once the IPO is completed. However, he sees major opportunities in offering further consulting and advisory services for companies post-IPO.

Many newly public companies still struggle with understanding the capital markets. Gregg wants to help advise these companies on potential M&A opportunities, how to handle investor relations, stock performance, quarterly reports and other public company functions.

Considering Alternative Paths

IPOs are not the only way to go public. Gregg explains that “Special Purpose Acquisition Companies (SPACs) are an increasingly popular vehicle for going public.”

In a SPAC merger, a company gets acquired by an already-public NASDAQ or NYSE shell company specifically created for this purpose. This can reduce the time and potentially the costs compared to a traditional IPO.

Direct uplisting to the NASDAQ is another option Gregg highlights for qualifying companies. Do your research to weigh all potential paths for your company.

International Opportunities

Gregg sees major potential in overseas markets like Asia for taking companies public. He explains that many foreign companies want to access US capital markets and may prefer working with someone who understands cultural nuances.

While language and distance barriers exist, the transparency and liquidity of US markets make it appealing for many international companies. Gregg encourages those interested to think globally when considering going public.

Patience is Crucial

One mistake Gregg highlights is the lack of patience from executives. He explains, “everybody seems to be in a rush to get the listing done tomorrow.”

In reality, a proper IPO process takes significant time. There are many required filings, disclosures and approvals involved, not to mention investor roadshows. Rushing the process risks mistakes and the lack of proper valuations. Gregg urges clients to check their expectations and walk through all the necessary steps.

While complex, going public can take your company to new heights. But seasoned expertise and the right team are the keys to navigate the process smoothly.

Gregg has quarterbacked everything from Israeli tech firms to New York biotech companies going public over his 25+ year career. Tapping into his experience and connections vastly improves your chances of IPO success.

Check out his LinkedIn profile to learn more about Gregg Jaclin.