Public Markets

The Right Public Company for the Right Business.

Not every public-company vehicle is appropriate for every business. Intertech evaluates the business first, then seeks to identify a suitable public-market structure from its network.

OTC Public-Company Opportunities

Potentially appropriate for businesses pursuing a public-market strategy while developing toward greater reporting, liquidity and exchange-readiness objectives.

Nasdaq Public-Company Opportunities

Potentially appropriate for businesses whose size, financial profile, governance and transaction structure can support the applicable exchange requirements.

Subject to diligence, transaction structure, regulatory requirements and applicable exchange standards. OTC and Nasdaq public-company opportunities are not interchangeable and may carry different requirements, costs, risks and obligations.

Public vs. Private

Being Public Creates Opportunities — and Responsibilities.

A public-company structure is not automatically superior. It is a different operating reality with a different cost base.

Private company compared with public company
DimensionPrivate CompanyPublic Company
Capital accessBank debt, private capital, retained earningsBroader capital-markets access, subject to market conditions
Acquisition currencyCash, debt and seller financingCash, debt, seller financing and potentially equity
LiquidityLimited; typically a sale eventPotential trading liquidity, never assured
Reporting requirementsOwner-determinedPeriodic SEC reporting where applicable
GovernanceFounder-controlledBoard and committee independence standards
DisclosurePrivatePublic financials, concentration and compensation
Investor visibilityNarrowBroader; also broader scrutiny
Compliance burdenComparatively lightOngoing and permanent
Strategic flexibilityHigh discretion, constrained capitalMore capital pathways, more process

Acquisition Currency

The Ticker Isn't the Strategy. What You Do With It Is.

In fragmented industries, a properly structured public company can potentially provide an additional currency for acquisitions alongside cash, debt and seller financing.

The real opportunity is what a properly structured public company can enable you to build after the transaction.

Actual financing, valuation and acquisition outcomes are not guaranteed. Outcomes depend on diligence, negotiation, regulatory requirements and market conditions.

  1. Public Company
  2. Acquisition Currency — cash · debt · seller financing
  3. Strategic Acquisitions
  4. Scale
  5. Greater Enterprise Value

Education

Going Public Is Not the Finish Line.

A public-company transaction creates ongoing responsibilities that are permanent, not introductory.

  • SEC reporting
  • Financial reporting and internal controls
  • Corporate governance and independent oversight
  • Public disclosure
  • Audit requirements where applicable
  • Exchange requirements where applicable
  • Ongoing compliance
  • Shareholder communications

The goal isn't simply to become public. The goal is to build a company capable of operating successfully as a public company.