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Frequently Asked Questions
  What does Nasdaq require from a company planning an IPO on The Nasdaq Capital Market to demonstrate that it complies with the minimum shareholder requirement?
Identification Number 1732
In the case of a company seeking to list on The Nasdaq Capital Market in conjunction with an IPO, Nasdaq requires a written representation from the lead underwriter that the underwriter will undertake to distribute the company’s securities in a manner to satisfy the minimum shareholder requirement upon completion of the proposed offering.
 
Specifically, the representation should state that the underwriter will undertake to place the securities sold in the offering with a sufficient number of holders so that the company will have at least 300 round lot shareholders (i.e., shareholders holding a minimum of 100 unrestricted securities) with at least 150 of those shareholders holding a minimum of $2,500 worth of unrestricted securities.
 
Publication Date*: 5/15/2023 Mailto Link Identification Number: 1732
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