Busiest Week for New Public Offerings in Over 17 Years From donuts to ride shares, last week’s IPOs resulted in the busiest week for new public offerings since 2004. Within a week’s time, 14 different companies raised over $100 million each. Investment banks like Goldman Sachs and Morgan … Read More
On June 25, 2021, the IRS released Private Letter Ruling (PLR 202125004), addressing whether a company that would "evaluate, measure, design, fabricate, manufacture, adjust, fit, and service" prescriptions for a third-party healthcare provider is not considered to be engaged in a business involving the performance of services … Read More
Elon Musk, the celebrity-status CEO behind Tesla and SpaceX, is already fielding questions about an IPO for Starlink, a division of SpaceX focused on providing satellite-based internet services. The centibillionaire has replied that the company will need to establish a “more predictable cash flow” before going public … Read More
As we reach the halfway mark through 2021, U.S. IPOs are already hitting an annual record. This year’s initial public offerings already total $171 billion, overshadowing 2020’s record high of $168 billion. The year of 2021 has consistently been moving ahead with longer strides than 2020: the average … Read More
Going public via a Special Purpose Acquisition Company (SPAC) acquisition is quickly becoming one of, if not the main way to IPO. The number of SPAC IPOs rose at a value of 320% from 2019 to 2020. Also, as of April 30, 2021, there were nearly double … Read More
Robinhood Markets’ highly-anticipated IPO has resulted in substantial growth for the financial services company. In March 2020, Robinhood had 7.2 million retail clients, and a year later that number has risen to 18 million. The brokerage now manages an impressive $80 billion in customer assets, many of … Read More
After its impressive launch, the Chinese ride-hailing company Didi Global fell more than 10% on the New York Stock Exchange just two days later. This comes on the heels of China’s cyberspace agency announcing an investigation to assess possible security risks. The company made a statement that … Read More
The Court Ruling That Brought Notice to NYC Corporations A recent New York City ruling regarding capital gains tax is catching the attention of corporations doing business in the city. Back in 2010, a fund owned by investment bank Goldman Sachs sold a hedge fund manager—a financial company … Read More
On September 02, 2016, the IRS released Private Letter Ruling (PLR 201636003), addressing whether, after several name changes to the company and a conversion from a LLC to a C-corporation, does the reorganization under § 1202(h) and § 368 have any effect on the stock—having no formal … Read More
On April 28, 2017, the IRS released Private Letter Ruling (PLR 201717010), addressing whether a Founder of a C-corporation operating in the services for health providers is qualified for the partial exclusion of gain under the Section 1202(a). Additionally, whether the corporation meets QSBS criteria for being … Read More