ARTICLE | Finance

Small Fry Unsuited

NASDAQ to allow FINRA suitability rule to exclude retail marketing of follow-ons

October 11, 2010 7:00 AM UTC

NASDAQ looks to have backtracked a bit on its insistence that financing deals must include retail investors to qualify as "public offerings."

Recent questions about what NASDAQ would qualify as a public offering had raised worries that the cost of capital would go up for some types of deals that small and mid-cap biotech have been using to access the capital markets (see Ebb & Flow, Oct. 4). ...