Reverse Public Offerings

A Reverse Public Offerings ("RPO") is when a private company merges with a public company that no longer has a business but maintains a listing (a "shell"); in conjunction with a "PIPE" (Private Investment in Public Equity). National assists in valuation, negotiations, and due diligence of the shell company.

The benefits of an RPO are that it creates a pathway to liquidity for prior investors and provides the capital necessary to fund the next stage of development. This transaction removes preferred treatment for prior and future private VC investors. The RPO process may provide a shorter pathway to capital. In comparison to an IPO, the RPO offers greater flexibility in the amount of capital raised.