Deals
Shutdown Fears Are Back and Nascent IPO Rebound Could Get Hit
- Issuers reluctant if deal path unclear: Davis Polk’s Truesdell
- Companies may speed up their timelines to get SEC approval
Companies looking to sell shares publicly for the first time face an extra obstacle now: the rising potential for US government shutdowns.
The ouster of Congressman Kevin McCarthy as Speaker of the House has only increased the chances of the government shutting down as early as Nov. 17. Any such closure would leave the US Securities and Exchange Commission with just a skeletal staff, making it unable to vet share sale filings or declare pricings on new listings effective.