Market commentary and firm news.
This section is being built out as FMP's Insights program launches. It will carry market commentary, regulatory updates, and firm announcements — written to the same institutional standard as our client deliverables.
SPACs Are Back: Why More Than a Third of 2025's IPOs Weren't Actually IPOs
SPAC mergers accounted for more than a third of all U.S. companies that went public in 2025. This article compares SPAC mergers, reverse mergers, and traditional IPOs — covering timeline, cost, dilution, and how Nasdaq's new December 2025 rule change affects each path.
The Faster, Simpler Way to Raise Capital in the U.S. — Without Going Public
Most executives assume raising real capital means eventually going public. In 2025, private companies raised over six times more capital through Regulation D private placements than the entire U.S. IPO market combined. Here's how private placement actually works — the requirements, the possibilities, and how to decide.
Why Most International Companies Never Make It to Nasdaq — and What Separates the Ones That Do
U.S. capital markets remain open to international companies — but access isn't the same as readiness. A look at why most international companies that attempt a Nasdaq or OTC listing fall short, what separates the ones who succeed, and how 2026's regulatory changes are raising the bar for foreign issuers.
PCAOB Audits Explained for International Companies
What PCAOB audit requirements actually mean for a cross-border company going public in the U.S. — including the real decision most guides skip (register your existing auditor, or engage one already registered) and the current, resolved status of the China and Hong Kong inspection-access question under the HFCAA.
How Much Does It Cost to Go Public in the United States?
A breakdown of what going public in the U.S. actually costs: SEC and exchange fees, underwriting and professional-services costs, and ongoing public-company expenses, compared across a traditional Nasdaq IPO, an OTC Markets listing, and a reverse merger.
Understanding SEC Registration: S-1, F-1, 20-F and 6-K Explained
A clear guide to the SEC forms that govern a U.S. listing — what determines whether your company files an S-1 or an F-1, what 20-F and 6-K require afterward, and why the underlying eligibility test matters more than most guides explain.
IPO Readiness Checklist: 20 Critical Steps Before Going Public
A practical, cross-border-focused readiness checklist for founders and CFOs preparing for a U.S. public listing — covering strategic, financial, and governance readiness across both Nasdaq and OTC Markets pathways.
OTC vs. Nasdaq: Which U.S. Listing Path Is Right for Your Company?
Choosing between OTC Markets and Nasdaq is a strategic decision that affects capital access, regulatory obligations, investor confidence, and long-term growth. Learn how each pathway aligns with different stages of corporate development.