As the IPO market remains constrained, private companies are increasingly turning to secondary-share sales to address growing liquidity needs among employees and early investors. Speaking to Law360, Fenwick partner Ran Ben-Tzur highlighted the widespread nature of this trend, noting, “We’re seeing this across all stages of the life cycle with respect to private companies as capital is starting to flow back into the market. Especially at later stages, there is pent-up demand to get some liquidity for employees that have been waiting for it for a long time.”
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